Inventory and Pricing Decision-making for Perishable Products in a Dual-channel Supply Chain
With the development of information technology and the improvement of people's living stan-dards,the demand for perishable products such as fresh food,fruits and vegetables keeps growing.As data shows,the yearly consumption of perishable foods has exceeded 1 billion tons in China.At the same time,the vigorous promotion of the"Internet+agriculture"business mode by the relevant departments brings new op-portunities to the agricultural products market,and online marketing has become an effective way to bring about higher agricultural products profit.Therefore,with the increasing popularity of the dual-channel sales of perishable products,the research on perishable products inventory and pricing is becoming increasingly more relevant.In this paper,in the context of a perishable products supply chain,we studied the dual-channel supply chain model composed of a single retailer and a single supplier,that is,the supplier may sell perishable products(dete-riorating products)directly through an online channel or indirectly through a retail channel,where in addition to decline in quantity,products will also decline in quality over time,and the decline in product quality will af-fect the demand rate of the retail channel.Next,we established the centralized and decentralized decision-making models respectively,and proposed the corresponding algorithm to determine the optimal price,order frequency,and order cycle,etc.The results obtained through the model analysis and numerical calculation were subject to sensitivity analysis over the key parameters,from which some meaningful conclusions were drawn.The results showed that a decentralized supply chain not only erodes the profits of the two supply chain members,but also leads to higher product waste.However,using revenue sharing and two-part pricing,we could coordinate the supply chain and reduce the total waste rate of the supply chain.At the same time,as the product deterioration rate increases,the two will be more inclined to coordinate the supply chain,and a coordi-nation contract will significantly improve the retailer's profit.By incorporating delivery time of the direct channel into the extended model,we showed that compared with the centralized model,the supplier in the de-centralized model would invest more funds to shorten the delivery lead time,and given high quantity decline rate and low quality deteriorating rate,the supplier would have longer delivery lead time.In recent years,fresh food companies such as Freshippo,Daily Youxian and Dingdong Shopping have expe-rienced continuous growth in user number and far higher year-on-year growth rate of online sales than retail channel sales.The study of this paper can help the relevant enterprises select appropriate sales modes and deter-mine the appropriate inventory and price level,so as to reduce the loss rate of perishable products and achieving higher corporate efficiency.
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