Panos Kouvelis, Lingxiu Dong, Onur Boyabatli, Rong Li

Handbook of Integrated Risk Management in Global Supply Chains (eBook, PDF)

• Format: PDF

Produktbeschreibung

A comprehensive, one-stop reference for cutting-edge research in integrated risk management, modern applications, and best practices In the field of business, the ever-growing dependency on global supply chains has created new challenges that traditional risk management must be equipped to handle. Handbook of Integrated Risk Management in Global Supply Chains uses a multi-disciplinary approach to present an effective way to manage complex, diverse, and interconnected global supply chain risks. Contributions from leading academics and researchers provide an action-based framework that captures real issues, implementation challenges, and concepts emerging from industry studies.The handbook is divided into five parts: * Foundations and Overview introduces risk management and discusses the impact of supply chain disruptions on corporate performance * Integrated Risk Management: Operations and Finance Interface explores the joint use of operational and financial hedging of commodity price uncertainties * Supply Chain Finance discusses financing alternatives and the role of financial services in procurement contracts; inventory management and capital structure; and bank financing of inventories * Operational Risk Management Strategies outlines supply risks and challenges in decentralized supply chains, such as competition and misalignment of incentives between buyers and suppliers * Industrial Applications presents examples and case studies that showcase the discussed methodologies Each topic's presentation includes an introduction, key theories, formulas, and applications. Discussions conclude with a summary of the main concepts, a real-world example, and professional insights into common challenges and best practices. Handbook of Integrated Risk Management in Global Supply Chains is an essential reference for academics and practitioners in the areas of supply chain management, global logistics, management science, and industrial engineering who gather, analyze, and draw results from data. The handbook is also a suitable supplement for operations research, risk management, and financial engineering courses at the upper-undergraduate and graduate levels.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 624
• Erscheinungstermin: 31. Oktober 2011
• Englisch
• ISBN-13: 9781118115770
• Artikelnr.: 37352355

Autorenporträt

PANOS KOUVELIS, PhD, is Emerson Distinguished Professor of Operations and Manufacturing Management in the Olin Business School of Washington University in St. Louis, where he also serves as Director of the Boeing Center for Technology, Information and Manufacturing. LINGXIU DONG, PhD, is Associate Professor of Operations and Manufacturing Management in the Olin Business School of Washington University in St. Louis. ONUR OYABATLI, PhD, is Assistant Professor of Operations Management in the Lee Kong Chian School of Business at Singapore Management University. RONG LI, PhD, is Assistant Professor of Operations Management in the Lee Kong Chian School of Business at Singapore Management University.

