Portfolio contract Sample Clauses

Portfolio contract. The intention to reduce supplier reliability risk becomes an objective in many researches in supply contract field. The method to reduce the risk is studied in many ways such as multiple suppliers, spot purchase and mixed strategy. The case of multiple suppliers can be studied in X.Xxxxx Xxxxxx et al 2009. They simulate the two supplier case for their supply contract. They analyzes the supply contract which contains option, buy back and wholesale price and also introduces a model to calculate the option premium and concludes that it is sure that the benefit from supply contract is better than none contract. They consider 2 cases (i) Multiple suppliers and (ii) One supplier with one retailer for both. They describe the sequence as a two- stage decision making. The retailer first decides how much to order accord to the expected demand from the past information (period t-1). After that the retailer will decide how much to order from each supplier (Depends on unit available). Then receive units. And finally realizes the actual demand. After option introduced, they will have accurate demand from sharing information and then order the quantity from that demand. Also, they have divided the case into single supplier and multiple suppliers. From the simulation, it is sure that the benefit of them can be both increased by option contract. The option contract will also force the retailer and supplier to share the demand information in order to negotiate a conversion rate. Xx Xx et al also study about the supply options and their risk. They study about single period procurement which has a set of contingent options and spot market. The contingent option is a right to buy a product at discount rate of market price for buyer. The buyer also has to pay a unit reservation price for that right. The spot market is a market that we can buy the items with no lead time required. Their problem is a single period. The demand and the spot price are random. The spot price can be arbitrarily correlated with the demand. They consider 2 objectives. 1. Risk neutral (Risk-taking) 2.Risk averse (CVaR). The problem for risk neutral is clear but the risk averse is not easy to get since there are multiple decision variables, random demand and spot price. So they work on finding tractable approximation for the objective function. They describe decision making into two stages like X.Xxxxx Xxxxxx et al 2009. For the risk- neutral objective, they provide a set of optimality conditions and solv...
Sample 1
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