Tradeoffs and Random Yield in Supply Chain Management PDF Download
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Author: Yuanjie He
Publisher:
ISBN:
Category :
Languages : en
Pages : 131
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Book Description
Author: Yuanjie He
Publisher:
ISBN:
Category :
Languages : en
Pages : 131
Get Book Here
Book Description
Author: Yuanjie He
Publisher:
ISBN:
Category :
Languages : en
Pages : 131
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Book Description
Author: Marcus Dettenbach
Publisher: Logos Verlag Berlin GmbH
ISBN: 3832539905
Category : Business & Economics
Languages : en
Pages : 148
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Book Description
This book focuses on supply chains with uncertainty due to random yields. A common assumption in such systems is that the yields are observable only after all transportation or production steps are completed. The actual yield realization however happens earlier during the process. Technological advances and stronger supply chain collaboration make it possible to observe yield realization in real time and therefore close the time gap between the event and the observation. Within this thesis optimal and heuristic policies are developed that make use of this new type of information in various supply chain settings. These policies are used to identify conditions under which real time yield information is particularly beneficial. This book is relevant to both scholars and practitioners interested in managing supply chains with random yields.
Author: Panos Kouvelis
Publisher: John Wiley & Sons
ISBN: 1118115791
Category : Business & Economics
Languages : en
Pages : 497
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Book Description
A comprehensive, one-stop reference for cutting-edge research in integrated risk management, modern applications, and best practices In the field of business, the ever-growing dependency on global supply chains has created new challenges that traditional risk management must be equipped to handle. Handbook of Integrated Risk Management in Global Supply Chains uses a multi-disciplinary approach to present an effective way to manage complex, diverse, and interconnected global supply chain risks. Contributions from leading academics and researchers provide an action-based framework that captures real issues, implementation challenges, and concepts emerging from industry studies.The handbook is divided into five parts: Foundations and Overview introduces risk management and discusses the impact of supply chain disruptions on corporate performance Integrated Risk Management: Operations and Finance Interface explores the joint use of operational and financial hedging of commodity price uncertainties Supply Chain Finance discusses financing alternatives and the role of financial services in procurement contracts; inventory management and capital structure; and bank financing of inventories Operational Risk Management Strategies outlines supply risks and challenges in decentralized supply chains, such as competition and misalignment of incentives between buyers and suppliers Industrial Applications presents examples and case studies that showcase the discussed methodologies Each topic's presentation includes an introduction, key theories, formulas, and applications. Discussions conclude with a summary of the main concepts, a real-world example, and professional insights into common challenges and best practices. Handbook of Integrated Risk Management in Global Supply Chains is an essential reference for academics and practitioners in the areas of supply chain management, global logistics, management science, and industrial engineering who gather, analyze, and draw results from data. The handbook is also a suitable supplement for operations research, risk management, and financial engineering courses at the upper-undergraduate and graduate levels.
Author: Management Association, Information Resources
Publisher: IGI Global
ISBN: 1522539107
Category : Business & Economics
Languages : en
Pages : 1812
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Book Description
Organizations of all types are consistently working on new initiatives, product lines, and workflows as a way to remain competitive in the modern business environment. No matter the type of project at hand, employing the best methods for effective execution and timely completion of the task is essential to business success. Operations and Service Management: Concepts, Methodologies, Tools, and Applications is a comprehensive reference source for the latest research on business operations and production processes. It examines the need for a customer focus and highlights a range of pertinent topics such as financial performance measures, human resource development, and business analytics, this multi-volume book is ideally designed for managers, professionals, students, researchers, and academics interested in operations and service management.
