M. Rabbani, Ali Reza Nazari-Estahbanati, S. Aghamohamadi-Bosjin
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Supplier selection and order allocation problem through option contracts under supply disruption risks
Selecting well-performed suppliers and ordering at the right time are the keys to success. Many types of unpredictable disasters such as breakdowns, labour strikes, and natural calamities have occurred, which are essential elements, resulting in supply disruption risk. This paper presents a supplier selection model and order allocation to minimise costs incurred in multi-product supply chains under disruption risks at supplier sites or groups of suppliers in the same situation under cap-and-trade regulation. In order to reduce disruption risk, options contracts are applied to hedge against adverse effects of supplier disruptions. Numerical instances exemplify the proposed method. The results indicate that option contracts reduce costs significantly and, even at a very high initial cost, are still cost-effective. The results of sensitivity analyses also show carbon emissions levels can have a significant impact on the income and behaviour of decision makers.
期刊介绍:
IJBPSCM covers original, high-quality and cutting-edge research on all aspects of supply chain modelling, aiming at bridging the gap between theory and practice with applications analysing the real situation to improve business performance. Topics covered include Business performance modelling, strategy Vendor/supplier selection, supplier development, purchasing management Supply chain management (SCM), green supply chain modelling Reverse logistics, closed loop/knowledge-based supply chains, 3PL/4PL Sustainable/quality based/agile/leagile/intelligent SCM Supply chain performance/optimisation/risk/decision making/support systems AI, information sharing in SCM, systems approach to SCM Coordinated/global/flexible SCM, risk mitigation strategies Stochastic supply chain games IT-enabled SCM, fuzzy modelling, data mining Supply chain network management, modelling/simulation, implementation Training/education, information security, RFID Supply chain analysis, transportation decisions, vehicle routing, bullwhip effect Logistics in disaster management Cross-country comparison.