Lee, C.K.M.; Lin, Danping; Pasari, Rohan - In: Industrial Management & Data Systems 114 (2014) 5, pp. 778-796
uncertain yields, stochastic demand and dynamic spot market prices. Monte Carlo simulation based experiments were conducted to … volatile demand conditions. In the case study, it was found that the profit is higher for the spot market than for contract … pricing if there is significant demand and spot price volatility. Originality/value – This research considers not only demand …