Author: Guang Xiao
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 178
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Book Description
The main purpose of this dissertation is to focus on designing and evaluating operational strategies to effectively mitigate both the production yield and the commodity price risks, which are among the primary challenges firms need to battle against in today's global economy.In the first chapter, we investigate the fundamental question about how to allocate supply risk within a bilateral supply chain. More specifically, we consider a supplier-retailer supply chain with supply random yield and deterministic demand. We study the impact of three commonly used implementations of single wholesale price contracts on allocating supply yield risk between supply chain parties and on channel performance. In a push contract, the retailer controls the production decision and bears all the risk; in a pull contract, the supplier controls the production decision and bears all the risk; and in a hybrid contract, the retailer decides the order quantity whereas the supplier decides the production quantity. We completely characterize the firms' optimal decisions and contract preferences under both exogenous and endogenous wholesale prices. Our analysis shows that all the hybrid contracts are Pareto efficient within its own type, survive the challenges from both push and pull contracts, and maintain high channel efficiency, i.e., around 96% ~ 97% on average based on our numerical and worst case analysis. We then argue that the good performance of the hybrid contracts is not primarily due to the common wisdom of risk sharing, but lies in its unique structure property. More specifically, the hybrid contract implementation utilizes production inflation as an instrument to effectively combine all the Pareto efficient push and pull segments within their joint Pareto set into a single contract type. Consequently, when negotiating among wholesale price contracts, firms only need to restrict their negotiation within the hybrid contract type alone, which is simple, easy to implement, and efficient.In the second chapter, we examine the interplay between supply diversification and price postponement as risk mitigation tools for a price-setting monopoly firm to deal with supply yield risk. We compare the optimal sourcing decisions under both ex ante pricing and responsive pricing (ex post) schemes and investigate the impact of pricing timing on the firm's optimal sourcing and diversification decisions. For the case of one unreliable supplier, we show that responsive pricing mitigates the overage and underage risks imposed by yield uncertainty, and results in a lower [higher] optimal order quantity than that under ex ante pricing when the procurement cost is low [high]. For the case of one unreliable and one reliable suppliers, we find that an ex ante pricing firm finds no value in supply diversification, but responsive pricing gives rise to the need for supply diversification. For the case of two unreliable suppliers, we prove that responsive pricing promotes [discourages] supply diversification when supply reliability is low [high]. When supply reliability is moderate, responsive pricing promotes [discourages] supply diversification when the unit procurement cost is low [high]. Finally, we demonstrate that when facing strongly positively correlated yields, the firm ranks reliability higher than cost in supplier selection, and it may skip the cheaper supplier to select the expensive supplier if the latter is more reliable.In the third chapter, we propose two technical assumptions to ensure the unimodality of the objective function in two classes of price and quantity decision problems with one procurement opportunity under supply random yield and deterministic demand in a price-setting environment. We provide appealing economic interpretations and easy-to-verify sufficient conditions for our proposed technical assumptions. We show that most commonly used continuous yield distributions satisfy both of our technical assumptions. Finally, we provide several examples to show that our technical Assumption 1 applies to a large class of random yield problems involving a single firm's price and quantity decisions under different contracts, payment schemes and supplier portfolios, and that our technical Assumption 2 applies to a large class of random yield problems involving a decentralized supply chain/assembly system under different configurations.In the fourth chapter, we study two symmetric firms' production lead time (long vs. short) and selling timing (forward vs. spot) choices in a competitive market with uncertain input commodity cost. We consider Cournot competition and model the cost uncertainty via a two-point distribution. Our results are summarized as follow: First, regarding to the production lead time choice, as the cost volatility or the ex ante cost increases, both firms simultaneously switch from long lead time to short lead time to enjoy the benefit of being responsive in reacting to the procurement cost risk. Second, regarding to the selling timing choice, when the ex ante cost is low, both firms choose sell forward with appropriated hedging strategy adopted to avoid default. When the ex ante cost is high, both firms choose sell forward but strategically default on the high cost realization. In contrast, when the ex ante cost is in an intermediate range, both firms choose to sell spot when the high cost state is more likely to occur. Interesting, when the low cost state is more likely to occur, both firms choose to sell forward with one hedges and the other strategically defaults on high cost state. Finally, when both production lead time and selling timing choices are available, choosing long lead time and carrying inventory without selling forward is always a weakly dominated strategy. Consequently, the market equilibrium structure remains the same as that under the case when only the selling timing choice is available.
