Flexible Buy-back Contract Model Design with Financial Options in a Supply ChainFlexible Buy-back Contract Model Design with Financial Options in a Supply Chain
- Other Titles
- Flexible Buy-back Contract Model Design with Financial Options in a Supply Chain
- Authors
- 추봉성
- Issue Date
- 2018
- Publisher
- 한국유통경영학회
- Keywords
- Buy-back Contract; Optimization Model; Order Flexibility; Call option; Put Option
- Citation
- 유통경영학회지, v.21, no.3, pp.77 - 81
- Journal Title
- 유통경영학회지
- Volume
- 21
- Number
- 3
- Start Page
- 77
- End Page
- 81
- URI
- https://scholarworks.bwise.kr/sch/handle/2021.sw.sch/6655
- DOI
- 10.17961/jdmr.21.3.201806.77
- ISSN
- 2384-0137
- Abstract
- The purpose of this research is to show that option contract model played the decisive role in removing the risk. As one of the option types, we design a mathematical model for buy-back contract and provide the optimal solution to maximize the expected profit of buyers. We here deal with four cases by demand scenarios for formulation and derive the optimal solution. And we also examine the effectiveness of model by numerical example comparing with call option and put option models. In the numerical example, we found that availability of the buy-back option model has changed by demand sections. Moreover, we also verified that an initial order quantity of the buy-back is more than call option and less than put option when the expected profits of the call-put-buy-back option model are equal.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - College of Global Business > Department of International Trade and Commerce > 1. Journal Articles
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.