Global supply chain performance and risk optimization : the value of real options flexibility demonstrated in the global automotive industry
著者
書誌事項
Global supply chain performance and risk optimization : the value of real options flexibility demonstrated in the global automotive industry
（Gabler Edition Wissenschaft）
Deutsche Universitäts-Verlag, 2002
1. Aufl
- タイトル別名
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Global supply chain optimization
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注記
Includes bibliographical references (p. [175]-183) and index
内容説明・目次
内容説明
Rob Smith quantifies the financial value of Real Options in the form of operational and managerial flexibility in the real-life world of the global automotive industry using an existing, operational supply chain specifically designed to support world car vehicle platform production.
目次
1 Introduction.- 1.1 Motivation.- 1.2 Problem descriptions.- 1.2.1 Supply chain design challenges.- 1.2.2 Winning strategies make money.- 1.3 Roadmap.- 2 Literature review - basic theories and key contributions.- 2.1 Foreign exchange theory.- 2.1.1 Determination of exchange rates.- 2.1.2 Nominal versus real foreign exchange rates.- 2.1.3 Parity conditions in international finance and currency forecasting.- 2.1.3.1 Purchasing Power Parity (PPP).- 2.1.3.2 Fisher Effect (FE).- 2.1.3.3 International Fisher Effect (IFE).- 2.1.3.4 Interest Rate Parity (IRP).- 2.1.3.5 Forward rates as Unbiased predictors of Future spot Rates (UFR).- 2.1.4 Foreign Exchange Rates Modeling and Forecasting - Departures from parity.- 2.1.5 Lessard and Lightstone [1986].- 2.2 Foreign exchange risk management theory.- 2.2.1 Accounting exposure measurement and management.- 2.2.2 Economic exposure measurement and management.- 2.2.2.1 Transaction exposure and hedging techniques.- 2.2.2.2 Operating exposure.- 2.2.2.3 Currency of denomination versus currency of determination.- 2.2.2.4 Time.- 2.2.3 Coppe, Graham and Koller [1996].- 2.2.4 Luehrman [1997].- 2.2.5 The benefits and appropriate utilization of financial hedging.- 2.3 Real Options.- 2.3.1 Copeland, Koller, and Murrin [1995], Trigeorgis [1999] and Huchzermeier and Loch [2001].- 2.3.2 Leslie and Michaels [1998].- 2.3.2.1 Net Present Value versus Real Options Value, worked example.- 2.4 Global supply chain management.- 2.4.1 Example of a network model, DANTZIG [1963].- 2.4.1.1 Mathematical network model formulation.- 2.4.1.2 GAMS formulation of same DANTZIG (1963) network model.- 2.4.2 Kogut [1985].- 2.4.3 Cohen and Lee [1989].- 2.4.4 Kogut and Kulatilaka [1994A and 1994B].- 2.4.5 Arntzen, Brown, Harrison, and Trafton [1995].- 2.4.6 Huchzermeier [1991].- 2.4.7 Huchzermeier and Cohen [1996].- 2.4.8 Kouvelis and Sinha [1995] and Sinha [1996].- 2.4.9 Kouvelis [1996].- 2.4.10 Cohen and Mallik [1997].- 2.4.11 Dasu and Li [1997].- 2.4.12 Cohen And Huchzermeier [1998], and Huchzermeier [1999, 2000A and 2001].- 2.5 Recap of real option research and applications to date.- 2.5.1 Reuer and Leiblein [2000].- 3 Getting to Global - Building a Global supply chain Network Model.- 3.1 The GLBNET supply chain network structure.- 3.2 The process-based business case.- 3.3 The GLBNET Model description and formulation.- 3.3.1 Executive Summary of the GLBNET Model.- 3.3.2 The GLBNET Model GAMS Formulation.- 3.3.3 Excerpt from the GLBNET Executive Summary.- 3.3.4 The Optimization Solver - CPLEX 6.0.- 3.4 Introducing Foreign Exchange uncertainty into the GLBNET Model.- 3.5 Real Options Evaluation Methodology.- 4 The cost and value of Real Options Flexibility.- 4.1 Real Options add flexibility to the GLBNET supply chain.- 4.1.1 The Net Present Value Supply Chain.- 4.1.2 The Fully Flexible Real Options Supply Chain.- 4.1.3 A Realistic Real Options Supply Chain.- 4.2 Financial Performance - Flexibility makes money.- 4.2.1 The Base Case - Scenario 0.- 4.2.2 The Net Present Value Supply Chain - Model Runs 1-16.- 4.2.3 The Fully Flexible Real Options Supply Chain - Model Runs 17-32.- 4.2.4 The Realistic Real Options Supply Chain - Model Runs 17r - 32r.- 4.2.5 The Extrapolated Value of Real Options in the GLBNET supply chain.- 4.3 Real Options is the most profitable supply chain strategy.- 4.3.1 Modeling methodology detail and results interpretation for the Realistic Real Options versus alternative strategies.- 4.4 The Face of Flexibility - Value Added and Material Spend allocations under different FX scenarios.- 5 A Real Options Action Plan.- 5.1 Are Real Options appropriate for my supply chain?.- 5.2 Real Options Action Plan.- 5.2.1 Seize a first opportunity for Real Options.- 5.2.2 Structure the company's organization to maximize Real Options.- 5.2.2.1 Appoint one executive responsible for both manufacturing and sourcing.- 5.2.2.2 Give the change agent worldwide responsibility.- 5.2.2.3 Establish a Real Options Operations (ROpOps) Team.- 5.2.3 Structure the company's business and manufacturing processes for Real Options.- 5.2.3.1 Engineer lean, linear-labor manufacturing processes.- 5.2.3.2 Structure supplier development policies and contracts for Real Options.- 5.2.3.3 Structure Customer Quotations and Contracts for Real Options.- 5.3 Focus on the engine for continuous improvement - flexibility.- 6 Areas for further research.- 6.1 Contributions of this work.- 6.2 Suggestions for further research.- 6.2.1 Real Options Implementation Survey.- 6.2.2 Optimal duration of production period.- 6.2.3 Set-up time and switching costs.- 6.2.4 Process or expert system for exercising managerial options.- 6.2.5 Design for Foreign Exchange Rate Fluctuation (DFX).- 6.2.6 Five-currency Lattice Tree Model for use with the GLBNET Model and Solver.- 6.2.7 Include demand risk uncertainty in the GLBNET Model.- 6.2.8 Optimal combination of Currency Options and Real Options.- 6.3 Outlook.- References.- Appendices.- GLBNET Model GAMS formulation.- Mathematical formulation of the GLBNET Model.- Example Executive Summary Report.- Example Executive Sourcing Report.- Example GLBNET Log File.
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