Procurement Strategies to Improve Quality Consistency in Wheat Shipments

Autor:	William W. Wilson, Bruce L. Dahl
Jazyk:	angličtina
Rok vydání:	2008
Předmět:	buying strategies costs functional characteristic tests location risks simulation stochastic efficiency variety Agriculture
Zdroj:	Journal of Agricultural and Resource Economics, Vol 33, Iss 1, Pp 69-86 (2008)
Druh dokumentu:	article
ISSN:	1068-5502 2327-8285
DOI:	10.22004/ag.econ.36708
Popis:	Consistency of functional characteristics in wheat is a concern confronting buyers and sellers. This research analyzes the cost and risk of different procurement strategies for importers. A stochastic simulation model is used to determine the probability of functional characteristics being satisfied subject to quality targets and costs for alternative purchase strategies. Stochastic efficiency was employed to identify purchase strategies that dominate others and to determine the extent of preference. As more specific characteristics are incorporated into a contract, results indicate that the probabilities of meeting end-use requirements increase
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/86e2b647068d49c7bf68e6444ff46564 Zobrazit plný text záznamu View record in DOAJ