Chapter
Jun 29, 2016
Supply Contract with Bidirectional Options to Improve the Performance of a Decentralized System
Publication: CICTP 2016
Abstract
To improve the performance of the traditional decentralized supply chain with one buyer and one supplier, this paper studies the supply contracts with bidirectional options which allow the buyer to adjust the initial order both upward and downward. We analyzed the contracts from both parties’ perspective and derived a closed-form formula of the buyer’s optimal decision. To obtain the supplier’s optimal decision, a numerical study is provided. In the numerical study, we also calculated the profit of the buyer, supplier and supply chain, respectively. By the numerical results, we derived that using options can improve all of their profit compared the traditional supply chain.
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Information
Published In
CICTP 2016
Pages: 433 - 445
Copyright
© 2016 American Society of Civil Engineers.
History
Published online: Jun 29, 2016
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Master, School of Transportation and Logistics, Southwest Jiaotong Univ., Chengdu 610031. E-mail: [email protected]
Master, School of Transportation and Logistics, Southwest Jiaotong Univ., Chengdu 610031. E-mail: [email protected]
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