This volume offers a framework to study the interaction of various factors related to risk and their influence on supply chain management. The scope of area covered includes operations management, decision analysis and business administration.

Risk management has become an essential issue in supply chain management, from the modeling of the decision maker's risk preference, and the studies on uncertain elements such as demand, supply, price, lead time, etc., to the consideration of more practical background including cash flow constraints, inventory financing and delayed cash payment. In this new volume, the authors provide a framework to study the interaction of various factors related to risk and their influence on supply chain management.

The scope of areas covered includes operations management, decision analysis, and business administration. This book focuses on several key issues of risk management in supply chains. Specifically, an analysis framework is presented for studying the supplier selection problem and identifying the optimal sourcing strategy in a one-retailer two-suppliers supply chain with random yields. The optimal sourcing strategy of a retailer and the pricing strategies of two suppliers under an environment of supply disruption are investigated. Besides, the authors study the dynamic inventory control problems with cash flow constraints, financing decisions as well as delayed cash payment. In addition, originating from the annual international iron ore price negotiation, the authors model the bargaining process to deal with the risk of wholesale price in the game analysis context.

Within the three perspectives of risk management in supply chains, the modeling of decision maker's risk preference has been extensively studied and many results have been obtained to guide the practice. However, the analysis on the other two kinds of topics is still in its infancy, and needs more efforts from academia. It is thus the ambition and innovation for this book to contribute on risk management in supply chains in the following ways:

(1) characterizing the explicit sourcing strategy (i.e., single sourcing or dual sourcing) to deal with supply disruption risk;

(2)introducing the concepts of financial risk measurement by incorporating cash flow constraints, inventory financing and delayed cash payment into inventory management models; and

(3) providing insights for the iron ore price negotiation to help steel manufacturers handle the risk of price increase.

Considers incorporating cash flow constraints, inventory financing and delayed cash payment into inventory management models Includes models developed by authors for steel industry price increases Presents single and dual supplier models for optimal sourcing strategies

Autorentext

Minchao Huang, PhD, is a professor at College of Aerospace Science and Engineering of National University of Defense Technology (NUDT) in China.He is mainly engaged in the research of liquid rocket engine, solar thermal propulsion system, micro satellite precision thrusters. He has presided over more than 30 national fund projects, aerospace science and technology fund projects, etc. He has won 5 national invention patents, published more than 100 academic papers, 5 academic monographs and 5 textbooks. Jianjun Wu, PhD, is a professor at College of Aerospace Science and Engineering of National University of Defense Technology (NUDT) in China.Professor Wu's primary research interests lie in space electric propulsion technology and rocket engine technology. He has completed more than 30 research projects, won national outstanding scientific and Technological Book Award, Invention Award at the Geneva International Exhibition, and 5 Gold awards at the International and National Invention Exhibition. He has authorized more than 100 patents, published more than 300 papers and 10 monographs. Jian Li, PhD, is a lecturer at College of Aerospace Science and Engineering of National University of Defense Technology (NUDT) in China.His primary research directions are space electric propulsion technology, low-temperature plasma application technology, pulse plasma propulsion technology. He authored over 20 publications in journals and 5 monographs. Yuqiang Cheng,PhD, is a professor at College of Aerospace Science and Engineering of National University of Defense Technology (NUDT) in China.His primary research directions are the dynamics and loss reduction control technology of reusable liquid rocket engines, health monitoring technology of launch vehicle propulsion systems and advanced aerospace power technology. Dr. Cheng has authored 7 monographs and textbooks, contributed to over 100 scholarly articles, and successfully completed more than 40 research projects. His accomplishments have been recognized with a first prize and a second prize at the provincial and ministerial levels.

Inhalt
Introduction.- Dynamic Suppliers Selection: Single or Dual Sourcing?.- Sourcing Strategy of Retailer and Pricing Strategies of Suppliers.- Dynamic Inventory Management with Cash Flow Constraints.- Dynamic Inventory Management with Short-Term Financing.- Delayed Cash Payment, Receivable and Inventory Management.- Game Analysis in Negotiation of Iron Ore Price.- Conclusions and Further Research Topics.