SGER: Pricing and Managing Risks in Global Manufacturing Enterprise

该奖项的研究目标是开发制造商的有效管理模型？的需求风险，并明确定价的风险，供应商在加入一个全球性的制造企业。 目前，制造商和供应商之间的合同中隐含了这种风险。 在本研究中，金融工程的概念，如公平定价和实物期权将严格适用于有效定价的风险在制造领域。研究的重点是这些模型所面临的全球制造企业的现实情况的适用性。因此，这些模型将包括库存和交货期过程及其对这些风险的影响。 如果成功的话，这项研究将促进我们对如何创建一个企业来明确管理风险的理解，并将为支付给供应商的补偿提供科学依据。研究结果将使参与全球企业的制造商和供应商受益。两者之间的这种关系增加了双方充分管理风险和在缩短周转时间的情况下降低成本的压力。明确的风险定价将为美国制造业带来好处，而不仅仅是通过库存控制和产能利用率来逐步改善运营风险管理所带来的好处。这些概念和结果将通过各种出版物传播，并将纳入密歇根大学工业和运营工程，金融工程和机械工程的研究生课程。学生将接触到多学科的研究和开发作为这个奖项的结果。

The research objective of this award is to develop models for effective management of the manufacturer?s demand risks, and explicitly price the risks the supplier takes in joining a global manufacturing enterprise. Currently, such risks are implicitly included in the contracts between the manufacturer and the supplier. In this research, financial engineering concepts, such as fair pricing and real-options will be rigorously applied to effectively price the risks in the area of manufacturing. The research focus is on the applicability of these models to realistic situations faced by a global manufacturing enterprise. Thus, the models will include inventory and lead time processes and their effects on these risks. Deliverables include documentation of the models, documentation and verification of research results and involvement in engineering education.If successful, this research will advance our understanding of how an enterprise should be created to explicitly manage risks and will provide a scientific basis for the compensation paid to supplier. The research results will benefit manufacturers and suppliers involved in a global enterprise. This relationship between the two is increasing the pressure on both to manage risks adequately and reduce costs with shorter turn-around times. Explicit pricing of risks will provide benefits to the US manufacturing industry beyond benefits realized by incremental improvement of the management of operational risks using inventory control and capacity utilization. The concepts and results will be disseminated through various publications and will be included in the graduate courses in Industrial and Operations Engineering, Financial Engineering and Mechanical Engineering at the University of Michigan. Students will be exposed to multidisciplinary research and development as a result of this award.