Development and analysis of discount-off-of-market price option contracts for procurement management
Tutor / director / avaluadorZhu, Wanshan
Realitzat a/ambQing hua da xue
Tipus de documentTreball Final de Grau
Condicions d'accésAccés restringit per decisió de l'autor
This paper analyses how to benefit from discount-off-of-market price option contracts to increase supply chain efficiency when demand and spot price are random. To do so, a portfolio of these contracts and a fixed contract would be considered to do the theoretical and practical approaches. First of all, a single-period portfolio procurement problem will be developed and a model that describes the event will be constructed. After that, this model will be solved using a geometrical approach, as in Fu et al. (2010), and a shortest- monotone path algorithm. Furthermore, some analysis will be done to analyse the effect of volatility of spot price and demand; the effect of correlation and the effect of using a portfolio instead of using only one or two contracts. Additionally, a two-period extension will also be analysed. Finally, a practical study would be carried to unveil the real practicality and usefulness of discount-off-of-market price option contracts.
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