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In: Decision sciences, Band 35, Heft 4, S. 691-712
ISSN: 1540-5915
ABSTRACTWe study single and multiperiod quantity flexibility contracts involving one demand forecast update in each period and a spot market. We obtain the optimal order quantity at the beginning of a period and order quantities on contract and from the spot market at the then prevailing price after the forecast revision and before the demand materialization. The amount that can be purchased on contract is bounded by a given flexibility limit. We discuss the impact of the forecast quality and the level of flexibility on the optimal decisions and managerial insights behind the results.
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Working paper
In: Naval Research Logistics, Band 62, Heft 8
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In: Optimal Control and Partial Differential Equations in Honour of Professor Alain Bensoussan's 60th Birthday, J.L. Menaldi, E. Rofman, and A. Sulem (Eds.), IOS Press, Amsterdam, 2001, 414-423
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In: ITORMS (Interactive Transactions of OR/MS), 3(2), 2000
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In: HKUST Business School Research Paper No. 2021-33
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In: Forthcoming, Operations Research
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Working paper
In: Operations Research, 2017, 65(2):379-395
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In: Journal of hospitality marketing & management, Band 22, Heft 7, S. 752-769
ISSN: 1936-8631