Transforming Hong Kong's warehousing industry with a novel business model: A game-theory analysis |
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| Affiliation: | 1. School of Computer Science and Technology, Beijing Institute of Technology, Beijing, PR China;2. School of Economics and Management, University of Chinese Academy of Sciences, Beijing, PR China;3. State Key Laboratory of Complex Product Intelligent Manufacturing System Technology, Beijing Institute of Electronic System Engineering, Beijing, PR China;4. Department of Production Engineering, KTH Royal Institute of Technology, Sweden;5. Department of Industrial Engineering & Management, Shanghai Jiao Tong University, Shanghai, PR China;6. Department of Industrial and Manufacturing Systems Engineering, University of Hong Kong, HK, PR China;1. Guangdong Provincial Key Laboratory of Computer Integrated Manufacturing Systems, School of Electromechanical Engineering, Guangdong University of Technology, Guangzhou, Guangdong, China;2. Department of Mechanical and Energy Engineering, Southern University of Science and Technology, Shenzhen, Guangdong, China;3. HKU-ZIRI Lab for Physical Internet, Department of Industrial and Manufacturing Systems Engineering, University of Hong Kong, Hong Kong, China;4. Faculty of Information Technology, Macau University of Science and Technology, Macao, China;5. H. Milton Stewart School of Industrial and Systems Engineering, Georgia Institute of Technology, Atlanta, USA;1. College of Economics and Management, Nanjing University of Aeronautics and Astronautics, 29 Jiangjun Avenue, Nanjing 211106, China;2. HKU-ZIRI Lab for Physical Internet, Department of Industrial and Manufacturing Systems Engineering, The University of Hong Kong, Pokfulam Road, Hong Kong;3. Performance Analysis Center of Production and Operations Systems (PacPos), Northwestern Polytechnical University, Xi''an 710072, China;4. Key Laboratory of Contemporary Design and Integrated Manufacturing Technology, Ministry of Education, Northwestern Polytechnical University, Xi''an 710072, China |
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| Abstract: | The booming e-commerce and intense regional competition are pushing the transformation of Hong Kong's warehousing industry towards more automated and efficient. However, this falls into a dilemma when stakeholders do not have enough technical and operational capability (to use advanced facility and systems) or strong motivation (due to high investment and risk). To resolve this, we first propose a new business model in which a third party - the warehousing equipment supplier (WES) is introduced to the current business between the warehouse owner (WO) and the user. The WO and WES own different advantages, complement each other and have the potential to “make the pie bigger” and promote the transformation. Then we utilize cooperative game-theory approaches (the Cournot game and the Shapley value) to explore the possible equilibrium in the new business model on profit distribution, the essential conditions for this new model to succeed and what factors that determine and affect the efficiency of the game. The experiments using the real data set show that market demand and its sensitivity to service quality, service price, price elasticity, etc. can exert impacts on the cooperative surplus and lead to the feasibility/infeasibility of the business model. |
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