Optimal Procurement Strategies for a Risk-Averse Buyer When Price Is Uncertain

DOI10.6186/IJIMS.201906_30(2).0002zbMath1455.91090OpenAlexW2973386315MaRDI QIDQ5143358

Qiao Wu, Unnamed Author

Publication date: 11 January 2021

Full work available at URL: http://airitilibrary.cn/Publication/Index?DocID=10171819-201906-201907160001-201907160001-113-122

zbMATH Keywords

expected utilityrisk aversionprocurement strategyprice risk

Mathematics Subject Classification ID

Utility theory (91B16) Microeconomic theory (price theory and economic markets) (91B24)

Cites Work

• Supply chain risk analysis with mean-variance models: a technical review
• Optimal spot market inventory strategies in the presence of cost and price risk
• Optimal procurement strategies for online spot markets.
• Optimal newsvendor policies for dual-sourcing supply chains: A disruption risk management framework
• Optimal Inventory Policies when Purchase Price and Demand Are Stochastic
• Inventory Control with an Exponential Utility Criterion
• Stochastic Prices in a Single-Item Inventory Purchasing Model

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