As COVID-19 grew into a pandemic, consumers did what they usually do when disaster looms: flocked to retailers, clearing store shelves of essentials – toilet paper, hand sanitizer, soap. This consumer stockpiling urge also kicks in before hurricanes and is the subject of new research from the University of Maryland’s Robert H. Smith School of Business.
Production and Operations Management
Online retail giants like Amazon and Walmart rely on independent third-party sellers for their vast array of product offerings and trust them to know their markets for specific items. But consumers don’t like when the products they want are unavailable, and neither do the retailers. They need their independent sellers to be able to fulfill orders on time and manage inventory effectively. New research from the University of Maryland’s Robert H. Smith School of Business pinpoints the best way for online retailers to make sure that happens.
For companies, going green in IT operations not only reduces energy consumption, it also boosts profits, according to new research from the University of Maryland’s Robert H. Smith School of Business.
A negotiation model developed at the University of Maryland’s Robert H. Smith School of Business shows how supply chain networks can improve efficiency when manufacturers have different valuations or willingness to pay for the same component parts.
Yi Xu, associate professor of operations management at Maryland Smith, and Alper Nakkas from the University of Texas at Arlington describe their findings in Production and Operations Management.
Setting prices for trendy items with limited sales history requires a certain amount of guesswork — unless you're clairvoyant. Then you can look into the future and anticipate demand. But for everyone else, professor Zhi-Long Chen at the University of Maryland's Robert H. Smith School of Business and two co-authors have developed a dynamic pricing model that allows retailers to "minimize maximum regret."
Giving Outdated Tech a Second Life Away from Landfills
Business Models and Strategy Increasingly Vital
Perhaps lost amid the "repeal and replace Obamacare" debate was an important directive issued earlier this year by the Trump administration that places renewed focus on health information exchanges (HIEs).