IEEE - Institute of Electrical and Electronics Engineers, Inc. - Forward Sourcing or Spot Trading? Optimal Commodity Procurement Policy with Demand Uncertainty Risk and Forecast Update

Author(s): Qiang Li ; Baozhuang Niu ; Lap-Keung Chu
Sponsor(s): IEEE Systems Council
Publisher: IEEE - Institute of Electrical and Electronics Engineers, Inc.
Volume: PP
Page(s): 1 - 11
ISSN (CD): 2373-7816
ISSN (Paper): 1932-8184
ISSN (Online): 1937-9234
DOI: 10.1109/JSYST.2016.2540648
Regular:

We consider a commodity procurement problem where a firm satisfies a future customer demand with uncertainty risk via spot trading and forward sourcing. Although the firm can make demand forecast... View More

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