Topic
Procurement
About: Procurement is a research topic. Over the lifetime, 25669 publications have been published within this topic receiving 334145 citations.
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TL;DR: In this article, the implications of the rapid internationalization of a small cadre of retail transnational corporations over the last 15 years for supply network structures in a range of economies in Eastern Europe and East Asia are explored.
Abstract: This paper explores the implications of the rapid internationalization of a small cadre of retail transnational corporations over the last 15 years for supply network structures in a range of economies in Eastern Europe and East Asia. Five sets of ongoing restructuring dynamics are identified: the centralization of procurement, logistical upgrading, supply network shortening and new intermediaries, the imposition of quasi-formal contracts, and the development of private standards. It is suggested that these processes are leading to an ongoing 'shakeout' of the supply base that is favouring relatively large, well-capitalized suppliers. Copyright 2005, Oxford University Press.
200 citations
TL;DR: The results of the analysis demonstrate that significant profit improvements can be achieved if a moderate fraction of the commodity demand is procured via spot markets, and show that companies who use spot markets can offer a higher expected service level, but that they might experience a higher variability in profits.
200 citations
TL;DR: A new two-stage stochastic network flow model to help decide how to rapidly supply humanitarian aid to victims of a disaster within this context is developed and it is demonstrated that the heuristic performs well for real and random instances.
197 citations
TL;DR: One of the major findings is that buyer’s warning capability plays a vital role in enhancing supply chain resilience, and a scenario-based mathematical model is developed such that it considers objectives under uncertainties including disruption risks and operational risks.
Abstract: This paper investigates the use of sourcing strategies to achieve supply chain resilience under disruptions. The coping strategies considered are single and multiple sourcing, backup supplier contracts, spot purchasing, and collaboration and visibility. Collaboration and visibility, which affect suppliers’ recovery capabilities and a buyer’s warning capability, have not been similarly modelled in the past. A scenario-based mathematical model is developed such that it considers objectives under uncertainties including disruption risks and operational risks. A broad numerical study examines its output for various risk attitudes in a decision-maker, ranging from risk neutral to risk averse. The sensitivity of procurement strategies to other key parameters such as recovery and warning capabilities is examined. One of the major findings is that buyer’s warning capability plays a vital role in enhancing supply chain resilience. We seek to build on these efforts to further support disruption planning and mitigat...
197 citations
TL;DR: The authors assess empirically the effects of the winner's curse which, in common-value auctions, counsels more conservative bidding as the number of competitors increases and find that median procurement costs rise as competition intensifies.
Abstract: We assess empirically the effects of the winner's curse which, in common-value auctions, counsels more conservative bidding as the number of competitors increases. First, we construct an econometric model of an auction in which bidders' preferences have both common- and private-value components, and propose a new monotone quantile approach which facilitates estimation of this model. Second, we estimate the model using bids from procurement auctions held by the State of New Jersey. For a large subset of these auctions, we find that median procurement costs rise as competition intensifies. In this setting, then, asymmetric information overturns the common economic wisdom that more competition is always desirable.
197 citations