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《Chinese Journal of Management Science》 2015-02
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On Contracts with Risk Share for VMI Program Under Replenishment Strategy

FAN Chen;WANG Xiao-li;DING Chao;SU Qiang;School of Economics and Management,Tongji University;  
This paper deals with the problem of contracts designing for supply chain under VMI(Vendor Managed Inventory)program.Inventory replenishing policies are also taken into consideration.A single supplier and single retailer module are considered under"vendor with owner ship"and discrete demand.Based on risk sharing,2contract forms are proposed:Design1:Supplier pays fix amount fee to retailer as the lost sales compensation,while retailer shares the occurred holding cost of supplier.Desing2:Retailer pays fix amount fee to supplier and supplier bears the occurred lost sale penalty while retailer shares the occurred holding cost of supplier.Based on Zheng and Federgruen's(r,Q)and(s,S)model,the 2contracts' performances are studied under the 2inventory replenishing policies.The result indicates that the efficiency of supply chain under the 2contracts is satisfactory.And with proper contract parameters' designing,supply chain coordination is also possible.Meanwhile,the result is compared with revenue share contract,which shows that contracts with risk share can achieve higher supply chain efficiency.The later simulation proofs our result.The study shows that one contract performs differently under different supply chain environment;the inventory replenishing policy has impact on contracts performance.It is found that under certain circumstance,supply chain can benefit from sharing risk rather than sharing revenue.
【Fund】: 国家自然科学基金重点资助项目(71432007)
【CateGory Index】: F274
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【Citations】
Chinese Journal Full-text Database 4 Hits
1 YANG Jian-gong~1,WANG Guo-qing~2 (1.Guangdong University of Finance,Guangzhou 510521,China;2.College of Management,Jinan University,Guangzhou 510632,China);Inventory competitive products' revenue-sharing contract under VMI[J];系统工程理论与实践;2009-06
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【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 WANG Ai-hu;SHA Jin;FAN Lu;School of Business Administration,South China University of Technology;School of Economics and Commerce,South China University of Technology;;Research on the Necessity of Kaldor-Hicks Improvement in Vendor-Managed Inventory[J];工业工程与管理;2015-04
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7 FAN Chen;WANG Xiao-li;DING Chao;SU Qiang;School of Economics and Management,Tongji University;;On Contracts with Risk Share for VMI Program Under Replenishment Strategy[J];中国管理科学;2015-02
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1 ZHONG Lei-gang1,HU yong2,ZHANG Cui-hua1(1.School of Business and Management,Northeastern University,Shenyang 110004,China;2.Management Engineering Department,Nanchang Institute of Technology,Nanchang 330099,China);The Coordination Strategy Analysis of a Kind of Supply Chain on VMI[J];中国管理科学;2006-06
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