کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
481432 | 1446141 | 2009 | 18 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Selection of contract suppliers under price and demand uncertainty in a dynamic market Selection of contract suppliers under price and demand uncertainty in a dynamic market](/preview/png/481432.png)
In this paper, we consider a supply contracting problem in which the buyer firm faces non-stationary stochastic price and demand. First, we derive analytical results to compare two pure strategies: (i) periodically purchasing from the spot market; and (ii) signing a long-term contract with a single supplier. The results from the pure strategies show that the selection of suppliers can be complicated by many parameters, and is particularly affected by price uncertainty. We then develop a stochastic dynamic programming model to incorporate mixed strategies, purchasing commitments and contract cancellations. Computational results show that increases in price (demand) uncertainty favor long-term (short-term) suppliers. By examining the two-way interactions of contract factors (price, demand, purchasing bounds, learning and technology effect, salvage values and contract cancellation), both intuitive and non-intuitive managerial insights in outsourcing strategies are derived.
Journal: European Journal of Operational Research - Volume 198, Issue 3, 1 November 2009, Pages 830–847