Download Capacity Reservation for Capital-Intensive Technologies: An by Dr. Stefan Spinler (auth.) PDF

By Dr. Stefan Spinler (auth.)

Arguably the primary challenge in operations examine and administration technology (OR/MS) addressed via e-Business is best coordination of offer and de­ mand, together with expense discovery and aid of transactions expenditures of consumer­ vendor interactions. In capital-intensive industries like chemical compounds and metal, the out-of-pocket charges of extra means and the chance charges of underuti­ lized skill were vital components using the expansion of exchanges for bettering call for and provide coordination via e-Business systems. Stefan Spinler addresses in his dissertation essentially the most attention-grabbing elements of this evolution for OR/MS, the parallel improvement of long term and momentary markets for capability and output, followed by means of quite a number unique strategies and forwards because the simple mechanisms assisting transac­ tions. this can be a attention-grabbing study subject since it builds at the strong framework of genuine techniques, whereas connecting on to key operations deci­ sions (capacity making plans, staffing, upkeep, etc) of the crops and applied sciences whose output is the focal point of contracts. From the perspec­ tive of perform, using those contracting mechanisms, as facilitated by way of a brand new breed of B2B exchanges, represents a chance for extra enhancing provide chain functionality and capital asset productivity.

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Extra resources for Capacity Reservation for Capital-Intensive Technologies: An Options Approach

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Slo ° = [0, wg'ax) , withwg'ax defined by ps (wg'ax) 0 or SlI = {w I < wi in :::; W :::; wiax < oo}. 3. Sl2 = 0 or Sl2 = [w~in , w~iX] U . . U [w~~n, w~~X] 2. SlI = n E N+ and w~in 4· Sl3 = 0 or Sl3 = [wj,in ,wj,ix] m E 00 u ... fin. i:- 0 and Sl2 U Sl3 f:. 0. = e. U Sl2 ,j, with U Sl3,k , with j=l ,... ,n k=l, ... ,m N+, n - 1 :::; m :::; n 5. SlI U Sl2 6. = wfin . 41 E {w~~X, wj,~}. Proof. 1. 4). 2. 10) and 1. we have wi ax < 00 and wi in > 0. 3. Sl2 = 0 if ps > U1 (Q) for w such that U1 (Q) > e, otherwise Sl2 is the union of intervals within which U1 (Q) > ps holds true.

What is missing up to now is an extension of these results to scenarios where , additionally, price and cost risk play a role. Tsay (1999) explores in depth the benefits granted by quantity flexibility contracts, which is also reflected in their use by companies such as Sun Microsystems, Solectron (a contract manufacturer), Toyota Motor Corporation and IBM. The author shows that there is a trade-off between the contractual flexibility and the unit price . The customer is ready to commit to a minimum purchase in exchange for a lower unit price , which the seller is willing to grant benefiting from more predictable sales.

2. If [l3 =I- 0, the optimal number of options, Q*(e, r) , is strictly decreasing in the reservation fee r and the execution fee e. :~ < 0. 24) Proof Consider [l3 =f; 0. 18) implicitly, which yields the two expressions above. 2 reflects the intuition that the demand for options, Q*, is decreasing with the price, that is, the reservation fee r and the execution fee e. 18) does, in general, not allow analytic expressions for the buyer's and seller's strategies, we restrict ourselves in what follows to the important class of affine separable utility.

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