Optimal Decisions on Prices, Order Quantities, and Returns Policies in a Supply Chain with Two-period Selling
Jing Chen (Rowe School of Business, Dalhousie University, Canada)
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Selling products in a regular period and a markdown period, in the presence of customer returns, is common practice in the retailing industry. It is critical for the retailer to manage returns by choosing appropriate returns policies for the two periods. This study examines the retailer’s customer returns policy strategy, and pricing and ordering decisions, in a supply chain selling seasonal products over two periods. The manufacturer is a Stackelberg pricing leader and sets wholesale prices at the beginning of each period. The retailer may carry over both returns and strategic inventory of new products from the regular period to the markdown period. We show that if the holding cost on new products is low it carries over strategic inventory; it also carries returns to the markdown period, if it offers a Money-Back Guarantee in the regular period.
Dr. Chen received her PhD at the Richard Ivey Business School, Western University in 2008. Now she is a Professor and William A. Black Chair in Commerce, the Rowe School of Business at Dalhousie University. She received “President’s Research Excellent Award-Research Impact 2020” at Dalhousie.Her research interests focus on competitive channel and supply chain management, interface between operations management and marketing, and revenue management. She has published more than 60 articles in Journal of Retailing, European Journal of Operational Research, Transportation Research Part E: Logistics and Transportation Review, Omega, and other journals, and more than 10 Ivey cases. She is serving as the Director of Board, Federation for the Humanities and Social Sciences. She is also serving as an Associate Editor for Omega and International Transaction in Operational Research, and has served as a guest editor for several special issues for journals.