Risk management of supply and cash flows in supply chains

by Jian Li, Jia Chen, Shouyang Wang

Risk management has become an essential issue in supply chain management, from the modeling of the decision maker's risk preference, and the studies on uncertain elements such as demand, supply, price, lead time, etc., to the consideration of more practical background including cash flow constraints, inventory financing and delayed cash payment. In this new volume, the authors provide a framework to study the interaction of various factors related to risk and their influence on supply chain management. The scope of areas covered includes operations management, decision analysis, and business administration. This book focuses on several key issues of risk management in supply chains. Specifically, an analysis framework is presented for studying the supplier selection problem and identifying the optimal sourcing strategy in a one-retailer two-suppliers supply chain with random yields. The optimal sourcing strategy of a retailer and the pricing strategies of two suppliers under an environment of supply disruption are investigated. Besides, the authors study the dynamic inventory control problems with cash flow constraints, financing decisions as well as delayed cash payment. In addition, originating from the annual international iron ore price negotiation, the authors model the bargaining process to deal with the risk of wholesale price in the game analysis context. Within the three perspectives of risk management in supply chains, the modeling of decision maker's risk preference has been extensively studied and many results have been obtained to guide the practice. However, the analysis on the other two kinds of topics is still in its infancy, and needs more efforts from academia. It is thus the ambition and innovation for this book to contribute on risk management in supply chains in the following ways:(1) characterizing the explicit sourcing strategy (i.e., single sourcing or dual sourcing) to deal with supply disruption risk;(2) introducing the concepts of financial risk measurement by incorporating cash flow constraints, inventory financing and delayed cash payment into inventory management models; and(3) providing insights for the iron ore price negotiation to help steel manufacturers handle the risk of price increase

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Year of publication:	2011
Authors:	Li, Jian
Other Persons:	Chen, Jia (contributor) ; Wang, Shouyang (contributor)
Publisher:	New York, NY : Springer Science+Business Media, LLC
Subject:	Lieferkette \| Supply chain \| Risikomanagement \| Risk management \| Operations Research \| Operations research \| Supply Chain Management
Description of contents:	Table of Contents [external.dandelon.com] ; Description [zbmath.org]

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Extent:	Online-Ressource v.: digital
Series:	International Series in Operations Research & Management Science ; 165
Type of publication:	Book / Working Paper
Language:	English
Notes:	Includes bibliographical references and index Risk Management of Supply and Cash Flowsin Supply Chains; Abstract; Preface; Contents; List of Figures; List of Tables; Chapter 1 Introduction; 1.1 Risk Analysis of Supply Chain Models; 1.1.1 Risk Management Tools; 1.1.1.1 Utility Maximization; 1.1.1.2 Mean--Variance Trade-Off; 1.1.1.3 Value-at-Risk and Conditional Value-at-Risk; 1.1.1.4 Downside Risk; 1.1.1.5 Prospect Theory; 1.1.1.6 Other Risk Measurements; 1.1.2 Newsvendor Model; 1.1.2.1 Model Formulation; 1.1.2.2 Risk-Neutral Case with Expectation Maximization; 1.1.2.3 Risk-Averse Case with Mean--Variance Trade-Off 1.1.2.4 Mean--Variance Trade-Off with Stockout Cost1.1.2.5 Risk-Averse Case with Utility Maximization; 1.1.2.6 Risk-Averse Case with Conditional Value-at-Risk; 1.1.3 Supply Chain Contract: A Pay-to-Delay Capacity Reservation Contract; 1.1.3.1 Model Formulation; 1.1.3.2 Risk-Neutral Case with Expectation Maximization; 1.1.3.3 Risk-Averse Case with Mean--Variance Trade-Off; 1.1.3.4 Risk-Averse Case with Conditional Value-at-Risk; 1.1.4 Supply Chain Coordination; 1.1.4.1 Pareto-Optimality Criterion; 1.1.4.2 Loss Aversion Function; 1.1.5 Concluding Remarks 1.2 Disruption Management in Supply Chains1.2.1 Introduction; 1.2.2 Disruption Risk Identifying; 1.2.3 Disruption Risk Assessing; 1.2.4 Disruption Risk Mitigating; 1.2.4.1 Contingency Planning; 1.2.4.2 Robust Optimization; 1.2.4.3 Stochastic Models; 1.2.4.4 Real-Time Disruption Management; 1.2.5 Concluding Remarks; 1.3 Financial Risk Measurement in Supply Chains; 1.3.1 Introduction; 1.3.2 A Systematic Risk Analysis; 1.3.2.1 Optimality Criteria with CAPM Model; 1.3.2.2 The (Q, r) Inventory Model Applying CAPM; 1.3.2.3 The Effect of Stochastic Demand and Price 1.3.3 The Risk of Capital and Bankruptcy1.3.3.1 The Importance of Capital Structure; 1.3.3.2 Asset-Based Financing; 1.3.4 Concluding Remarks; 1.4 Organization and Main Conclusions of the Book; Chapter 2 Dynamic Suppliers Selection: Single or Dual Sourcing?; 2.1 Introduction; 2.2 The Problem and Assumptions; 2.3 Single Period Analysis; 2.4 Analysis of the Two-Period Problem; 2.5 A Special Case: Deterministic Demand; 2.6 Numerical Examples; 2.7 Concluding Remarks; Chapter 3 Sourcing Strategy of Retailer and Pricing Strategies of Suppliers; 3.1 Introduction; 3.2 The Problem 3.3 The Centralized Supply Chain3.4 The Decentralized Supply Chain; 3.4.1 The Optimal Strategy of the Retailer; 3.4.2 The Optimal Strategies of Competitive Suppliers; 3.4.3 The Optimal Strategies of Cooperative Suppliers; 3.5 Numerical Examples; 3.6 Concluding Remarks; Appendix; Chapter 4 Dynamic Inventory Management with Cash Flow Constraints; 4.1 Introduction; 4.2 Assumptions and Model Formulation; 4.3 The Optimal Inventory Control Strategy with CashFlow Constraints; 4.4 Numerical Examples; 4.5 Concluding Remarks; Appendix; Chapter 5 Dynamic Inventory Management with Short-Term Financing 5.1 Introduction Electronic reproduction; Available via World Wide Web
ISBN:	978-1-4614-0511-5 ; 978-1-283-35309-0 ; 978-1-4614-0510-8
Other identifiers:	10.1007/978-1-4614-0511-5 [DOI]
Classification:	Unternehmensführung ; Methoden und Techniken der Betriebswirtschaft ; Fertigung
Source:	ECONIS - Online Catalogue of the ZBW

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