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Vijay Aggarwal - One of the best experts on this subject based on the ideXlab platform.
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erratum to incorporating Transport Cost in the lot size and pricing decisions with downward sloping demand international journal of production economics 95 297 305
2006Co-Authors: Prakash L Abad, Vijay AggarwalAbstract:Abstract We correct our earlier formulation [Abad, P., Aggarwal, V., 2005. Incorporating Transport Cost in the lot size and pricing decisions with downward sloping demand. Int. J. Prod. Econ. 95, 297–305] in which the carrying Cost was assumed to be proportional to the purchase Cost. Since the buyer/reseller is responsible for paying for freight, the item value for estimating carrying Cost should include not only the purchase Cost but also the per unit Transportation Cost [Hadley, G., Whitin, T., 1963. Analysis of Inventory Systems. Prentice-Hall, Englewood Cliffs, NJ; Tersine, R.J., Barman, S., 1994. Optimal lot sizes for unit and shipping discount situations. IIE Transaction, 26(2), 97–101].
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incorporating Transport Cost in the lot size and pricing decisions with downward sloping demand
2005Co-Authors: Prakash L Abad, Vijay AggarwalAbstract:Abstract There is an increased emphasis in supply chain management on making all Costs transparent. This has led to greater scrutiny of freight Costs by the resellers who want to control their inbound logistics Costs. An astute reseller may opt for paying freight when he sees an opportunity for savings. In some cases, a supplier may only sell on conditions of FOB origin. In this paper, we consider a reselling situation wherein the final demand is sensitive to the selling price and the reseller is responsible for paying for the freight. Given that Transportation Costs can be almost 50% of the logistics Cost (S.R. Swenseth, M.R. Godfrey, Int. J. Prod. Econ. 77 (2002) 113), there is a need for coordination between the reseller's purchasing function and his pricing policy. In this study, we formulate a model for determining the optimal lot size and the selling price for the reseller. Existing models for the problem have treated freight breakpoints in the same way as price breakpoints in a quantity discount schedule. In doing so, they have ignored the option of over-declaring the weight of the shipment which is routinely available to the buyer/shipper in practice. In this paper, we assume that the reseller has such an option. We also assume that in setting the size of the order/shipment, the reseller can choose between less-than-full-truckload or full-truckload shipment.
Rocco Huang - One of the best experts on this subject based on the ideXlab platform.
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distance and trade disentangling unfamiliarity effects and Transport Cost effects
2007Co-Authors: Rocco HuangAbstract:Abstract This paper provides evidence supporting Grossman's (Comments on Alan V. Deardorff, Determinants of bilateral trade: Does gravity work in a neoclassical world?. In: Jeffrey A. Frankel (Ed.), The regionalization of the world economy. Chicago: University of Chicago for NBER; 1996) claim that not only Transport Costs but also unfamiliarity can explain the negative correlation between geographic distances and bilateral trade volumes. A gravity model that controls for as many natural causes of trade as possible reveals that countries high in uncertainty-aversion (based on Hofstede's survey) export disproportionately less to distant countries (with which they are presumably less familiar). More important, this result is mainly driven by differentiated products, not by products with international organized exchanges or with reference prices. For Transport Costs alone to explain such a trade pattern, one would have to assume that distance-related ad valorem Transport Costs are higher when a trade route originates from a high uncertainty-aversion country, which is unlikely. This trade pattern is easy to explain, however, if one accepts that geographic distance is a proxy for unfamiliarity and that exporters in high uncertainty-aversion countries are more sensitive to informational ambiguity. A further result is that high uncertainty-aversion countries trade less and thus grow poorer in the long run, which suggests that cultural factors are as important as geographic ones in determining trade openness and prosperity.
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distance and trade disentangling unfamiliarity effects and Transport Cost effects
2006Co-Authors: Rocco HuangAbstract:This paper provides evidence supporting Grossman(1996)’s claim that not only Transport Costs but also unfamiliarity can explain the negative correlation between geographic distances and bilateral trade volumes. A gravity model that controls for as many natural causes of trade as possible reveals that countries high in uncertainty-aversion (based on Hofstede’s survey) export disproportionately less to distant countries (with which they are presumably less familiar). More important, this result is mainly driven by differentiated products, not by products with international organized exchanges or with reference prices. For Transport Costs alone to explain such a trade pattern, one would have to assume that distance-related ad valorem Transport Costs are higher when a trade route originates from a high uncertainty-aversion country, which is unlikely. This trade pattern is easy to explain, however, if one accepts that geographic distance is a proxy for unfamiliarity and that exporters in high uncertainty-aversion countries are more sensitive to informational ambiguity. A further result is that high uncertainty-aversion countries trade less and thus grow poorer in the long run, which suggests that cultural factors are as important as geographic ones in determining trade openness and prosperity.
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distance and trade disentangling unfamiliarity effects and Transport Cost effects
2005Co-Authors: Rocco HuangAbstract:This paper provides evidence supporting Grossman’s (1996) claim that not only Transport Costs but also unfamiliarity can explain the negative correlation between geographic distances and bilateral trade volumes. A gravity model that controls for as many natural causes of trade as possible reveals that countries high in uncertainty-aversion (based on Hofstede’s survey) export disproportionately less to distant countries (with which they are presumably less familiar). More important, this result is mainly driven by differentiated products, not by products with international organized exchanges or with reference prices. For Transport Costs alone to explain such a trade pattern, one would have to assume that distance-related ad valorem Transport Costs are higher when a trade route originates from a high uncertainty-aversion country, which is unlikely. This trade pattern is easy to explain, however, if one accepts that geographic distance is a proxy for unfamiliarity and that exporters in high uncertainty-aversion countries are more sensitive to informational ambiguity. A further result is that high uncertainty- aversion countries trade less and thus grow more slowly in the long run, which suggests that cultural factors are as important as geographic ones in determining trade openness.
