Vulnerable options in supply chains: Effects of supplier competition

被引:65
作者
Babich, Volodymyr [1 ]
机构
[1] Univ Michigan, Dept Ind & Operat Engn, Ann Arbor, MI 48109 USA
关键词
resilient supply chains; supply risk; supply disruptions; competition; deferment option; multi-sourcing; back-up supplier; default correlation;
D O I
10.1002/nav.20181
中图分类号
C93 [管理学]; O22 [运筹学];
学科分类号
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要
Concerned with the risk of supplier default, a firm may choose to diversify its orders among multiple suppliers. Furthermore, the discrepancy in production lead-times among suppliers furnishes a firm with a valuable option to defer ordering decisions until uncertainty has been partially resolved. The suppliers also have an option: to defer their pricing decisions. Using a single-period, multi-stage model of a two-echelon supply chain with competing risky suppliers and a single manufacturer, this paper investigates how the supplier default risk and default co-dependence affect manufacturer procurement and production decisions, supplier pricing decisions, firms profits, and the deferment option value and how the introduction of the deferment option alters supplier competition. (C) 2006 Wiley Periodicals, Inc.
引用
收藏
页码:656 / 673
页数:18
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