Proceedings of the 2022 3rd International Conference on E-commerce and Internet Technology (ECIT 2022)

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A Multi-product Newsvendor Problem Model Based on Demand Transfer and Mental Accounting in the Context of E-Commerce

Authors
Yuan Qiao1, *, Wenhao Yang1, Ziyao Sun1
1Central University of Finance and Economics, Beijing, China
*Corresponding author. Email: 2019311341@email.cufe.edu.cn
Corresponding Author
Yuan Qiao
Available Online 10 November 2022.
DOI
10.2991/978-94-6463-005-3_11How to use a DOI?
Keywords
Multi-Product Newsvendor Problem; demand transfer; mental accounting; genetic algorithm; budget constraints; e-commerce
Abstract

With the development of digital economy which multi-product co-management is an essential feature, e-commerce becomes harder to make decisions in the process of management. This paper studies the Multi-Product Newsvendor Problem with demand transfer, budget constraints and mental accounting under demand uncertainty. We build a model to depict the multi-product demand and profit gain from e-commerce, and give the optimal order strategy for e-commerce by heuristic algorithm analysis. Then, a sensitivity analysis is conducted to study the effects of product transfer rate, budget constraints and mental accounting on the order strategy. The conclusion demonstrates that e-commerce should enhance the product demand transfer rate by various means and overcome the impacts of mental accounting and budget constraints.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 3rd International Conference on E-commerce and Internet Technology (ECIT 2022)
Series
Atlantis Highlights in Engineering
Publication Date
10 November 2022
ISBN
10.2991/978-94-6463-005-3_11
ISSN
2589-4943
DOI
10.2991/978-94-6463-005-3_11How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yuan Qiao
AU  - Wenhao Yang
AU  - Ziyao Sun
PY  - 2022
DA  - 2022/11/10
TI  - A Multi-product Newsvendor Problem Model Based on Demand Transfer and Mental Accounting in the Context of E-Commerce
BT  - Proceedings of the 2022 3rd International Conference on E-commerce and Internet Technology (ECIT 2022)
PB  - Atlantis Press
SP  - 97
EP  - 108
SN  - 2589-4943
UR  - https://doi.org/10.2991/978-94-6463-005-3_11
DO  - 10.2991/978-94-6463-005-3_11
ID  - Qiao2022
ER  -