Supply Contracts with Quantity Commitments and Stochastic Demand

by
Ravi Anupindi and Yehuda Bassok

(Book Chapter in Quantitative Models for Supply Chain Management, S. Tayur, M. Magazine, and R. Ganeshan (Editors), Kluwer Academic Publishers, 1998.)

 **** Abstract ****

In this chapter we provide a general framework for the study of supply contracts. We argue that most of classical inventory theory can also be viewed as analyses of specific types of supply contracts. We motivate and present a large class of supply contracts with quantity commitments. We discuss quantity commitment contracts for single and multiple products with total minimum and periodical commitments. Finally, we explore channel coordination issues using supply contracts with periodical commitments and options.