Prakash L Abad - One of the best experts on this subject based on the ideXlab platform.
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erratum to incorporating Transport Cost in the lot size and pricing decisions with downward sloping demand international journal of production economics 95 297 305
2006Co-Authors: Prakash L Abad, Vijay AggarwalAbstract:Abstract We correct our earlier formulation [Abad, P., Aggarwal, V., 2005. Incorporating Transport Cost in the lot size and pricing decisions with downward sloping demand. Int. J. Prod. Econ. 95, 297–305] in which the carrying Cost was assumed to be proportional to the purchase Cost. Since the buyer/reseller is responsible for paying for freight, the item value for estimating carrying Cost should include not only the purchase Cost but also the per unit Transportation Cost [Hadley, G., Whitin, T., 1963. Analysis of Inventory Systems. Prentice-Hall, Englewood Cliffs, NJ; Tersine, R.J., Barman, S., 1994. Optimal lot sizes for unit and shipping discount situations. IIE Transaction, 26(2), 97–101].
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incorporating Transport Cost in the lot size and pricing decisions with downward sloping demand
2005Co-Authors: Prakash L Abad, Vijay AggarwalAbstract:Abstract There is an increased emphasis in supply chain management on making all Costs transparent. This has led to greater scrutiny of freight Costs by the resellers who want to control their inbound logistics Costs. An astute reseller may opt for paying freight when he sees an opportunity for savings. In some cases, a supplier may only sell on conditions of FOB origin. In this paper, we consider a reselling situation wherein the final demand is sensitive to the selling price and the reseller is responsible for paying for the freight. Given that Transportation Costs can be almost 50% of the logistics Cost (S.R. Swenseth, M.R. Godfrey, Int. J. Prod. Econ. 77 (2002) 113), there is a need for coordination between the reseller's purchasing function and his pricing policy. In this study, we formulate a model for determining the optimal lot size and the selling price for the reseller. Existing models for the problem have treated freight breakpoints in the same way as price breakpoints in a quantity discount schedule. In doing so, they have ignored the option of over-declaring the weight of the shipment which is routinely available to the buyer/shipper in practice. In this paper, we assume that the reseller has such an option. We also assume that in setting the size of the order/shipment, the reseller can choose between less-than-full-truckload or full-truckload shipment.
Christian Léonard - One of the best experts on this subject based on the ideXlab platform.
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from the schrodinger problem to the monge kantorovich problem
2012Co-Authors: Christian LéonardAbstract:Abstract The aim of this article is to show that the Monge–Kantorovich problem is the limit, when a fluctuation parameter tends down to zero, of a sequence of entropy minimization problems, the so-called Schrodinger problems. We prove the convergence of the entropic optimal values to the optimal Transport Cost as the fluctuations decrease to zero, and we also show that the cluster points of the entropic minimizers are optimal Transport plans. We investigate the dynamic versions of these problems by considering random paths and describe the connections between the dynamic and static problems. The proofs are essentially based on convex and functional analysis. We also need specific properties of Γ -convergence which we didnʼt find in the literature; these Γ -convergence results which are interesting in their own right are also proved.
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A general duality theorem for the Monge-Kantorovich Transport problem
2012Co-Authors: Mathias Beiglböck, Christian Léonard, Walter SchachermayerAbstract:The duality theory of the Monge--Kantorovich Transport problem is analyzed in a general setting. The spaces $X, Y$ are assumed to be polish and equipped with Borel probability measures $\mu$ and $\nu$. The Transport Cost function $c:X\times Y \to [0,\infty]$ is assumed to be Borel. Our main result states that in this setting there is no duality gap, provided the optimal Transport problem is formulated in a suitably relaxed way. The relaxed Transport problem is defined as the limiting Cost of the partial Transport of masses $1-\varepsilon$ from $(X,\mu)$ to $(Y, \nu)$, as $\varepsilon >0$ tends to zero. The classical duality theorems of H.\ Kellerer, where $c$ is lower semi-continuous or uniformly bounded, quickly follow from these general results.
Xiuli Wang - One of the best experts on this subject based on the ideXlab platform.
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logistics scheduling to minimize inventory and Transport Costs
2009Co-Authors: Xiuli Wang, T C E ChengAbstract:Abstract We study a logistics scheduling problem where a manufacturer receives raw materials from a supplier, manufactures products in a factory, and delivers the finished products to a customer. The supplier, factory and customer are located at three different sites. The objective is to minimize the sum of work-in-process inventory Cost and Transport Cost, which includes both supply and delivery Costs. For the special case of the problem where all the jobs have identical processing times, we show that the inventory Cost function can be unified into a common expression for various batching schemes. Based on this characteristic and other optimal properties, we develop an O ( n ) algorithm to solve this case. For the general problem, we examine several special cases, identify their optimal properties, and develop polynomial-time algorithms to solve them optimally.
