A novel option contract integrated with supplier selection and inventory prepositioning for humanitarian relief supply chains

Mojtaba Aghajani, S. Ali Torabi and Jafar Heydari

Socio-Economic Planning Sciences, 2020, vol. 71, issue C

Abstract: This paper proposes a novel two-period option contract integrated with supplier selection and inventory prepositioning. A two-stage scenario-based mixed possibilistic-stochastic programming model is developed to cope with various uncertainties. The first stage's decisions include supplier selection and capacity reservation level at each supplier/period and the level of inventory prepositioning. Furthermore, decisions regarding the time and exercised amount are made in the second stage. Applicability of the model is validated through a real case study. Finally, several sensitivity analyses are conducted to examine the effect of important parameters on the solutions to gain useful managerial insights.

Keywords: Humanitarian logistics; Relief supply management; Option contract; Supplier selection; Two-stage possibilistic-stochastic programming (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (26)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceps:v:71:y:2020:i:c:s0038012119300527

DOI: 10.1016/j.seps.2019.100780

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