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Adaptive Tactical Pricing in Multi-Agent Supply Chain Markets Using Economic Regimes

Alexander Hogenboom, Wolfgang Ketter, Jan van Dalen, Uzay Kaymak, John Collins, Alok Gupta
2015 Decision Sciences  
Pricing Using Economic Regimes prices.  ...  In today's complex and dynamic supply chain markets, information systems are essential for effective supply chain management.  ...  This increase in complexity is due to increased flexibility (such as multi-sourcing arrangements) and dynamic relationships among supply chain entities due to global market forces.  ... 
doi:10.1111/deci.12146 fatcat:rs6iqr5j5rcyveixr4vwse7yfy

Detecting and forecasting economic regimes in multi-agent automated exchanges

Wolfgang Ketter, John Collins, Maria Gini, Alok Gupta, Paul Schrater
2009 Decision Support Systems  
We validate our methods by presenting experimental results in a case study, the Trading Agent Competition for Supply Chain Management.  ...  The agent can use this information for tactical decisions, such as pricing, and strategic decisions, such as product mix and production planning.  ...  We demonstrate our approach in the context of an autonomous agent that is designed to compete in the Trading Agent Competition for Supply Chain Management (TAC SCM) [6] .  ... 
doi:10.1016/j.dss.2009.05.012 fatcat:aj477v5dmzh2hnypphfcic6dpe

Real-Time Tactical and Strategic Sales Management for Intelligent Agents Guided by Economic Regimes

Wolfgang Ketter, John Collins, Maria Gini, Alok Gupta, Paul Schrater
2012 Information systems research  
We evaluate our models using a testbed derived from the Trading Agent Competition for Supply Chain Management, a supply chain environment characterized by competitive procurement, sales markets, and dynamic  ...  These "regime" models are developed using statistical analysis of historical data and are used in real time to characterize observed market conditions and predict the evolution of market conditions over  ...  Bidders could also use economic regimes to predict different market regimes and associated prices and align all elements of the supply chain accordingly, especially procurement and sales.  ... 
doi:10.1287/isre.1110.0415 fatcat:urcro6ur5jhf7kg2u3akvrd3hq

Identifying and Forecasting Economic Regimes in TAC SCM [chapter]

Wolfgang Ketter, John Collins, Maria Gini, Alok Gupta, Paul Schrater
2006 Lecture Notes in Computer Science  
We use a Gaussian Mixture Model to represent the probabilities of market prices. By clustering these probabilities we identify different economic regimes.  ...  The characteristics of economic regimes are learned from historic data and used, together with real-time observable information, to identify the current market regime and to forecast market changes.  ...  The Supply-Chain Management Trading Agent Competition [Sadeh et al., 2003 ] (TAC SCM) involves a Supply Chain Management scenario in which in each round six autonomous agents attempt to maximize profit  ... 
doi:10.1007/11888727_9 fatcat:h4o6fhzoz5axtl76ylpge5tkwm

Research Commentary—Designing Smart Markets

Martin Bichler, Alok Gupta, Wolfgang Ketter
2010 Information systems research  
The idea of smart markets revolves around using theoretically supported computational tools to both understand the characteristics of complex trading environments and multiechelon markets and help human  ...  This phenomenon is starting to draw considerable interdisciplinary attention from the researchers in computer science, operations research, and economics communities.  ...  mechanisms with adaptive, selfinterested agents, under any technical and economic constraints that future smart markets may impose.  ... 
doi:10.1287/isre.1100.0316 fatcat:yoi7t3bmlrfcrfbnic3ifqyrh4

A predictive empirical model for pricing and resource allocation decisions

Wolfgang Ketter, John Collins, Maria Gini, Paul Schrater, Alok Gupta
2007 Proceedings of the ninth international conference on Electronic commerce - ICEC '07  
We validate our model by presenting experimental results obtained in the Trading Agent Competition for Supply Chain Management.  ...  We present a semi-parametric model that describes pricing behaviors in a market environment, and we show how that model can be used to guide resource allocation and pricing decisions in an autonomous trading  ...  We validate our approach using the Trading Agent Competition for Supply Chain Management [3] (TAC SCM).  ... 
doi:10.1145/1282100.1282185 dblp:conf/ACMicec/KetterCGSG07 fatcat:k5u7ou66wfh4bckrji5e63ude4

Enterprise-wide modeling & optimization—An overview of emerging research challenges and opportunities

V.A. Varma, G.V. Reklaitis, G.E. Blau, J.F. Pekny
2007 Computers and Chemical Engineering  
These themes have included upstream R&D pipeline management, planning and scheduling in batch and continuous manufacturing systems and more recently supply chain optimization under uncertainty.  ...  chain asset creation and marketing contracts which influence decision-making at the activity/process level.  ...  Tactical manufacturing and supply chain decisions include batch plant scheduling in response to forecasted demands, production asset management and selection of energy feedstock in response to market prices  ... 
doi:10.1016/j.compchemeng.2006.11.007 fatcat:wt6253ffgze5jilwoqsf3dkgcq

