Department of Management

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Start date: 2010Subject: search.filters.subject.Innovation diffusion

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Now showing 1 - 10 of 10
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    Stage wise Innovation Diffusion with a Dynamic Market
    (Bloomsbury India, 2016) Chanda, Udayan
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    Determining adoption pattern with pricing using two-dimensional innovation diffusion model
    (Elsevier, 2010) Chanda, Udayan
    Studying the dynamics of the technology diffusions under the key determinants that influence the adoption of a technology across time and/or space into the market is crucial to assess the business case for new technologies. The topic diffusion has been widely studied by researchers from different disciplines, including Sociology, Economics, Psychology and Marketing. However a substantial amount of research has been focused on one dimension: either to examine the individual's adoption of an innovation or to explain the time path of adoption of technologies typically follows an S-shaped curve. The other dimensions of the diffusion of an innovation, has gained less attention. In this paper, we derive a two-dimensional technology diffusion innovation model which combines the adoption time of technological diffusion and price of the technology product. In the proposed model technological adoptions and the role of other dimensions are explicitly taken into consideration by using the classical Cobb–Douglas production function. The model is based on two main assumptions: the rate of adoption growth decreases in price and that there is diminishing returns to time because initial market size is fixed. The proposed model is also validated on a number of datasets and compared with established models. The empirical analysis shows that the model performs better than other one-dimensional diffusion model in terms of parameter estimation and model validity.
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    Economic order quantity model on inflationary conditions with demand influenced by innovation diffusion criterion
    (Inder Science, 2012) Chanda, Udayan
    In this paper, an inventory model has been proposed based on the explicit assumptions of interaction of marketing parameters to the optimal inventory replenishment policy. This study applies the discounted cash flow (DCF) approach for the analysis of the replenishment problem over a finite planning horizon. The demand rate is a function of time and is assumed to be driven by innovation diffusion process. In addition, a numerical example is performed justifying the need of incorporating the effect of innovation along with the effect of inflation on the optimal inventory replenishment. Sensitivity analysis is also performed to discuss the effectiveness of the proposed framework.
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    Economic order quantity model under fuzzy sense with demand follows Bass’s innovation diffusion process
    (Inder Science, 2013-08) Chanda, Udayan
    The economic order quantity (EOQ) model is usually not paid attention to make the model more realistic. The realistic EOQ model can bring a significant change while evaluating the profit and loss of any organisation. In this paper a mathematical model has been developed for obtaining the EOQ in which the demand of the product is assumed to follow an innovative imitative behaviour as proposed by Bass (1969). The theory of innovation-diffusion has been incorporated in this model. To make the model more realistic an attempt has been made to solve the model in light of fuzzy set theory under the trapezoidal membership function. The coefficient of innovation, the coefficient of imitation and the inventory carrying cost is assumed to be fuzzy numbers with trapezoidal membership function. By the median rule of defuzzification, total cost formula has been derived in the fuzzy sense in order to obtain the optimal order quantity. The effectiveness of this model is illustrated with a numerical example and sensitivity analysis of the optimal solution with respect to different parameters of the system is performed.
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    Economic order quantity model for new product under fuzzy environment where demand follows innovation diffusion process with salvage value
    (Inder Science, 2016-05) Chanda, Udayan
    Diffusion pattern of new products have been well-documented in literature but research on integration of growth model and inventory policies are still scarce. Globalisation and technological breakthroughs' are creating significant risks of obsolescence at the product level. This calls for integration of diffusion dynamics in formulation of economic ordering policies for technology products. Unfortunately, most of the diffusion models available in literature do not recognise uncertainty in diffusion parameters, making it difficult to use in inventory-models. Here, we propose an economic order quantity model using fuzzy logic for new product where demand rate follows innovation diffusion process. Effect of deterioration is incorporated by considering the salvage value in the cost component. The comprehensive sensitivity analysis with respect to different parameters has also been performed to illustrate the effectiveness and behaviour of the model.
