Prof. Gerald Reiner

October 05, 2007, 14:15, Room GC B3 424 (click here for the map)

Procurement with fluctuating prices under consideration of alternative transport modes

We develop a procurement model and the framework for performance evaluation for products with fluctuating prices by explicitly considering the transport process. The main decision for each time period under consideration of the selected contract type is the "ideal" procurement quantity. The main constraints are related to speculative inventories and alternative modes of transport. The performance of different procurement strategies is illustrated for a real supply process in the chemical industry by using process simulation.

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