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An optimal put option contract for a reverse supply chain: case of remanufacturing capacity uncertainty
Annals of Operations Research ( IF 4.4 ) Pub Date : 2021-04-09 , DOI: 10.1007/s10479-021-04050-y
Alireza Bakhshi 1 , Jafar Heydari 1
Affiliation  

Reverse supply chain (RSC) management can be implemented to ameliorate environmental and economic goals simultaneously. In 2020, the devastating influences generated by the COVID-19 global pandemic had established high uncertainty in the manufacturers' capacity, which can hinder the fulfillment of such goals. To address such a problem, in this research, we analyze a two-echelon RSC, including a re-manufacturer who, despite facing the remanufacturing capacity uncertainty, remanufactures eligible obsolete products, then re-enters the marketplace, and a collector who accumulates eligible obsolete products from consumers. We survey centralized and decentralized decisions, and also a condition where the collector, as a Stackelberg game leader, offers a put option contract as a risk-sharing approach and decides on both option and exercise prices; in return, the re-manufacturer determines the order quantity. Contrary to previous studies in which the value of option contracts has been analyzed under demand disruptions, this paper aims to address the performance of a put option contract to mitigate the remanufacturing capacity uncertainty in an RSC. Our results demonstrate that by offering the put option contract and determining the option price as nearly low as the marginal refund cost, not only can the collector motivate the re-manufacturer to augment its order quantity but both parties also attain a win–win profit-sharing outcome. Besides, the customized put option contract can achieve Pareto-improving channel coordination in the condition of remanufacturing capacity uncertainty.



中文翻译:

逆向供应链的最优看跌期权合约:再制造能力不确定的情况

可以实施逆向供应链 (RSC) 管理以同时改善环境和经济目标。2020年,COVID-19全球大流行带来的破坏性影响给制造商的产能带来了高度不确定性,这可能会阻碍这些目标的实现。为了解决这样的问题,在本研究中,我们分析了一个两级 RSC,包括一个再制造商,尽管面临再制造能力的不确定性,但对符合条件的过时产品进行再制造,然后重新进入市场,以及一个收集合格的收集器。来自消费者的过时产品。我们调查了集中式和分散式决策,以及收集者作为 Stackelberg 游戏领导者提供看跌期权合约作为风险分担方法并决定期权和执行价格的情况;作为回报,再制造商决定订单数量。与之前在需求中断下分析期权合约价值的研究相反,本文旨在解决看跌期权合约的表现,以减轻 RSC 中再制造能力的不确定性。我们的结果表明,通过提供看跌期权合约并确定接近边际退款成本的期权价格,收集者不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润——分享成果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。与之前在需求中断下分析期权合约价值的研究相反,本文旨在解决看跌期权合约的表现,以减轻 RSC 中再制造能力的不确定性。我们的结果表明,通过提供看跌期权合约并确定接近边际退款成本的期权价格,收集者不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润——分享成果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。与之前在需求中断下分析期权合约价值的研究相反,本文旨在解决看跌期权合约的表现,以减轻 RSC 中再制造能力的不确定性。我们的结果表明,通过提供看跌期权合约并确定接近边际退款成本的期权价格,收集者不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润——分享成果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。本文旨在解决看跌期权合约的性能问题,以减轻 RSC 中再制造能力的不确定性。我们的结果表明,通过提供看跌期权合约并确定接近边际退款成本的期权价格,收集者不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润——分享成果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。本文旨在解决看跌期权合约的性能问题,以减轻 RSC 中再制造能力的不确定性。我们的结果表明,通过提供看跌期权合约并确定接近边际退款成本的期权价格,收集者不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润——分享成果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。收集商不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润分享结果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。收集商不仅可以激励再制造商增加其订单数量,而且双方还可以获得双赢的利润分享结果。此外,定制的看跌期权合约可以在再制造能力不确定的情况下实现帕累托改进的渠道协调。

更新日期:2021-04-09
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