Nosoohi I, Mollaverdi N. Modeling of Capacity Reservation and Supplier Selection Based on Option Contract. IJIEPR 2011; 22 (2) :135-141 URL: http://ijiepr.iust.ac.ir/article-1-292-fa.html
Modeling of Capacity Reservation and Supplier Selection Based on Option Contract. نشریه بین المللی مهندسی صنایع و تحقیقات تولید. 1390; 22 (2) :135-141
A key issue for manufacturing firms is planning for outsourced components. In this research, we have considered a manufacturer in a Make-to-Order production environment who has to outsource a special component from a set of suppliers. One selling season is considered and the manufacturer faces uncertain demand during the selling season. A good strategy for the manufacturer to balance both holding and lost sale costs is to initiate capacity reservation contracts with his suppliers. Thus, unlike the previous researches we have presented a mathematical model based on option mechanism that will help the manufacturer to select appropriate suppliers and order allocation, simultaneously. The considered option mechanism has a two part contract fee structure (option price and exercise price) and it is at the foundation of practical contracts used by different industries. A numerical example is used to illustrate the model and to investigate how option mechanism improves manufacturer's expected profit in comparison with the situation without applying the option mechanism .
نوع مطالعه: پژوهشي |
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و موضوعات مربوط دریافت: 1390/4/28 | انتشار: 1390/3/25