Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/16592
Title: Competition and evolution in multi-product supply chains : an agent-based retailer model
Authors: He, Z
Wang, S
Cheng, TCE 
Keywords: Agent-based modelling
Competition
Complex adaptive system
Retailer
Supply chain
Issue Date: 2013
Publisher: Elsevier
Source: International journal of production economics, 2013, v. 146, no. 1, p. 325-336 How to cite?
Journal: International journal of production economics 
Abstract: Facing such issues as demand uncertainty and in- and cross-channel competition, managers of today's retail chains are keen to find optimal strategies that help their firms to adapt to the increasingly competitive business environment. To help retail managers to address their challenges, we propose in this paper an agent-based retail model (ARM), grounded in complex adaptive systems, which comprises three types of agents, namely suppliers, retailers, and consumers. We derive the agents' optimal behaviours in response to competition by evaluating the evolutionary behaviour of the ARM using optimisation methods and genetic algorithm. We find that consumers' ability to collect pricing information has a significant effect on the degree of competition in retail chains. In addition, we find that the everyday low price (EDLP) strategy emerges from the evolutionary behaviour of the ARM as the dominant pricing strategy in multi-product retail chains.
URI: http://hdl.handle.net/10397/16592
ISSN: 0925-5273
DOI: 10.1016/j.ijpe.2013.07.019
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