Optimal Procurement When Both Price And Quality Matteri
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Optimal Procurement When Both Price And Quality Matteri
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Author : John Asker
language : en
Publisher:
Release Date : 2005
Optimal Procurement When Both Price And Quality Matteri written by John Asker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Optimal Procurement When Both Price And Quality Matter
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Author : John Asker
language : en
Publisher:
Release Date : 2005
Optimal Procurement When Both Price And Quality Matter written by John Asker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Industrial procurement categories.
Procurement When Price And Quality Matter
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Author : John Asker
language : en
Publisher:
Release Date : 2007
Procurement When Price And Quality Matter written by John Asker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Industrial procurement categories.
Optimal Procurement With Quality Concerns
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Author : Giuseppe Lopomo
language : en
Publisher:
Release Date : 2022
Optimal Procurement With Quality Concerns written by Giuseppe Lopomo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
Adverse selection in procurement arises when low-cost bidders are also lowquality suppliers. We propose a mechanism called LoLA which, under some conditions, is the best incentive-compatible mechanism for maximizing either the seller's or the social surplus in the presence of adverse selection. The LoLA features a floor (or minimum) price, and a reserve (or maximum) price. Conveniently, the LoLA has a dominant strategy equilibrium that, under mild regularity conditions, is unique. We perform a counterfactual experiment on Italian government procurement auctions: we compute the gain that the government could have made, had it used the optimal mechanism (which happens to be a LoLA), relative to a first-price auction, which is the format the government actually used. Finally, we provide software applications for computing the optimal procurement mechanism.
When To Lock The Price The Optimal Procurement Policy Under Input Price Volatility
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Author : Shi Chen
language : en
Publisher:
Release Date : 2020
When To Lock The Price The Optimal Procurement Policy Under Input Price Volatility written by Shi Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
We study a two-stage supply chain, where the supplier procures a key component to manufacture a product and the retailer orders from the supplier to meet a price-sensitive demand. As the input price is volatile, the two parties enter into either a spot contract, where the retailer orders just before the supplier starts production, or a forward contract, where the retailer determines when to lock a wholesale price. Moreover, we consider three selling-price schemes: Market-Driven, Cost-Plus, and Profit-Max, corresponding to the retailer's minimal, moderate, and maximal pricing power, respectively. We assume that the input price follows a Geometric Brownian motion. To determine the optimal ordering time, we propose an optimization approach that can be viewed as an alternative method to the classic approach by Dixit et al. (1994) and Li and Kouvelis (1999). Our approach leads to deeper analytical results and more transparent ordering policy. Through a numerical experimentation, we compare profitability of the two parties involved under different contracts, pricing schemes, and market conditions. We find that the retailer's ordering policy is determined by a threshold policy based on the current time and input price and that the optimal threshold depends on not only the drift and volatility of the input price, but also their relative magnitude. Our results reveal that the forward contract is a Pareto improvement compared to the spot contract under the Cost-Plus or Profi t-Max pricing, while the supplier may prefer the spot contract over the forward contract under the Market-Driven pricing. Moreover, although having the maximal pricing power is the most favorable condition to the retailer, the supplier does not always benefit from this situation. Furthermore, as the retailer has less pricing power in the market, profitability of both parties is more heavily influenced by the input price volatility.
The Choice Of The Government Optimal Procurement Mechanism
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Author : Stefania Di Serafino
language : en
Publisher:
Release Date : 1996
The Choice Of The Government Optimal Procurement Mechanism written by Stefania Di Serafino and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Procurement Mechanism Design In A Two Echelon Inventory System With Price Sensitive Demand
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Author : Fuqiang Zhang
language : en
Publisher:
Release Date : 2010
Procurement Mechanism Design In A Two Echelon Inventory System With Price Sensitive Demand written by Fuqiang Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
This paper studies a buyer's procurement strategies in a two-stage supply chain with price-sensitive demand. The buyer procures a product from a supplier and then sells to the marketplace. Market demand is stochastic and depends on the buyer's selling price. The supplier's production cost is private information, and the buyer only knows the distribution of the cost. Both the buyer and the supplier can hold inventories to improve service, and a periodic review inventory system is considered. The buyer takes two attributes into consideration when designing the procurement mechanism: quantity attribute (i.e., the total purchase quantity) and service-level attribute (i.e., the supplier's delivery performance). We first identify the optimal procurement mechanism for the buyer, which consists of a nonlinear menu of contracts for each of the two attributes. It can be shown that the optimal mechanism induces both a lower market demand and a lower service level compared to the supply chain optimum. In view of the complexity of the optimal mechanism, we proceed to search for simpler mechanisms that perform well for the buyer. We find that the above two attributes have different implications for procurement mechanism design: The value of using complex contract terms is generally negligible for the service-level attribute, while it can be highly valuable for the quantity attribute. In particular, we demonstrate that a fixed service-level contract, which consists of a target service level and a price-quantity menu, yields nearly optimal profit for the buyer. Additionally, the price-quantity menu is essentially a quantity discount scheme widely observed in practice.
The Politics Of Procurement
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Author : Aaron Plamondon
language : en
Publisher: UBC Press
Release Date : 2010-07-01
The Politics Of Procurement written by Aaron Plamondon and has been published by UBC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with History categories.
In 1993, Canada’s Liberal Party cancelled an order to replace the Sea King maritime helicopter. The Liberals claimed the Tory plan was too expensive, but the cancellation itself actually cost taxpayers hundreds of millions of dollars. The incident drew public attention to the waste in Canada’s defence spending and to the under-equipped state of its military. Aaron Plamondon ties the bungled attempts to replace the Sea King – before and since 1993 – to the evolution of the weapons procurement process in Canada since Confederation. He reveals that partisan politics, rather than a desire to increase the military’s capabilities, has driven the nation’s policy-makers.
Computer Science For Environmental Engineering And Ecoinformatics
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Author : Yuanxu Yu
language : en
Publisher: Springer
Release Date : 2011-07-18
Computer Science For Environmental Engineering And Ecoinformatics written by Yuanxu Yu and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-18 with Computers categories.
This two-volume set (CCIS 158 and CCIS 159) constitutes the refereed proceedings of the International Workshop on Computer Science for Environmental Engineering and EcoInformatics, CSEEE 2011, held in Kunming, China, in July 2011. The 150 revised full papers presented in both volumes were carefully reviewed and selected from a large number of submissions. The papers are organized in topical sections on computational intelligence; computer simulation; computing practices and applications; ecoinformatics; image processing information retrieval; pattern recognition; wireless communication and mobile computing; artificial intelligence and pattern classification; computer networks and Web; computer software, data handling and applications; data communications; data mining; data processing and simulation; information systems; knowledge data engineering; multimedia applications.
Introduction To Food And Agribusiness Management
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Author : Gregory A. Baker
language : en
Publisher:
Release Date : 2002
Introduction To Food And Agribusiness Management written by Gregory A. Baker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
This introduction to the entire field of agribusiness provides detailed coverage of the four basic topics of business: accounting, financing, marketing, and management - as well as forms of business organization. A section on agribusiness financing provides students with comprehensive material that explores how agribusiness firms are financed with stocks and bonds, and through various other sources. Information on strategic marketing discusses how managers develop a brand, and how a firm discovers marketing opportunities. The text also shows students how individuals and firms form strategic alliances and new generation co-operatives.