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The value of flexibility in mitigating supply chain transportation risks
International Journal of Production Research ( IF 9.2 ) Pub Date : 2020-09-22 , DOI: 10.1080/00207543.2020.1811417
Roberta Pellegrino 1 , Nicola Costantino 1 , Danilo Tauro 1
Affiliation  

This paper investigates the value of the flexibility created by the transportation options in mitigating supply chain transportation risks. We accomplish this aim by developing an innovative computational model which uses the Real Option Valuation method to model the inner flexibility mechanism of the transportation options to choose between the Safety Net carrier and the spot market carrier on the basis of the actual conditions of the spot market (price, service level, and required transportation capacity), which is the foundation of the mitigation capability of transportation options. Through the case of a real supply chain of a large Fortune 100 multinational leader in the Fast Mover Consumer Goods (FMCG) industry, we also investigate the implications of a transportation options response in case of several sources of uncertainties, namely transportation capacity shortage, price volatility and service level reliability. Findings of the application support the understanding of which conditions increase the value of flexibility of the transportation options and how much flexibility is attractive given the initial sunk cost to acquire it.



中文翻译:

灵活性在降低供应链运输风险方面的价值

本文研究了运输选项所创造的灵活性在降低供应链运输风险方面的价值。我们通过开发一种创新的计算模型来实现这一目标,该模型使用实物期权估值方法对运输选项的内部灵活性机制进行建模,以根据现货市场的实际情况在安全网承运人和现货市场承运人之间进行选择(价格、服务水平和所需的运输能力),这是运输方案缓解能力的基础。通过快速消费品 (FMCG) 行业中一家大型财富 100 强跨国领导者的真实供应链案例,我们还调查了在多种不确定性来源的情况下运输选项响应的影响,即运力短缺、价格波动和服务水平可靠性。应用程序的结果支持了解哪些条件会增加运输选项灵活性的价值,以及考虑到获得它的初始沉没成本,灵活性的吸引力有多大。

更新日期:2020-09-22
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