Title: Newsvendor supply chain model with Trade Credit Policy
Speaker: Dr. Vandana Rai, Visiting Scientist, SQC & OR Unit, Indian Statistical Institute Kolkata, West Bengal
Day, Date, and Time: Wednesday, 27th January 2021, 3 PM to 4 PM.
Abstract of the talk:
The newsvendor model is a mathematical model in operations management and applied economics used to determine optimal inventory levels. It is characterized by fixed prices and uncertain demand for a perishable product. The newsvendor problem is widely used in supply chain management. In this talk, the game-theoretic approach to the newsvendor model will be discussed. In the sequel, the impact of trade credit policy with credit risk between the supply chain entities will be explained.
About the Speaker:
Dr. Vandana Raiis a Visiting Scientist (since 11/02/2020) in SQC & OR Unit, Indian Statistical Institute Kolkata, West Bengal. She has been an Institute Post-Doctoral Fellow (Feb 2017 – Feb 2020) at the Department of Management Studies, Indian Institute of Technology, Madras. She had her Ph.D. from the School of Studies in Mathematics, Pt. Ravishankar Shukla University, Raipur, Chhattisgarh. Her thesis title is "A Study of Dynamic Inventory Models involving the Economic Ordering of Commodity". She has research and publishing excellence that includes publications in SCI/SCIE, Scopus, ESCI/Web of Science, and ABDC listed Journals. She holds a meritorious award/Gold Medal for securing the FIRST RANK in MSC Mathematics among all the 129 colleges affiliated to the Pt. Ravishankar Shukla University Raipur, Chhattisgarh. She has been a regular participant at various professional development seminars, conferences, workshops, short term training programs, and faculty development programs to remain abreast of new technologies, innovative delivery methods, and statistical techniques and tools.