Long Term Agreement In Procurement – Tuyuri Karin

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Long Term Agreement In Procurement

2020年12月12日

We compared the expected benefits for different strategies to illustrate the impact of the two long-term contracts in the presence of the B2B spot market. The B2B spot market has grown rapidly and has become an efficient trading channel for commodities. In addition to the long-term purchase of conventional suppliers (forward and option), a buyer can purchase or sell products at any time in the B2B spot market in order to adjust his stock. However, spot prices are generally volatile and the market is imperfect in the sense that spot trading can be carried out with uncertainty for a certain period of time and often involves additional transaction costs. This document takes into account a commodity buyer who can order futures and options in advance and trade in a B2B spot market when the spot price and demand are observed stochastically. Based on a one-year newsvendor model, we discuss three optimal ordering strategies and realize the expected benefits if the buyer is risk neutral. The sensitivity of the acquisition cost, market liquidity and transaction costs is assessed. We also compare the best expected benefits for different strategies to illustrate the impact of the two long-term contracts in the presence of the B2B spot market. We then expand our model to a multi-year environment and deduce the optimal strategy.

Finally, we numerically calculate the optimal ordering strategy for a risk-averse buyer and analyze the impact of the spot market, risk aversion and the correlation between customer demand and spot price. Recent needs assessments, mapping exercises, analysis of purchases made and feedback on field missions show a trend towards higher technological solutions. B for example, with the Optical Mark Reader (OMR) methodology or the introduction of biometric digital voter registration solutions. In the immediate future, the focus will therefore be on extending the scope of procurement instruments such as pre-qualification lists, etc., to include higher-tech products, higher production complexity and higher security requirements. Long-term agreements (LTAs) are framework agreements that are maintained with one or more suppliers for a good, service or group of them for a generally maximum period of 3 years. The objective of long-term agreements (LTA) is, among other things: our analysis highlights the economic impact of the imperfect spot market on long-term contracts. In addition to the long-term purchase of conventional suppliers (forward and option), a buyer can purchase or sell products at any time in the B2B spot market in order to adjust his inventory.

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