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Coordination of Time-Varying Price Supply Chain with Inequity-Averse Retailers

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  • Shuanjun Song
  • Sheng Hu

Abstract

In order to coordinate time-varying price supply chain with inequity-averse retailers, this paper proposes a cooperative system decision model based on buy-back contract. The model concentratedly takes the market demand, manufacturers’ order response time, retailers’ inequity aversion, and time-varying price into consideration. Through sensitivity analysis of model parameters, the influence of inequity aversion characteristics of retailers on contract parameters is analyzed by a numerical example. The result reveals that the cooperative system based on buy-back contract can coordinate such supply chains. And it shows that when the retailer has disadvantageous inequity aversion, the buy-back contract is beneficial to the manufacturer; when the retailer has advantageous inequity aversion, the buy-back contract is beneficial to the retailer.

Suggested Citation

  • Shuanjun Song & Sheng Hu, 2019. "Coordination of Time-Varying Price Supply Chain with Inequity-Averse Retailers," Mathematical Problems in Engineering, Hindawi, vol. 2019, pages 1-8, June.
    • Handle: RePEc:hin:jnlmpe:6704131
    DOI: 10.1155/2019/6704131
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