Author: Kai Hoberg
Publisher:
ISBN: 9783832511418
Category : Business logistics
Languages : en
Pages : 0
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Book Description
Research on supply chain management has received much attention in recent years. A supply chain is the network of all parties involved in fulfilling a customer request, that is, from the acquisition of raw materials, over the production of finished goods to their distribution to the customers. Supply chains are governed by inventory policies, which are key drivers of supply chain performance. In this book, Kai Hoberg applies linear control theory to study various inventory policies and to analyze the supply chain performance. Linear control theory originates in the engineering field anduses transfer functions to model the system in question. However, using the appropriate assumptions, it can be applied to model supply chains. In this research, the effect of the inventory policy on the fundamental performance of the supply chain is analyzed. The fundamental performance relates to the key performance drivers in the supply chain: variability and responsiveness. High variability causes companies to hold excess capacity, use overtime production, and motivates high safety stocks. Poor responsiveness hinders a supply chain to track customer demand and it will suffer from lost sales, unsatisfied customers, and increased competition. In this research, various properties of the different inventory policies are demonstrated. While the book is mathematically rigorous, the author focuses on important managerial insights gained from the analysis. He particular emphasizes the necessity of trade-offs and shows how to move the trade-offcurves by applying a particular inventory policy.
Author: Jian Li
Publisher: Springer Science & Business Media
ISBN: 1461405114
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
Risk management has become an essential issue in supply chain management, from the modeling of the decision maker's risk preference, and the studies on uncertain elements such as demand, supply, price, lead time, etc., to the consideration of more practical background including cash flow constraints, inventory financing and delayed cash payment. In this new volume, the authors provide a framework to study the interaction of various factors related to risk and their influence on supply chain management. The scope of areas covered includes operations management, decision analysis, and business administration. This book focuses on several key issues of risk management in supply chains. Specifically, an analysis framework is presented for studying the supplier selection problem and identifying the optimal sourcing strategy in a one-retailer two-suppliers supply chain with random yields. The optimal sourcing strategy of a retailer and the pricing strategies of two suppliers under an environment of supply disruption are investigated. Besides, the authors study the dynamic inventory control problems with cash flow constraints, financing decisions as well as delayed cash payment. In addition, originating from the annual international iron ore price negotiation, the authors model the bargaining process to deal with the risk of wholesale price in the game analysis context. Within the three perspectives of risk management in supply chains, the modeling of decision maker's risk preference has been extensively studied and many results have been obtained to guide the practice. However, the analysis on the other two kinds of topics is still in its infancy, and needs more efforts from academia. It is thus the ambition and innovation for this book to contribute on risk management in supply chains in the following ways: (1) characterizing the explicit sourcing strategy (i.e., single sourcing or dual sourcing) to deal with supply disruption risk; (2) introducing the concepts of financial risk measurement by incorporating cash flow constraints, inventory financing and delayed cash payment into inventory management models; and (3) providing insights for the iron ore price negotiation to help steel manufacturers handle the risk of price increase.
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 1006
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Book Description
Author: J. George Shanthikumar
Publisher: Springer Science & Business Media
ISBN: 1461503736
Category : Business & Economics
Languages : en
Pages : 413
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Book Description
This volume originates from two workshops, both focusing on themes that are reflected in the title of the volume. The first workshop took place at Eindhoven University of Technology, April 24-26, 2001, on the occasion of the University granting a doctorate honoris causa to Profes sor John A. Buzacott. The second workshop was held on June 15, 2002 at Cornell University (preceding the annual INFORMSjMSOM Confer ence), honoring John's retirement and his lifetime contributions. Each of the two workshops consisted of about a dozen technical presentations. The objective of the volume, however, is not to simply publish the proceedings of the two workshops. Rather, our objective is to put to gether a select set of articles, each organized into a well-written chapter, focusing on a timely topic. Collected into a single volume, these chapters aim to serve as a useful reference for researchers and practitioners alike, and also as reading materials for graduate courses or seminars.
