Value of Information in Capacitated Supply Chains
نویسندگان
چکیده
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. INFORMS is collaborating with JSTOR to digitize, preserve and extend access to Management Science. WATe incorporate information flow between a supplier and a retailer in a two-echelon VV model that captures the capacitated setting of a typical supply chain. We consider three situations: (1) a traditional model where there is no information to the supplier prior to a demand to him except for past data; (2) the supplier knows the (s, S) policy used by the retailer as well as the end-item demand distribution; and (3) the supplier has full information about the state of the retailer. Order up-to policies continue to be optimal for models with information flow for the finite horizon, the infinite horizon discounted and the infinite horizon average cost cases. Study of these three models enables us to understand the relationships between capacity, inventory, and information at the supplier level, as well as how they are affected by the retailer's (S-s) values and end-item demand distribution. We estimate the savings at the supplier due to information flow and study when information is most beneficial.
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