讲座题目：Dynamic Operations Management with Strategic Customers
讲座嘉宾：Prof.Stephen Shum，City University of Hongkong
【摘要】：How should a firm dynamically manage its availability/pricing decisions when facing strategic customers? The talk will cover two studies that attempt to answer this question.
The first study considers a firm’s dynamic inventory and markdown decisions for perishable products. Each period consists of two phases, clearance phase and regular-sales phase. Strategic customers may buy the product during clearance sales for future consumption. Hence, markdown may cannibalize future sales atregular price. We show that the firm should either put all of the leftover inventory on discount or dispose all of it, and the choice depends on the amount of leftover inventory from the previous period. This study is joint work with Peng Hu and ManYu.
The second study considers the dynamic pricing and rationing policy of a firmfacing strategic customers under the influence of shortage effect. We provide conditions under which it is optimal for the firm to ration. We also characterize the firm’s long-run optimal policy. This study is joint work with Peng Hu and Hanqing Liu.
Stephen Shum is an associate professor in the College of Business at the City University of Hong Kong. He received his PhD Degree in Operations Research from MIT, and his bachelor degrees in Electrical Engineering and Mathematics from UCLA. He research focuses in pricing and revenue management, supply chain management, and customer behavior in operations management. Prior to joining the City University of Hong Kong, he was on the faculty of HKUST Business School.