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Issue No.01 - January/February (2005 vol.20)
pp: 36-41
Sabyasachi Saha , University of Tulsa
ABSTRACT
Supply chains form an integral cornerstone of the daily operations of today's business enterprises. The effectiveness of the processes underlying the supply chain determines the steady flow of raw materials and finished products between marketplace entities. Electronic institutions facilitate free and fair competition between providers and suppliers vying for contracts from customers and manufacturers. We assume that contracts are awarded in such electronic supply chains via competitive auction-based protocols. Robust, opportunistic scheduling strategies can significantly improve suppliers' competitiveness by identifying market niches and strategically positioning available resources to exploit such opportunities. Effective price adjustment mechanisms are required to maximally exploit such lucrative but temporary market opportunities. Here, we evaluate varying degrees of aggressive price adjustment mechanisms used by suppliers to exploit market niches created by anticipatory scheduling strategies. We derive recommendations for choosing the degree of aggressiveness in price adjustment based on recent success in winning contracts.
INDEX TERMS
software agents, supply chain management, pricing and scheduling strategies, wealth maximization, market niche
CITATION
Sabyasachi Saha, "Aggressive Pricing to Exploit Market Niches in Supply Chains", IEEE Intelligent Systems, vol.20, no. 1, pp. 36-41, January/February 2005, doi:10.1109/MIS.2005.3
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