Qianqian Chen: a Deferred Payment Strategy for Risk-averse Supply Chain Based on Cvar
نویسنده
چکیده
The offer of a delayed period for payment from suppliers may help retailers to order more but also improve the total supply chain performance. In this paper, we adopt Conditional Value-at-Risk, CVaR, as the performance criterion to examine how supply chain performance is affected through the deferred payment contract. Analytical results are yielded for the newsvendor retailer’s optimal order quantity and supplier’s optimal wholesale price, based on which sensitivity analysis is conducted. We show that by use of this deferred payment strategy, both the supplier and retailer can be better off. Keywords-risk aversion; deferred payment; conditional value-at-risk; supply chain
منابع مشابه
Stackelberg Game of Buyback Policy in Supply Chain with a Risk-Averse Retailer and a Risk-Averse Supplier Based on CVaR
This paper considers a decentralized supply chain in which a single supplier sells a perishable product to a single retailer facing uncertain demand. We assume that the supplier and the retailer are both risk averse and utilize Conditional Value at Risk (CVaR), a risk measure method which is popularized in financial risk management, to estimate their risk attitude. We establish a buyback policy...
متن کاملSupply Chain Coordination with CVaR Criterion
We study the coordination of supply chains with a risk-neutral supplier and a risk-averse retailer. Different from the downside risk setting, in a conditional value-at-risk (CVaR) framework, we show that the supply chain can be coordinated with the revenue-sharing, buy-back, two-part tariff and quantity flexibility contracts. Furthermore the revenuesharing contracts are still equivalent to the ...
متن کاملRisk measurement in the global supply chain using monte-carlo simulation
Nowadays, logistics and supply chain management (SCM) is critical to compete in the current turbulent markets. In addition, in the global context, there are many uncertainties which affect on the market. One of the most important risks is supplier disruption. The first step to cope with these uncertainties is quantifying them. In this regard many researches have focused on the problem but measu...
متن کاملApplying a CVaR Measure for a Stochastic Competitive Closed-Loop Supply Chain Network under Disruption
This paper addresses a closed-loop supply chain network design problem, in which two different supply chains compete on retail prices by defining a price-dependent demand function. So, the model is formulated in a bi-level stochastic form to demonstrate the Stackelberg competition and associated uncertainties more precisely. Moreover, it is capable of considering random disruptions in the leade...
متن کاملCoordination Contracts in a Dual-Channel Supply Chain with a Risk-Averse Retailer
Dual channels have become popular strategies for manufacturers due to the development of innovative selling platforms. Examples in practice also show that the lack of relationship management, such as cooperation and sharing, may cause an unsustainable supply chain performance. However, previous studies on coordination of dual-channel supply chains always focus on the contribution to profits and...
متن کامل