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    Optimisation of fuzzy EOQ model for advertising and price sensitive demand model under dynamic ceiling on potential adoption
    (Taylor & Francis, 2016-02) Chanda, Udayan
    Marketing strategies such as advertising and pricing can play an important role in the acceptance of technology products by consumers. This phenomenon indicates that diffusion of technology products in the society may have strong linkages with unit selling price and advertisement effort. Therefore, management should sincerely reflect on pricing and advertising strategy during formulation of the inventory policies. This paper aims to develop an economic order quantity model for finding strategy for a firm that sells technology products' over a finite planning horizon. Demand is considered to follow a lifecycle phenomenon with dynamic ceiling on the potential adoptions and sensitive to advertising expenditure and unit selling price. The fuzzy criterion has also been incorporated to address the problems of uncertain nature of marketing parameters. The model is illustrated with a numerical example and a comprehensive sensitivity analysis of the optimal solution with respect to different parameters has also been performed.
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    Fuzzy EOQ model of a high technology product under trial-repeat purchase demand criterion
    (Taylor & Francis, 2017-11) Chanda, Udayan
    Accurate prediction and knowledge of adoption pattern is critical to formulate inventory strategies for any technology product. Prior researches in this area recommended that aggregate level demand models often forecast imprecise sales figure. We argue that it is essential to recognize the technology specific adoption dynamics prior to formulate the inventory strategies. This paper aims to develop an Economic Order Quantity (EOQ) model to find strategy for a firm that sells technology products’ over a defined planning horizon. Demand is considered to follow trial-repeat purchase phenomenon. The fuzzy criterion is incorporated to address the problems of uncertain nature of marketing parameters. The model is illustrated with a numerical example and a comprehensive sensitivity analysis on the optimal solution with respect to different parameters has also been performed.
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    Two-warehouse inventory model for deteriorating items with demand influenced by innovation criterion in growing technology market
    (Taylor & Francis, 2018-04) Chanda, Udayan
    One of the major concerns for the technology market is the demand volatility and its impact on inventory policies. Demand volatility in the technology sector may arise due to many factors namely customer choices, competition, growing market size, and so on. Often companies use rented warehouses to absorb any fluctuations in demand. Unfortunately, warehouse and inventory researches ignore the phenomenon of growing market size to formulate policy decisions. In this paper, we proposed a two-warehouse inventory model with deterioration for technology products with linearly increasing market size where demand follows innovation diffusion criterion. The model is based on the assumption that the holding costs in the rented warehouse are more than the own warehouse. A simple solution procedure also discussed to solve nonlinear cost function. Numerical example and sensitivity analysis are also used to describe the utility of the model.
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    Economic order quantity model for two generation consecutive technology products under permissible delay in payments
    (IDEAS is a RePEc, 2021) Chanda, Udayan; Nagpal, Gaurav
    In this article, we discussed optimal replenishment policies for two succeeding generations' technology products under partial trade credit financing. It is often seen that in technology market, advanced generation product plays an important role in cannibalising the market of existing generation product. Thus, precise estimation of demand of technology generations' product is critical for taking any policy decisions. Demand estimation of technology products is a complex process, as the consumer buying behaviour of technology generational products is not only depends on marketing mix variables but also associated with the time-to-market phenomenon of new technologies. In technology market, interaction among users of different generational products controls the rate of substitution of older technology products with the new one. Therefore, due to the substitution nature of demand of multi-generation product, it is important to incorporate the interaction-substitution effect in replenishment policies for this kind of products. We used life cycle dynamics to project demand rates of technology generations. In this paper, we formulate the total cost function for five different situations depending upon the new generation introduction timing and length of the trade credit period. A detail sensitivity analysis is been performed to explore the efficacy of the model in a given situation.
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    Optimal inventory policies for short life cycle successive generations’ technology products
    (Taylor & Francis, 2021-03) Chanda, Udayan; Nagpal, Gaurav
    In this paper, a new Economic Order Quantity (EOQ) model for a successive generation of technology products has been discussed. The classical EOQ model is based on the assumption that the demand rate is constant. Hence it cannot be used for technology products where competition-substitution among products is a usual phenomenon. To address this problem, the EOQ model proposed in this article is considered a demand model for a technology product that follows the innovation-diffusion process. A numerical example has been illustrated and a comprehensive sensitivity analysis is conducted to understand the path of the optimal planning horizon and optimal costs under varied innovation and imitation effect. The sensitivity analysis of the introduction timing of the second generation has been performed to know the applicability of the model in actual circumstances. The behavior of the model has been discussed in detail in the numerical illustration section.