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Dive into the research topics where Xiaoming Yan is active.

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Featured researches published by Xiaoming Yan.


European Journal of Operational Research | 2010

A note on coordination in decentralized assembly systems with uncertain component yields

Xiaoming Yan; Minghui Zhang; Ke Liu

Gurnani and Gerchak [H. Gurnani, Y. Gerchak, Coordination in decentralized assembly systems with uncertain component yields, European Journal of Operational Research 176 (2007) 1559-1576] study coordination of a decentralized assembly system in which the demand of the assembler is deterministic and the component yields are random. They present incentive alignment control mechanisms under which system coordination is achieved. In this note, we extend Gurnani and Gerchaks model to the case of positive salvage value and n asymmetric suppliers, and show that the shortage penalty contract which can coordinate Gurnani and Gerchaks model no longer coordinates the extended model. Furthermore, we present a new kind of contract, surplus subsidy contract, to coordinate the extended model and prove that the profit of the supply chain under coordination can be arbitrarily divided between the component suppliers and the assembler.


Operations Research Letters | 2009

An inventory system with two suppliers and default risk

Xiaoming Yan; Ke Liu

This paper considers the problem of joint replenishment and pricing for a single product with two suppliers and supply disruption. Our objective is to maximize the total profit by choosing an appropriate replenishment and pricing policy. We not only obtain that the form of the optimal policy has a (s,S,p,@s,@S)-type, but also analyze how supply disruption affects the profit function and the optimal policy.


International Journal of Production Research | 2014

A newsvendor model with capital constraint and demand forecast update

Xiaoming Yan; Yong Wang

We study a newsvendor problem with capital constraint and demand forecast update. The newsvendor has two instants to order from a supplier prior to a single selling season. While the demand is uncertain, the newsvendor can improve the forecast by utilizing the market signal observed between the first and second instants. We analyze the newsvendor’s optimal ordering policy in two cases: risk-neutrality and risk-aversion. Our analysis suggests that the optimal policy in each case is characterized by a critical value: a target safety capital. Under this policy, part of capital is left to use at instant 2 if and only if the initial capital is above the target safety capital. When this happens, the order quantity at instant 1 decreases as the initial capital increases. We further analyze the effect of information update on the newsvendor’s ordering policy. Our results indicate that more capital should be left to use at instant 2 when the correlation coefficient between market information and demand becomes large or when the newsvendor is more risk-averse.


Operations Research | 2014

Optimal Pricing and Inventory Control Policy with Quantity-Based Price Differentiation

Ye Lu; Youhua (Frank) Chen; Miao Song; Xiaoming Yan

A firm facing price dependent stochastic demand aims to maximize its total expected profit over a planning horizon. In addition to the regular unit selling price, the firm can utilize quantity discounts to increase sales. We refer to this dual-pricing strategy as quantity-based price differentiation. At the beginning of each period, the firm needs to make three decisions: replenish the inventory, set the unit selling price if the unit sales mode is deployed, and set the quantity-discount price if the quantity-sales mode is deployed (or the combination of the two modes of sales). We identify conditions under which the optimal inventory control policy and selling/pricing strategy is well structured. Remarkably, under a utility-based demand framework, these conditions can be unified by a simple regularity assumption that has long been used in the auction and mechanism design literature. Moreover, sharper structural results are yielded for the optimal selling strategy. We also examine the comparative advantag...


Journal of The Chinese Institute of Industrial Engineers | 2010

Effects of setup cost and random yield on the structure of optimal ordering policy

Xiaoming Yan; Ke Liu

In this article, we consider an economic order quantity (EOQ) model with multiple suppliers and random yield. We show that the structure of the optimal ordering policy is not only dependent on the structure of setup cost but also on the distributions of random yield. For some particular cases of random yield, the optimal order quantity from each supplier can be formulated as an explicit form.


International Journal of Production Research | 2016

Comparison of Bertrand and Cournot competitions under random yield

Xiaoming Yan; Yong Wang; Zhaofu Hong

We look at a Bertrand model in which each firm may be unreliable with random yield, so the total quantity brought into market is uncertain. Under mild conditions, the Bertrand model with random yield has a unique Nash equilibrium, in which the prices and production quantities are determined by each firm’s production cost and reliability. In the case of symmetric firms, we compare Bertrand competition with Cournot competition by numerical examples, and find that Bertrand competition yields lower prices and less profits than Cournot competition. Furthermore, in the case of symmetric firms with 0–1 yields, we explicitly show that Bertrand competition yields lower prices and less profits than Cournot competition, and the comparison between the quantities of Bertrand and Cournot competition is dependent on the value of reliability. When the reliability is high, Cournot competition yields less quantities than Bertrand competition. Otherwise, the other hand holds.


Journal of Systems Science & Complexity | 2014

Optimal pricing, production, and sales policies for new product under supply constraint

Xiaoming Yan; Ke Liu; Yong Wang

This paper considers a firm that sells a durable product with a given market potential. The purpose of the firm is to maximize its profit by determining how much capacity to install before the sales horizon, how many products to produce in accordance with the capacity, and how many products to sell by pricing. Appealing to Pontryagin maximum principle in control theory, the authors obtain the closed-forms of all optimal decisions the firm should make. Furthermore, the optimal production rate and optimal sales rate are both equal to the demand rate, which is caused by the optimal pricing policy during the whole horizon, and the optimal pricing path is increasing with the cost of installing a unit of capacity. Furthermore, numerical analysis reveals the visual impression of the relationship of the parameters.


Operations Research Letters | 2014

Optimality of two-sided ( α , Σ ) policy in capacity expansion problem

Xiaoming Yan; Yong Wang

Ye and Duenyas (2007) consider a finite-horizon capacity investment problem with two-sided fixed-capacity adjustment costs. In this note, we consider Ye and Duenyass capacity investment problem over a horizon of infinite periods with stationary parameters. We show that the optimal policy has a two-sided ( ? , Σ ) structure and the parameters in the optimal policy can be determined by the single-period profit function.


Operations Research Letters | 2012

Capacity competition under random yield

Xiaoming Yan

Abstract We consider a decentralized setting where the suppliers choose their production capacity levels, and the retailer makes ordering decisions based on the suppliers’ capacities, where all firms are risk-neutral and any given supplier, who leads to random yield in production, is defined to be unreliable. We show that the suppliers install capacity levels such that the expected shortage for each supplier is the same and the retailer orders along each supplier’s capacity level.


Journal of The Chinese Institute of Industrial Engineers | 2011

Replenishment and pricing decisions for inventory systems with random supply in a fluctuated environment

Xiaoming Yan

This article considers the problem of joint replenishment and pricing decisions for a single product with fixed ordering costs and random supply in a fluctuated environment. We assume that the environment comprises a Markov chain with finite states and all the parameters are dependent on the environment states, such as supply, demand, and cost structure. Our objective is to maximize the total expected profit during the whole sales horizon by choosing an appropriate replenishment and pricing policy. We show that the form of the optimal ordering and pricing policy has an environment-dependent (s, S, p)-type. Moreover, we analyze the operational effects of random supply on the optimal policy and obtain that the optimal profit increases with the probability of receiving orders. The optimal profit function for the finite horizon problem converges to that for the infinite horizon problem under some mild conditions.

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Ke Liu

Chinese Academy of Sciences

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Minghui Zhang

Chinese Academy of Sciences

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Ye Lu

City University of Hong Kong

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Ping Cao

University of Science and Technology of China

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Miao Song

University of Hong Kong

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Sean X. Zhou

The Chinese University of Hong Kong

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Youhua (Frank) Chen

The Chinese University of Hong Kong

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