The impact of demand uncertainty on product line design under endogenous substitution

The existing product line design literature devotes little attention to the effect of demand uncertainty. Due to demand uncertainty, the supply‐demand mismatch is inevitable which leads to different degrees of lost sales depending on the configuration of product lines. In this article, we adopt a st...
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Autor*in:	Rong, Ying [verfasserIn] Chen, Ying‐Ju Shen, Zuo‐Jun Max

Format:	Artikel
Sprache:	Englisch

Erschienen:	2015

Rechteinformationen:	Nutzungsrecht: © 2015 Wiley Periodicals, Inc.

Schlagwörter:	product line design risk pooling pricing demand uncertainty information asymmetry

Übergeordnetes Werk:	Enthalten in: Naval research logistics - New York, NY : Wiley, 1987, 62(2015), 2, Seite 143-157
Übergeordnetes Werk:	volume:62 ; year:2015 ; number:2 ; pages:143-157

Links:	Volltext Link aufrufen Link aufrufen

DOI / URN:	10.1002/nav.21619

Katalog-ID:	OLC1962890996

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topic_title	320 DNB 85.35 bkl 85.03 bkl 85.32 bkl 85.00 bkl The impact of demand uncertainty on product line design under endogenous substitution product line design risk pooling pricing demand uncertainty information asymmetry
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title	The impact of demand uncertainty on product line design under endogenous substitution
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title_full	The impact of demand uncertainty on product line design under endogenous substitution
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title_sort	impact of demand uncertainty on product line design under endogenous substitution
title_auth	The impact of demand uncertainty on product line design under endogenous substitution
abstract	The existing product line design literature devotes little attention to the effect of demand uncertainty. Due to demand uncertainty, the supply‐demand mismatch is inevitable which leads to different degrees of lost sales depending on the configuration of product lines. In this article, we adopt a stylized two‐segment setup with uncertain market sizes and illustrate the interplay between two effects: risk pooling that mitigates the impact of demand uncertainty and market segmentation that facilitates consumer differentiation. Compared to downward substitution, inducing bidirectional substitution through product line decisions including quality levels and prices can yield greater risk pooling effects. However, we show that the additional benefit from the risk pooling effect cannot compensate for the reduced market segmentation effect. We demonstrate that the presence of demand uncertainty can reduce the benefit of market segmentation and therefore the length of product lines in terms of the difference between products. We also propose three heuristics that separate product line and production decisions; each of these heuristics corresponds to one particular form of demand substitution. Our numerical studies indicate that the best of the three heuristics yields performance that is close to optimality. © 2015 Wiley Periodicals, Inc. Naval Research Logistics 62: 143–157, 2015
abstractGer	The existing product line design literature devotes little attention to the effect of demand uncertainty. Due to demand uncertainty, the supply‐demand mismatch is inevitable which leads to different degrees of lost sales depending on the configuration of product lines. In this article, we adopt a stylized two‐segment setup with uncertain market sizes and illustrate the interplay between two effects: risk pooling that mitigates the impact of demand uncertainty and market segmentation that facilitates consumer differentiation. Compared to downward substitution, inducing bidirectional substitution through product line decisions including quality levels and prices can yield greater risk pooling effects. However, we show that the additional benefit from the risk pooling effect cannot compensate for the reduced market segmentation effect. We demonstrate that the presence of demand uncertainty can reduce the benefit of market segmentation and therefore the length of product lines in terms of the difference between products. We also propose three heuristics that separate product line and production decisions; each of these heuristics corresponds to one particular form of demand substitution. Our numerical studies indicate that the best of the three heuristics yields performance that is close to optimality. © 2015 Wiley Periodicals, Inc. Naval Research Logistics 62: 143–157, 2015
abstract_unstemmed	The existing product line design literature devotes little attention to the effect of demand uncertainty. Due to demand uncertainty, the supply‐demand mismatch is inevitable which leads to different degrees of lost sales depending on the configuration of product lines. In this article, we adopt a stylized two‐segment setup with uncertain market sizes and illustrate the interplay between two effects: risk pooling that mitigates the impact of demand uncertainty and market segmentation that facilitates consumer differentiation. Compared to downward substitution, inducing bidirectional substitution through product line decisions including quality levels and prices can yield greater risk pooling effects. However, we show that the additional benefit from the risk pooling effect cannot compensate for the reduced market segmentation effect. We demonstrate that the presence of demand uncertainty can reduce the benefit of market segmentation and therefore the length of product lines in terms of the difference between products. We also propose three heuristics that separate product line and production decisions; each of these heuristics corresponds to one particular form of demand substitution. Our numerical studies indicate that the best of the three heuristics yields performance that is close to optimality. © 2015 Wiley Periodicals, Inc. Naval Research Logistics 62: 143–157, 2015
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container_issue	2
title_short	The impact of demand uncertainty on product line design under endogenous substitution
url	http://dx.doi.org/10.1002/nav.21619 http://onlinelibrary.wiley.com/doi/10.1002/nav.21619/abstract http://search.proquest.com/docview/1664399350
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