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Call, put and bidirectional option contracts in agricultural supply chains with sales effort

机译：努力进行农业供应链中的看涨，看跌和双向期权合约

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摘要

This paper develops option contracts in a supplier-retailer agricultural supply chain where the market demand depends on sales effort. First, we examine a benchmark case of integrated supply chain with the loss rate. Second, we introduce three coordinating option contracts led by the supplier to reduce the retailer's risk, where the call option contract can reduce the shortage risk, the put option contract can reduce the inventory risk and the bidirectional option contract can reduce the bilateral risk. We find that both the optimal initial order quantity and the optimal option quantity increase with the sales effort and the option price will balance the influence of the loss rate on supply chain coordination. Furthermore, the bidirectional option price is the highest while its option quantity is the least, and the put option initial order quantity is the highest. Third, we also consider an option contract led by the retailer to reduce the supplier's wholesale risk. Among the above four option contracts, we find that the option quantity led by the retailer is the highest. Finally, the numerical examples present the impact of the parameters on the optimal decisions, and provide practical managerial insights to reduce the different risk in the agricultural supply chain.
机译：本文在市场需求取决于销售努力的供应商-零售商农业供应链中发展期权合约。首先，我们研究损失率与供应链整合的基准案例。其次，我们引入了三个由供应商牵头的协调期权合约，以降低零售商的风险，其中看涨期权合约可以降低短缺风险，看跌期权合约可以降低库存风险，而双向期权合约可以降低双边风险。我们发现最优初始订单数量和最优期权数量都随着销售努力而增加，期权价格将平衡损失率对供应链协调的影响。此外，双向期权价格最高，而期权数量最少，看跌期权初始订单数量最高。第三，我们还考虑了由零售商牵头的期权合同，以降低供应商的批发风险。在上述四份期权合约中，我们发现零售商领导的期权数量最高。最后，这些数字示例说明了参数对最优决策的影响，并提供了实用的管理见解来减少农业供应链中的不同风险。

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  • 来源
    《Applied Mathematical Modelling》 |2017年第7期|1-16|共16页
  • 作者

    Yang Lei; Tang Ruihong; Chen Kebing;

  • 作者单位

    School of Economics and Commerce, South China University of Technology, Guangzhou, Guangdong, China;

    School of Economics and Commerce, South China University of Technology, Guangzhou, Guangdong, China;

    Department of Mathematics, Nanjing University of Aeronautics and Astronautics, Nanjing, Jiangsu, China;

  • 收录信息 美国《科学引文索引》(SCI);美国《工程索引》(EI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

    Agricultural supply chain; Coordination; Option contracts; Sales effort;

    机译：农业供应链;协调;期权合约;销售努力;

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