Demand Flexibility in Supply Chain Planning
This work encapsulates the essential developments in this field into a single resource, as well as to set an agenda for further development in the field. This brief focuses on the demand flexibility in supply chains with fragmented results distribute
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Joseph Geunes
Demand Flexibility in Supply Chain Planning
Joseph Geunes Industrial and Systems Engineering University of Florida Gainesville, FL USA
ISSN 2190-8354 e-ISSN 2191-575X SpringerBriefs in Optimization ISBN 978-1-4419-9346-5 e-ISBN 978-1-4419-9347-2 DOI 10.1007/978-1-4419-9347-2 Springer New York Dordrecht Heidelberg London Library of Congress Control Number: 2012933121 Mathematics Subject Classification (2010): 60C05, 60A10, 90B15, 90B99 © Joseph Geunes 2012 All rights reserved. This work may not be translated or copied in whole or in part without the written permission of the publisher (Springer Science+Business Media, LLC, 233 Spring Street, New York, NY 10013, USA), except for brief excerpts in connection with reviews or scholarly analysis. Use in connection with any form of information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed is forbidden. The use in this publication of trade names, trademarks, service marks, and similar terms, even if they are not identified as such, is not to be taken as an expression of opinion as to whether or not they are subject to proprietary rights. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
For Paul & Vicki Geunes and Sherry, Eric, and Brett
Preface
The goal of this book is to codify ideas and results from a specific segment of the supply chain operations planning literature that has developed over the past few decades. This segment of the literature draws on the tools of operations research in order to characterize optimal solutions to problems that seek to efficiently match a producer’s supply output with the demands or requirements of a set of customers and/or markets. More specifically, we will emphasize contexts in which the producer has some control over both supply and demand, i.e., situations in which some degree of flexibility in demand exists from the producer’s point of view. The evolution of the operations literature in the past half century has by and large focused on managing (or minimizing) costs while attempting to meet some external party’s target output requirements. This external party often corresponds to a marketing group within the same firm, whose responsibilities include setting prices and estimating the resulting customer demand levels, in effect, determining optimal demand levels with respect to some objective. Understanding how price influences demand for a good, and thus, what constitutes an optimal set of demand levels, requires some knowledge of how customers will respond to one of the product’s critical characteristics (in this case, price). Defining the way in which customers will respond to price in the aggregate is analogous to characterizing the degree of flexibility that exists in demand as a function of price. Customer flexibility often exists along numerous product dimensions in addition to price (e.g., product sizes, delivery q
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