Inhaltsangabe

Foreword xiii Preface xv Acknowledgments xxiii Contributors xxv Part ONE Foundations and Overview 1 Integrated Risk Management: A Conceptual Framework with Research Overview and Applications in Practice 3 1.1 Introduction
3 1.2 An Action-Based Framework for Supply Chain Risk Management
4 1.3 Risk Mitigation Strategies
8 1.4 Research Opportunities
10 Reference
12 2 Risk Management and Operational Hedging: An Overview 13 2.1 Introduction
13 2.2 Risk Management: Concept and Process
14 2.3 Identification of Operational Hazards
18 2.4 Risk Assessment and Valuation
22 2.5 Tactical Risk Decisions and Crisis Management
28 2.6 Strategic Risk Mitigation
30 2.7 Four Operational Hedging Strategies
33 2.8 Financial Hedging of Operational Risk
36 2.9 Tailored Operational Hedging
42 2.10 Guidelines for Operational Risk Management
47 References
48 3 The Effect of Supply Chain Disruptions on Corporate Performance 51 3.1 Introduction
51 3.2 Sample
Performance Metrics
and Methodology
53 3.3 The Effect of Supply Chain Disruptions on Corporate Performance
55 3.4 Drivers of Supply Chain Disruptions
63 3.5 What Can Firms Do To Mitigate the Chances of Disruptions?
64 3.6 Summary
72 A. Methodology Used To Estimate Stock Price Performance
73 B. Methodology Used To Estimate Changes in Share Price Volatility
75 C. Methodology Used To Estimate Changes in Profitability
76 References
76 4 Operational Strategies for Managing Supply Chain Disruption Risk 79 4.1 Introduction
79 4.2 Stockpile Inventory
82 4.3 Diversify Supply
86 4.4 Backup Supply
89 4.5 Manage Demand
92 4.6 Strengthen Supply Chain
96 4.7 Conclusions
98 References
100 5 Beyond Risk: Ambiguity in Supply Chains 103 5.1 Introduction to Risk and Ambiguity
103 5.2 Ambiguity in a Single Period Newsvendor Setting
109 5.3 Ambiguity in a Supply Chain Inventory Positioning Setting
113 5.4 Conclusions
120 References
122 Part TWO Integrated Risk Management: Operations and Finance Interface 6 Managing Storable Commodity Risks: Role of Inventories and Financial Hedges 127 6.1 Introduction
127 6.2 Literature Review
132 6.3 Problem Description
133 6.4 Optimal Policy for Single Contract Financial Hedging
137 6.5 Optimal Policy for a Portfolio of Financial Hedges
142 6.6 Role of the Operational and Financial Hedges
143 6.7 Example of Model Application and Results
150 6.8 Managerial Insights and Conclusions
153 References
154 7 Integrated Production and Risk Hedging with Financial Instruments 157 7.1 Introduction
158 7.2 Single Period Models
159 7.3 Multiperiod Models
177 7.4 Conclusion
192 References
193 8 Capacity Expansion As A Contingent Claim: Flexibility And Real Options In Operations 197 8.1 Introduction
198 8.2 A Financial Option Pricing Model: Black Scholes (1973) and Merton (1973) Model
201 8.3 Real Options Valuation (ROV) in Operations
205 8.4 Conclusion
214 References
215 9 Financial Valuation of Supply Chain Contracts 219 9.1 Introduction
220 9.2 Review of Financial Markets
Arbitrage
and Martingales
223 9.3 A Model for Financial Valuation of Supply Chain Contracts
226 9.4 Dual Formulation
231 9.5 Experimental Study
234 9.6 Conclusion
243 References
243 Part THREE Supply Chain Finance 10 Supply Chain Finance 249 10.1 Introduction
250 10.2 TheModel Setting
Common Notation and Assumptions
253 10.3 Bankrupt-Prone Supply Chains under Wholesale Price Contracts
255 10.4 Financing the Bankrupt-Prone Newsvendor with Trade Credit Contracts
272 10.5 Conclusions and Future Research
285 References
286 11 The Role of Financial Services in Procurement Contracts 289 11.1 Introduction
290 11.2 Model Description
294 11.3 Wholesale Contract with a Budget Constraint (wT
QT)
298 11.4 Equilibrium Under a Credit Contract (QI
wI
?I)
299 11.5 Equilibrium with External Financing (QE
wE)
307 11.6 Computational Experiments
310 11.7 Concluding Remarks and Extensions
315 References
324 12 Production/Inventory Management and Capital Structure 327 12.1 Operations and Finance
327 12.2 The Model
329 12.3 Structural Properties of an Optimal Policy
333 12.4 Characterization of the Optimal Policy
337 12.5 Long-Term Decisions on Capital Structure
346 12.6 Extensions and Variations of the Basic Model
354 12.7 Concluding Remarks
357 12.8 Bibliographical Notes
358 References
360 13 Bank Financing of Newsvendor Inventory: Coordinating Loan Schedules 363 13.1 Introduction
364 13.2 The Stackelberg Game
366 13.3 A Numerical Study
370 13.4 Coordinating Loan Schedules
377 13.5 Concluding Remarks
380 References
384 Part FOUR Operational Risk Management Strategies 14 Decentralized Supply Risk Management 389 14.1 Introduction
389 14.2 Literature Taxonomies
394 14.3 Misalignment of Incentives
398 14.4 Competing Suppliers
398 14.5 Competing Manufacturers
408 14.6 Asymmetric Information
413 14.7 Conclusions
419 References
421 15 Using Supplier Portfolios to Manage Demand Risk 425 15.1 Introduction
426 15.2 Literature Review
428 15.3 A Static Model
430 15.4 A Dynamic Model with Progressive Demand Revelation
436 15.5 Conclusions
442 References
443 16 An Opportunity Cost View of Base-Stock Optimality for the Warehouse Problem 447 16.1 Introduction
448 16.2 A Simple Motivating Example
449 16.3 Model
450 16.4 Base-Stock Optimality
452 16.5 Managerial Aspects
457 16.6 Conclusions
460 References
460 Part FIVE Industrial Applications 17 Procurement Risk Management in Beef Supply Chains 465 17.1 Introduction
465 17.2 Literature Review
470 17.3 Model Description
473 17.4 Computational Experiments for the Beef Supply Chain
477 17.5 Discussion
491 References
493 18 Risk Management in Electric Utilities 495 18.1 Introduction
495 18.2 Price Risk
497 18.3 Volume Risk
501 18.4 Other Risk Examples
507 18.5 Summary
511 References
511 19 Supply Chain Risk Management: A Perspective from Practice 515 19.1 Defining Supply Chain Risk Management
516 19.2 Understanding Your Supply Chain
517 19.3 Developing SCRM Capabilities
518 19.4 Process Approach to Supply Chain Risk Management
523 19.5 Case Study: Cisco Responds to the Sichuan Earthquake
527 19.6 The Importance of an International Standard in SCRM
534 19.7 Conclusion
534 20 A Bayesian Framework for Supply Chain Risk Management Using Business Process Standards 537 20.1 Introduction
538 20.2 Related Literature
541 20.3 A Framework for Supply Chain Risk Categorization
543 20.4 Risk Quantification through Bayesian Learning
545 20.5 Case Study: Risk Modeling for a Global Supply Chain
550 20.6 Summary
561 References
562 Index 565