Transaction Cost Analysis in Marketing: Looking Back, Moving Forward

George John, Torger Reve
2010 Journal of Retailing  
The paper closes with speculation about future trends about transaction cost analysis in marketing.  ...  Contributions to the theory and application of the Williamson's transaction cost framework by scholars in Marketing are reviewed.  ...  The relative importance of pricing distortions versus efficiencies in supply chains is also studied by Chen et al. (2006) .  ... 
doi:10.1016/j.jretai.2010.07.012 fatcat:4qpbc2ginve4th76llnpvxyoi4

Case-Based Reasoning and Multi-Agents for Cost Collaborative Management in Supply Chain

Jianxi Fu, Yuanlue Fu
2012 Procedia Engineering  
This study has two objectives: one is to develop the multi-agents system for CCM; the other is to construct a novel framework model of cost collaborative management in supply chain based on the application  ...  More specifically, this paper develops a new method⎯the four steps for CCM, in order to improve the competitive capacity and to solve some current problems in the cost management of supply chain.  ...  The purpose of this paper is to propose a multi-agent system, which is adaptable to the cost collaborative management in supply chain; and to apply case-based reasoning in MAS-CCM and to propose the method  ... 
doi:10.1016/j.proeng.2012.01.094 fatcat:4hdfmee4vre7xfcx4qif4nqsji

Identifying and predicting economic regimes in supply chains using sales and procurement information

Frederik Hogenboom, Wolfgang Ketter, Jan van Dalen, Uzay Kaymak, John Collins, Alok Gupta
2009 Proceedings of the 11th International Conference on Electronic Commerce - ICEC '09  
In this thesis, the effects of adding procurement information to a sales-based regime model, which is used for predicting price trends in a simulated supply chain, are researched.  ...  The regime model extended in this thesis is used by the MinneTAC agent of the University of Minnesota.  ...  Every company is in a market and is also part of a supply chain, which is, according to Ghiani et al.  ... 
doi:10.1145/1593254.1593258 dblp:conf/ACMicec/HogenboomKDKCG09 fatcat:xrfrux6c55cy7mqtzv72pfau5i

Governance in the energy transition: Practice of transition management in the Netherlands

Derk Loorbach, Rutger Van Der Brugge, Mattijs Taanman
2008 International Journal of Environmental Technology and Management  
In the second part of this paper, these principles are used to reflect upon the way the Dutch Ministry of Economic Affairs is currently applying transition management.  ...  From this perspective, a number of starting points are suggested for energy transition management in order to influence the speed and direction of the energy transition.  ...  regime and the supply side.  ... 
doi:10.1504/ijetm.2008.019039 fatcat:wcffh4j5zjcc7dc7aldr53we4m

Flexible decision support in dynamic inter-organisational networks

John Collins, Wolfgang Ketter, Maria Gini
2010 European Journal of Information Systems  
We have implemented and tested this design in an interactive version of the MinneTAC trading agent, an agent designed for the Trading Agent Competition for Supply Chain Management.  ...  We present an example of an evaluator service network that determines sales prices in a rich, dynamic trading environment.  ...  The economic regime method is able to identify current and predict future market conditions, such as scarcity and over-supply.  ... 
doi:10.1057/ejis.2010.24 fatcat:h7jqznn5pbanngdhvga4rshq3m

Flexible decision control in an autonomous trading agent

John Collins, Wolfgang Ketter, Maria Gini
2009 Electronic Commerce Research and Applications  
The trading agent competition for supply-chain management (TAC SCM) is an annual competition among fully-autonomous trading agents designed by teams around the world.  ...  An agent for TAC SCM is a complex piece of software that must operate in a competitive economic environment.  ...  This approach maintains the uncertainty of the different economic regimes in the market.  ... 
doi:10.1016/j.elerap.2008.09.004 fatcat:ucc4bqa47fbl3nrr7scwpuqu6u

On Patient Safety: COVID-19 Exposes the Dangerous State of Drug and Device Supply Chains

James Rickert
2020 Clinical Orthopaedics and Related Research  
It should be noted that, although the examples are grouped under the three tactics named above, many of these can be used to improve other areas of supply chain management as well.  ...  market, with multiple players at key points of the supply chain.  ...  Should you believe that any content in this report does infringe any rights you may possess, please contact us at info@accesstomedicinefoundation.org or + 31 (0) 20 21 53 535.  ... 
doi:10.1097/corr.0000000000001327 fatcat:jukn7errwbexjofmmjgpk7mh3q

Modern Optimization and Simulation Methods in Managerial and Business Economics: A Review

Laura Calvet, Rocio de la Torre, Anita Goyal, Mage Marmol, Angel A. Juan
2020 Administrative Sciences  
This paper reviews recent works on the use of these methodologies in competitive markets, as well as in imperfect markets considering externalities.  ...  In the current global market, characterized by a fierce competition, an optimal use of the available resources is more important than ever for guaranteeing the economical sustainability of organizations  ...  The aim is to minimize their shared supply chain costs.  ... 
doi:10.3390/admsci10030047 fatcat:ijt23a522bg3df3eg5f4kqjdiq
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