{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,17]],"date-time":"2026-03-17T02:03:48Z","timestamp":1773713028054,"version":"3.50.1"},"reference-count":35,"publisher":"Springer Science and Business Media LLC","issue":"1-2","license":[{"start":{"date-parts":[[2015,3,26]],"date-time":"2015-03-26T00:00:00Z","timestamp":1427328000000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"}],"content-domain":{"domain":["link.springer.com"],"crossmark-restriction":false},"short-container-title":["Ann Oper Res"],"published-print":{"date-parts":[[2017,10]]},"DOI":"10.1007\/s10479-015-1838-0","type":"journal-article","created":{"date-parts":[[2015,3,25]],"date-time":"2015-03-25T15:36:59Z","timestamp":1427297819000},"page":"121-165","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":12,"title":["Joint procurement and demand-side bidding strategies under price volatility"],"prefix":"10.1007","volume":"257","author":[{"given":"Xiaofeng","family":"Nie","sequence":"first","affiliation":[]},{"given":"Tamer","family":"Boyac\u0131","sequence":"additional","affiliation":[]},{"given":"Mehmet","family":"G\u00fcm\u00fc\u015f","sequence":"additional","affiliation":[]},{"given":"Saibal","family":"Ray","sequence":"additional","affiliation":[]},{"given":"Dan","family":"Zhang","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2015,3,26]]},"reference":[{"key":"1838_CR1","first-page":"33","volume-title":"Supply chain management: Models, applications, and research directions","author":"R Akella","year":"2002","unstructured":"Akella, R., Araman, V. F., & Kleinknecht, J. (2002). B2B markets: Procurement and supplier risk management in e-business. In J. Geunes, P. M. Pardalos, & H. E. Romeijn (Eds.), Supply chain management: Models, applications, and research directions (pp. 33\u201366). Dordrecht: Kluwer Academic Publishers."},{"issue":"1","key":"1838_CR2","doi-asserted-by":"crossref","first-page":"109","DOI":"10.1287\/opre.1100.0862","volume":"59","author":"P Berling","year":"2011","unstructured":"Berling, P., & Mart\u00ednez de Alb\u00e9niz, V. (2011). Optimal inventory policies when purchase price and demand are stochastic. Operations Research, 59(1), 109\u2013124.","journal-title":"Operations Research"},{"key":"1838_CR3","volume-title":"Statistical inference for Markov processes","author":"P Billingsley","year":"1968","unstructured":"Billingsley, P. (1968). Statistical inference for Markov processes. Chicago: University of Chicago Press."},{"issue":"2","key":"1838_CR4","doi-asserted-by":"crossref","first-page":"147","DOI":"10.1080\/14697680802624948","volume":"9","author":"M Bladt","year":"2009","unstructured":"Bladt, M., & S\u00f8rensen, M. (2009). Efficient estimation of transition rates between credit ratings from observations at discrete time points. Quantitative Finance, 9(2), 147\u2013160.","journal-title":"Quantitative Finance"},{"issue":"8","key":"1838_CR5","first-page":"783","volume":"31","author":"MA Cohen","year":"1999","unstructured":"Cohen, M. A., & Agrawal, N. (1999). An analytical comparison of long and short term contracts. IIE Transactions, 31(8), 783\u2013796.","journal-title":"IIE Transactions"},{"key":"1838_CR6","unstructured":"Economist Intelligence Unit. (2009). Managing supply-chain risk for reward. Technical report, Economist Intelligence Unit."},{"issue":"1","key":"1838_CR7","doi-asserted-by":"crossref","first-page":"107","DOI":"10.1287\/opre.7.1.107","volume":"7","author":"T Fabian","year":"1959","unstructured":"Fabian, T., Fisher, J. L., Sasieni, M. W., & Yardeni, A. (1959). Purchasing raw material on a fluctuating market. Operations Research, 7(1), 107\u2013122.","journal-title":"Operations Research"},{"issue":"3","key":"1838_CR8","doi-asserted-by":"crossref","first-page":"454","DOI":"10.1287\/opre.47.3.454","volume":"47","author":"A Federgruen","year":"1999","unstructured":"Federgruen, A., & Heching, A. (1999). Combined pricing and inventory control under uncertainty. Operations Research, 47(3), 454\u2013475.","journal-title":"Operations Research"},{"issue":"11","key":"1838_CR9","doi-asserted-by":"crossref","first-page":"793","DOI":"10.1080\/07408171003670983","volume":"42","author":"Q Fu","year":"2010","unstructured":"Fu, Q., Lee, C. Y., & Teo, C. P. (2010). Procurement risk management using options: Random spot price and the portfolio effect. IIE Transactions, 42(11), 793\u2013811.","journal-title":"IIE Transactions"},{"issue":"4","key":"1838_CR10","doi-asserted-by":"crossref","first-page":"374","DOI":"10.1016\/j.orl.2003.11.003","volume":"32","author":"S Gavirneni","year":"2004","unstructured":"Gavirneni, S. (2004). Periodic review inventory control with fluctuating purchasing costs. Operations Research Letters, 32(4), 374\u2013379.","journal-title":"Operations Research Letters"},{"issue":"1","key":"1838_CR11","doi-asserted-by":"crossref","first-page":"128","DOI":"10.1287\/msom.1070.0201","volume":"11","author":"JP