Grant: Discovery Grants Program - Individual

Numerous academic research results have been obtained and a number of business solutions have been developed for supply chain management. However, all the research results and business solutions have not been implemented in business practice as much as we want. One key reason is that most existing models and solutions assume that agents (e.g., individuals and firms) are risk-neutral and adopt the objective of (expected) profit maximizing. However, in business practice, agents are oftentimes risk-averse and engage in target-based decision making. That is, they have performance measure targets to achieve and they adopt the satisficing objectives, i.e., they maximize the probabilities of achieving those targets. Further, agents oftentimes adopt multiple objectives based not only on profit but also on other performance measures such as revenue and market share. The long-term objective of my research is to develop models and solutions of supply chain management when the satisficing objectives or multiple objectives are involved. The potential research results will contribute to the development of both theories and practical business solutions. The near-term objective of my research is to build and analyze inventory and supply chain models involving competition, coordination and operations and marketing interface.