IEOR-DRO Seminar: Jeannette Song (Duke)

September 12, 2017 | 1:10pm - 2:00pm

IEOR-DRO Seminar: Jeannette Song (Duke)

Mudd Hall, 500 W. 120 St., New York, NY 10027 303

Abstract: Advanced technology platforms – such as eProcurment systems, automatic electronic payments, e-commerce platforms, RFID, and mobile devices – have greatly increased the variety and flexibility of payment timing between supply chain stages, and this trend is increasing as innovations in the broader Fintech continue to emerge. Managing the payment timing between firms has become an important instrument within the general topic of supply chain finance. This paper develops a modeling framework and methodology to evaluate the impact of different payment timing arrangements in a serial supply chain. Under a class of payment timing contracts, we show how to express payment flows at each stage in terms of standard physical inventory metrics and the demand arrival process. We also show how to calculate the average inventory costs for each stage under given inventory policies and payment timing contracts. Applying this framework to the two-echelon base stock model, we prove that the cost of decentralization under standard wholesale price contracts is significantly driven by too much inventory at the supplier; it is not exclusively driven by too little inventory at the retailer as in the selling-to-the-newsvendor literature. On the other hand, there exists a wholesale price contract with partial consignment timing that can achieve the centralized inventory levels at both the supplier and the retailer. (Joint work with Jordan Tong and Gregory DeCroix.)

Bio: Jing-Sheng Jeannette Song, Professor of Operations Management, Fuqua School of Business, Duke University; PhD (Columbia University)

Professor Song’s research interests lie in operations and supply chain management. Although her main focus is on inventory management, she has also studied a variety of supply chain issues arisen from rapid developments of globalization and technology, such as global sourcing strategies, socially responsible supply chain development, e-commerce channel design, and the impact of 3D printing on spare parts logistics. She has published numerous articles in leading international academic journals such as Management Science, Manufacturing & Service Operations Management (M&SOM), and Operations Research. Professor Song is the recipient of several research grants from the U.S. National Science Foundation and the Natural Science Foundation of China. In 2003, she was awarded Distinguished Overseas Young Scholar by the Natural Science Foundation of China. In 2009, she was named the Chang Jiang Scholar by the Ministry of Education in China. In 2015, she received Thousand Talents Award from the Organization Department of the CCCPC in China. In 2017, she was named a Distinguished MSOM Fellow. 

Professor Song is also active in professional services. She has served on the editorial boards of several leading academic journals, including Area Editor for Operations Research and Department Editor for IIE Transactions, as well as Associate Editor for Management Science, Operations Research, M&SOM, and Naval Research Logistics. She is also a past President of the Manufacturing and Service Operations Management (MSOM) Society of INFORMS. In 2014, she received the MSOM Distinguished Service Award for her many contributions over the years to the society. 

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