Sourcing Flexibility, Spot Trading, and Procurement Contract Structure
نویسندگان
چکیده
منابع مشابه
Sourcing Flexibility, Spot Trading, and Procurement Contract Structure
We analyze the structure and pricing of option contracts for an industrial good in the presence of spot trading. We combine the analysis of spot trading and buyers’ disparate private valuations for different suppliers’ products, and jointly endogenize the determination of three major dimensions in contract design: (i) sales contracts versus options contracts; (ii) flat-price versus volume-depen...
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This contribution focuses on the cost-effective management of the combined use of two procurement options: the short-term option is given by a spot market with random price, whereas the long-term alternative is characterized by a multi period capacity reservation contract with fixed purchase price and reservation level. A reservation cost, proportional with the reservation level, has to be paid...
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In this paper we look at how labor market conditions at di erent points during the tenure of individuals with rms are correlated with current earnings Using data on individuals from the German Socioeconomic Panel for the period to we nd that both the contemporaneous unemployment rate and prior values of the unemployment rate are signi cantly correlated with current earnings contrary to results ...
متن کاملOptimal Dynamic Contract for Electricity Procurement∗
Bilateral procurement contracts in the electricity industry use fixed unit prices to settle payments and deliveries. This type of purchasing arrangement creates perverse production incentives and ignores dynamic uncertainties that are inherent in electricity markets. We consider a continuous-time contracting environment, in which the electricity price is modeled as a mean reversion jump diffusi...
متن کاملCapacity reservation under spot market price uncertainty
Capacity reservation contracts and spot markets are two alternative purchasing practices. We focus on the cost-effective management of the combined use of these two procurement sources. Due to the variability of the spot market prices and demand uncertainty, the flexibility of combined sourcing can be advantageous. Spot market purchasing is a benefit in case of low spot market prices or insuffi...
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ژورنال
عنوان ژورنال: Operations Research
سال: 2011
ISSN: 0030-364X,1526-5463
DOI: 10.1287/opre.1100.0905