mean-variance analysis of retailers deploying rfid-enabled smart shelves

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ID: 140113
2018
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Abstract
Radio frequency identification (RFID)-enabled smart shelves have recently attracted enormous attention from both industry and academia. Retailers have an explosion of interest in deploying smart shelves for the automatic ordering and the reduction of inventory inaccuracy. This study explores the retailers’ optimal policy for investing in a smart shelf inventory control system. Since the decision maker’s risk attitude plays an important role in its investment in technology, we therefore specifically consider the retailers’ risk attitude. The risk attitude is measured by the mean-variance analysis. We derive analytical expressions for the benefit of the smart shelf and specify the conditions under which retailers should invest in it. We also show the explicit relationship between the retailer’s risk attitude and his optimal policy. Finally, we conduct a numerical analysis to provide managerial insights for retailers to invest in smart shelves.
Reference Key
zhu2018informationmean-variance Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors ;Lijing Zhu;Peize Wang;Sha Xi
Journal psychoanalytic review
Year 2018
DOI
10.3390/info9020040
URL
http://www.mdpi.com/2078-2489/9/2/40
Keywords
RFID supply chain managementinformation technology

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