Supply Chain Coordination Considering Boundedly Rational Strategic Consumers

Facing with perishable products such as clothes and electronic products,customers may not buy them immediately,but wait for the discount in the end of selling period.They are called strategic consumers,who will predict the product price and product availability of the discount period,and decide when to buy.As the demand side of the supply chain,strategic consumers have an important impact on supply chain management.In the supply chain,decentralized decision-making often reduces the overall profit of the supply chain,and supply chain contracts have been widely applied to coordinate the supply chain.Most studies of strategic consumers assumed that consumers are perfectly rational.Recently some studies have found that strategic consumers are boundedly rational.Therefore,considering the purchasing behavior of bounded rational strategic consumers can help companies grasp the market demand and coordinate the supply chain better.In addition,the quick response strategy is widely used in many industries(such as the clothing and electronics industries),so it is worth exploring the impact of quick response strategy on supply chain coordination.Based on the above background,this thesis sets the centralized supply chain as a benchmark,then studies in decentralized supply chain with wholesale price contract and markdown price contract,how to design the contract parameters to achieve the supply chain coordination.Finally,the thesis explores the influence of quick response strategy on supply chain coordination by comparing the supply chains with and without QR strategy.The results show that in the centralized supply chain,the retailer's optimal profit decreases with the rate of the customers' decreasing product valuation.Moreover,when the inventory level is high,as the customers become less rational or more risk averse,the retailer's profit will increase.The QR strategy can increase the retailer's profit,while the customers' bounded rationality may increase or decrease the value of QR.In the decentralized supply chain without QR strategy,wholesale price contract cannot coordinate the supply chain.The efficiency of wholesale price contract decreases in the wholesale price.Markdown money contract can coordinate the supply chain by adjusting the wholesale price and markdown money.In the decentralized supply chain with QR strategy,wholesale price contract and markdown money contract can coordinate the supply chain.Compared with a supply chain without QR strategy,when,the wholesale price of the quick response is high,the QR strategy will increase the wholesale price of the initial order.