面临汇率和供应风险的双渠道采购决策研究

Abstract

Abstract: Dual sourcing is an effective way for procurement risk diversification. This paper considers a risk-averse manufacturer that faces two sourcing alternatives: a domestic supplier that is unreliable, and a supplier in the manufacturer's home country that is fully reliable, and actual price of components is affected by fluctuated exchange rate. The joint optimal procurement decision for the risk-averse manufacturer is developed and is compared with the situation of risk neutrality. Modeling analysis shows that the risk-neutral manufacturer only places order to single supplier. The risk-averse manufacturer, however, is influenced by the fluctuations of both exchange rate and supply and their correlation. When the reliability and exchange rate correlates, it may procure from both sources so as to reduce risk. Results from numerical study show that dual sourcing can lower the loss risk.

Key words: procurement management, risk management, risk averse, exchange rate fluctuation, uncertain supply

CLC Number:

F406.7

WEN Yuan, XIAO Yong-bo. Dual Sourcing Decisions under Exchange Rate and Supply Risks[J]. Chinese Journal of Management Science, 2013, 21(4): 35-43.

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Dual Sourcing Decisions under Exchange Rate and Supply Risks

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