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

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Scopus citations

Abstract

We investigate the effects of adding procurement information (component offer prices) to a sales-based economic regime model, which is used for strategic, tactical, and operational decision making in dynamic supply chains. The performance of the regime model is evaluated through experiments with the MinneTAC trading agent, which competes in the TAC SCM game. We find that the new regime model has a similar overall predictive performance as the existing model. Regime switches are predicted more accurately, whereas the prediction accuracy of dominant regimes is slightly worse. However, by adding procurement information, we have enriched the model and we have further opportunities for applications in the procurement market, such as procurement reserve pricing.

Original languageEnglish (US)
Title of host publicationProceedings of the 11th International Conference on Electronic Commerce, ICEC 2009
Pages19-28
Number of pages10
DOIs
StatePublished - Nov 30 2009
Event11th International Conference on Electronic Commerce, ICEC 2009 - Taipei, Taiwan, Province of China
Duration: Aug 12 2009Aug 15 2009

Publication series

NameACM International Conference Proceeding Series

Other

Other11th International Conference on Electronic Commerce, ICEC 2009
CountryTaiwan, Province of China
CityTaipei
Period8/12/098/15/09

Keywords

  • Economic regimes
  • Machine learning
  • Supply chain management
  • TAC SCM
  • Trading agent

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