The optimal ordering decision of a retailer with a spot buying
研究了零售商在长期合同下面对随机现货价格和不确定市场需求时的最优订货决策，分析了现货价格波动、现货市场补货能力限制及市场参数变化对决策的影响，为零售商制定采购策略提供管理建议。
This paper considers a retailer's optimal ordering decision in a long-term contract in a portfolio procurement. Under a potential spot replenishment with a random spot price, we obtain the optimal ordering decision in a long-term contract for a retailer to meet an uncertain market demand. The contribution of the paper is as follows. First, we study the influence of spot price variation on a retailer's optimal ordering decision in a long-term contract. Specifically, the changing direction of a retailer's optimal ordering decision with respect to the spot price variation has been well examined. Second, we investigate the relations between a retailer's optimal ordering decision in a long-term contract and a limited replenishment capacity in the spot market. It can help a retailer to decide the optimal ordering quantity in a long-term contract when the spot replenishment capacity is limited. Third, we check the relations between a retailer's optimal ordering decision and market parameter variations, which are important for a retailer to devise the optimal ordering policy in a long-term contract with a spot replenishment. Based on the results, managerial suggestions are derived and the study thus contributes to a retailer's optimal ordering decision in a long-term contract in a portfolio procurement.