Study of multi-resolution modeling framework in joint operations simulation

2018 ◽  
Vol 13 (2) ◽  
pp. 278-301 ◽  
Author(s):  
Gongbing Bi ◽  
Ping Chen ◽  
Yalei Fei

Purpose The purpose of the paper is to explore impacts of financing and supplier subsidy on capital-constrained retailer and the value of returns subsidy contract under a situation where the retailer makes joint operations and finance decisions. Design/methodology/approach This paper considers a two-level supply chain, including a retailer and a supplier. Facing problems of capital constraints and even customer returns, the newsvendor-like retailer orders from a well-capitalized supplier. The supplier allows the retailer a delay in payment and provides a subsidy contract to alleviate its problems if it is profitable. Considering their difference of initial capital status, the retailer is assumed to be Follower of Stackelberg Game and the supplier is the Leader. Findings The supplier return subsidy contract has some merits for both of partners in the chain. And it does not coordinate the supply chain when the retailer has enough initial capital; however, when the retailer is capital constrained, it does. In addition, the retailer’s initial capital level significantly affects the supplier’s subsidy decision. Research limitations/implications Return rate is simplified to a fixed proportion of completed demand. In addition, trade credit is only financing source in this paper, and other types of financing methods, such as bank credit, can be taken too. Originality/value This paper first incorporates trade credit financing and customer returns into a modeling framework to investigate the capital-constrained retailer’s joint operations and finance decisions and the value of supplier’s subsidy contract.


1976 ◽  
Author(s):  
William F. Storm ◽  
Daniel Hapenney
Keyword(s):  

2008 ◽  
Vol 59 (7) ◽  
Author(s):  
Sanda Florentina Mihalache

A modelling approach that will facilitate an in-depth understanding of the interactions of the different phenomena, human interactions and environmental factors constituting �real world� industrial processes is presented. An important industrial system such as Gas Processing Unit (GPU) have inter-related internal process activities coexisting with external events and requires a real time inter-disciplinary approach to model them. This modeling framework is based on identifying as modules, the part of processes that have interactions and can be considered active participants in overall behaviour. The selected initial set of modules are structured as Petri net models and made to interact iteratively to provide process states of the system. The modeling goal is accomplished by identifying the evolution of the process states as a means of effective representation of the �actual running�� of the industrial process. The paper discusses the function and the implementation of the modelling method as applicable to the industrial case of GPU.


Sign in / Sign up

Export Citation Format

Share Document