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Review of supplier diversification and pricing strategies under random supply and demand

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  • Amirmohsen Golmohammadi
  • Elkafi Hassini

Abstract

Uncertainties of supply and demand are two major sources of risk in any supply chain. As a result, the companies are implementing different strategies to mitigate the effects of these risks. Supplier diversification and responsive pricing are two of the main strategies that are used to mitigate the supply and demand risks. In supplier diversification, a firm uses multiple channels of sourcing while in responsive pricing, a firm manipulates demand through pricing to mitigate supply and demand risks. In this paper, we review lot-sizing problems when supply and demand are random. We focus on studies that have considered supplier diversification or responsive pricing as a mitigation strategy. We classify the studies based on their main assumptions and summarise their major findings. Finally, we present some directions for future research. Part of what we have found is that most studies that use multiple decision makers have focused on cases where information is complete and non-cooperative. There is a need to consider more realistic situations when there is information asymmetry between the decision makers. In addition, we have found that there is a lack of studies that look at the impact of joint ordering and pricing in the existence of multiple suppliers.

Suggested Citation

  • Amirmohsen Golmohammadi & Elkafi Hassini, 2020. "Review of supplier diversification and pricing strategies under random supply and demand," International Journal of Production Research, Taylor & Francis Journals, vol. 58(11), pages 3455-3487, June.
    • Handle: RePEc:taf:tprsxx:v:58:y:2020:i:11:p:3455-3487
    DOI: 10.1080/00207543.2019.1705419
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    Cited by:

    1. Thevenin, Simon & Ben-Ammar, Oussama & Brahimi, Nadjib, 2022. "Robust optimization approaches for purchase planning with supplier selection under lead time uncertainty," European Journal of Operational Research, Elsevier, vol. 303(3), pages 1199-1215.
    2. Hasin Md. Muhtasim Taqi & Humaira Nafisa Ahmed & Sumit Paul & Maryam Garshasbi & Syed Mithun Ali & Golam Kabir & Sanjoy Kumar Paul, 2020. "Strategies to Manage the Impacts of the COVID-19 Pandemic in the Supply Chain: Implications for Improving Economic and Social Sustainability," Sustainability, MDPI, vol. 12(22), pages 1-25, November.
    3. Slama, Ilhem & Ben-Ammar, Oussama & Thevenin, Simon & Dolgui, Alexandre & Masmoudi, Faouzi, 2022. "Stochastic program for disassembly lot-sizing under uncertain component refurbishing lead times," European Journal of Operational Research, Elsevier, vol. 303(3), pages 1183-1198.
    4. Ajay Philip & Rahul R. Marathe, 2022. "A New Green Labeling Scheme for Agri-Food Supply Chains: Equilibrium and Information Sharing under Uncertainties," Sustainability, MDPI, vol. 14(23), pages 1-34, November.
    5. Gel, Esma S. & Salman, F. Sibel, 2022. "Dynamic ordering decisions with approximate learning of supply yield uncertainty," International Journal of Production Economics, Elsevier, vol. 243(C).

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