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Quality investment and price decision in a risk-averse supply chain
Xie, Gang1; Yue, Wuyi2; Wang, Shouyang1; Lai, Kin Keung3
2011-10-16
Source PublicationEUROPEAN JOURNAL OF OPERATIONAL RESEARCH
ISSN0377-2217
Volume214Issue:2Pages:403-410
AbstractIn this paper, we investigate quality investment and price decision of a make-to-order (MTO) supply chain with uncertain demand in international trade. Due to volatility of orders from buyers, the supplier and the manufacturer in the supply chain are subject to financial risk. In contrast to the general assumption that players in a supply chain are risk neutral in quality investment and price decision, we consider the risk-averse behavior of the players in three different supply chain strategies: Vertical Integration (VI), Manufacturer's Stackelberg (MS) and Supplier's Stackelberg (SS). The study shows that both supply chain strategy and risk-averse behavior have significant impacts on quality investment and pricing. Compared to a risk-neutral supply chain, a risk-averse supply chain has lower, same and higher quality of products in VI, MS and SS, respectively. Also, we derive the conditions under which the supply chain strategy is implemented in a decentralized setting. A numerical study is used to illustrate some related issues. (C) 2011 Elsevier B.V. All rights reserved.
KeywordQuality investment Supply chain strategy Preference theory Make-to-order Risk tolerance
DOI10.1016/j.ejor.2011.04.036
Language英语
Funding ProjectNational Natural Science Foundation of China[70871107] ; National Natural Science Foundation of China[70731003] ; China Postdoctoral Science Foundation[20060400103] ; Chinese Academy of Sciences[KACX1-YW-0906] ; [21500086]
WOS Research AreaBusiness & Economics ; Operations Research & Management Science
WOS SubjectManagement ; Operations Research & Management Science
WOS IDWOS:000293313400021
PublisherELSEVIER SCIENCE BV
Citation statistics
Cited Times:89[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.amss.ac.cn/handle/2S8OKBNM/13062
Collection系统科学研究所
Affiliation1.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China
2.Konan Univ, Dept Intelligence & Informat, Kobe, Hyogo 6588501, Japan
3.City Univ Hong Kong, Dept Management Sci, Hong Kong, Hong Kong, Peoples R China
Recommended Citation
GB/T 7714
Xie, Gang,Yue, Wuyi,Wang, Shouyang,et al. Quality investment and price decision in a risk-averse supply chain[J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,2011,214(2):403-410.
APA Xie, Gang,Yue, Wuyi,Wang, Shouyang,&Lai, Kin Keung.(2011).Quality investment and price decision in a risk-averse supply chain.EUROPEAN JOURNAL OF OPERATIONAL RESEARCH,214(2),403-410.
MLA Xie, Gang,et al."Quality investment and price decision in a risk-averse supply chain".EUROPEAN JOURNAL OF OPERATIONAL RESEARCH 214.2(2011):403-410.
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