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Supply chain operations in the presence of a spot market: a review with discussion

Author

Listed:
  • Ç Haksöz

    (City University of London)

  • S Seshadri

    (New York University)

Abstract

We survey the recent literature on the use of spot market operations to manage procurement in supply chains. We present results in two categories: work that deals with optimal procurement strategies and work related to the valuation of procurement contracts. As an example of the latter, we provide new results on valuation of a supply contract with abandonment option. Based on our review, we also discuss the scope for doing further work.

Suggested Citation

  • Ç Haksöz & S Seshadri, 2007. "Supply chain operations in the presence of a spot market: a review with discussion," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 58(11), pages 1412-1429, November.
    • Handle: RePEc:pal:jorsoc:v:58:y:2007:i:11:d:10.1057_palgrave.jors.2602401
    DOI: 10.1057/palgrave.jors.2602401
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