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And Venuetastic essentially automates the booking process, and coordinates contract signing, and payments.
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To achieve the coordination, we propose an innovative coordinating contract mechanism, which contains the trading quantity, the transfer payments, and the profit allocation rules.
For the coordinating contract types, Pull-ORS and PEN, it furthermore turns out that coordination is always coupled with a buyer's order at demand level.
Along this line, a coordinating contract based on an option mechanism is used as the supply contract.
We find that the private information of risk aversion degree doesn't affect the supply chain performance under the coordinating contract.
We find that coordinating contract design is not significantly influenced by the number of the retailer׳s decisions or demand function formats, but by the decision structure.
Apart from providing a coordinating contract, we also provide qualitative insights based on a numerical illustration of centralized and decentralized solutions.
With this coordinating contract, the manufacturer and the retailer announce their true private information and maximize their expected individual profit as well as the supply chain's profit.
Can the manufacturer induce the retailer to share her superior knowledge by informing the retailer that he will be using sophisticated channel-coordinating contract formats?
For each family we find the necessary conditions and/or the sufficient conditions for the existence of a coordinating contract, as well as the minimum number of parameters required for a contract in that family.
A key finding of this literature is that members' preferences for contractual forms are often at odds: the upstream supplier prefers relatively complex contracts that can coordinate the supply chain; however, the downstream retailer prefers a wholesale price-only contract because it leaves more surplus (than does a coordinating contract), which the retailer can capture.
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CEO of Professional Science Editing for Scientists @ prosciediting.com