Production and Operations Management

The Cost Of Keeping Up With Consumers

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.

Art of the Supply Chain Deal

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.

A Dynamic Pricing Model for Non-Clairvoyants

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."

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