A framework for facilitating sourcing and allocation decisions for make-to-order items

A framework for facilitating sourcing and allocation decisions for make-to-order items

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Article ID: iaor2009293
Country: United States
Volume: 35
Issue: 4
Start Page Number: 609
End Page Number: 637
Publication Date: Oct 2005
Journal: Decision Sciences
Authors: , ,
Keywords: decision theory, heuristics
Abstract:

This paper provides a fundamental building block to facilitate sourcing and allocation decisions for make-to-order items. We specifically address the buyer's vendor selection problem for make-to-order items where the goal is to minimize sourcing and purchasing costs in the presence of fixed costs, shared capacity constraints, and volume-based discounts for bundles of items. The potential suppliers for make-to-order items provide quotes in the form of single sealed bids or participate in a dynamic auction involving open bids. A solution to our problem can be used to determine winning bids amongst the single sealed bids or winners at each stage of a dynamic auction.

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