Gayon","year":"2009","unstructured":"Gayon, J. P., Benjaafar, S., & de Vericourt, F. (2009a). Using imperfect advance demand information in production\u2013inventory systems with multiple customer classes. Manufacturing and Service Operations Management, 11(1), 128\u2013143.","journal-title":"Manufacturing and Service Operations Management"},{"issue":"2","key":"1838_CR12","doi-asserted-by":"crossref","first-page":"205","DOI":"10.1017\/S026996480900014X","volume":"23","author":"JP Gayon","year":"2009","unstructured":"Gayon, J. P., Talay-De\u011firmenci, I., Karaesmen, F., & \u00d6rmeci, E. (2009b). Optimal pricing and production policies of a make-to-stock system with fluctuating demand. Probability in the Engineering and Informational Sciences, 23(2), 205\u2013230.","journal-title":"Probability in the Engineering and Informational Sciences"},{"key":"1838_CR13","unstructured":"Goel, A., & Gutierrez, G. (2007). Integrating commodity markets in the optimal procurement policies of a stochastic inventory system. Technical report, University of Texas-Austin."},{"issue":"3","key":"1838_CR14","doi-asserted-by":"crossref","first-page":"575","DOI":"10.1287\/opre.33.3.575","volume":"33","author":"K Golabi","year":"1985","unstructured":"Golabi, K. (1985). Optimal inventory policies when ordering prices are random. Operations Research, 33(3), 575\u2013588.","journal-title":"Operations Research"},{"issue":"9","key":"1838_CR15","doi-asserted-by":"crossref","first-page":"1694","DOI":"10.1287\/mnsc.1110.1511","volume":"58","author":"M G\u00fcm\u00fc\u015f","year":"2012","unstructured":"G\u00fcm\u00fc\u015f, M., Ray, S., & Gurnani, H. (2012). Supply-side story: Risks, guarantees, competition, and information asymmetry. Management Science, 58(9), 1694\u20131714.","journal-title":"Management Science"},{"issue":"1","key":"1838_CR16","doi-asserted-by":"crossref","first-page":"109","DOI":"10.1007\/s00186-010-0336-z","volume":"73","author":"X Guo","year":"2011","unstructured":"Guo, X., Kaminsky, P., Tomecek, P., & Yuen, M. (2011). Optimal spot market inventory strategies in the presence of cost and price risk. Mathematical Methods of Operations Research, 73(1), 109\u2013137.","journal-title":"Mathematical Methods of Operations Research"},{"key":"1838_CR17","doi-asserted-by":"crossref","DOI":"10.1007\/978-1-4899-4449-8","volume-title":"Stochastic modeling of scientific data","author":"P Guttorp","year":"1995","unstructured":"Guttorp, P. (1995). Stochastic modeling of scientific data. London: Chapman & Hall."},{"issue":"8","key":"1838_CR18","doi-asserted-by":"crossref","first-page":"1093","DOI":"10.1287\/mnsc.43.8.1093","volume":"43","author":"AY Ha","year":"1997","unstructured":"Ha, A. Y. (1997). Inventory rationing in a make-to-stock production system with several demand classes and lost sales. Management Science, 43(8), 1093\u20131103.","journal-title":"Management Science"},{"issue":"11","key":"1838_CR19","doi-asserted-by":"crossref","first-page":"1412","DOI":"10.1057\/palgrave.jors.2602401","volume":"58","author":"\u00c7 Haks\u00f6z","year":"2007","unstructured":"Haks\u00f6z, \u00c7., & Seshadri, S. (2007). Supply chain operations in the presence of a spot market: A review with discussion. Journal of the Operational Research Society, 58(11), 1412\u20131429.","journal-title":"Journal of the Operational Research Society"},{"issue":"6","key":"1838_CR20","doi-asserted-by":"crossref","first-page":"1434","DOI":"10.1287\/opre.19.6.1434","volume":"19","author":"BA Kalymon","year":"1971","unstructured":"Kalymon, B. A. (1971). Stochastic prices in a single-item inventory purchasing model. Operations Research, 19(6), 1434\u20131458.","journal-title":"Operations Research"},{"issue":"3","key":"1838_CR21","doi-asserted-by":"crossref","first-page":"358","DOI":"10.1016\/0377-2217(86)90000-7","volume":"25","author":"BG Kingsman","year":"1986","unstructured":"Kingsman, B. G. (1986). Purchasing raw materials with uncertain fluctuating prices. European Journal of Operational Research, 25(3), 358\u2013372.","journal-title":"European Journal of Operational Research"},{"issue":"4","key":"1838_CR22","doi-asserted-by":"crossref","first-page":"687","DOI":"10.1287\/opre.23.4.687","volume":"23","author":"SA Lippman","year":"1975","unstructured":"Lippman, S. A. (1975). Applying a new device in the optimization of exponential queuing systems. Operations Research, 23(4), 687\u2013710.","journal-title":"Operations Research"},{"issue":"1","key":"1838_CR23","doi-asserted-by":"crossref","first-page":"90","DOI":"10.1111\/j.1937-5956.2005.tb00012.x","volume":"14","author":"V Mart\u00ednez de Alb\u00e9niz","year":"2005","unstructured":"Mart\u00ednez de Alb\u00e9niz, V., & Simchi-Levi, D. (2005). A portfolio approach to procurement contracts. Production and Operations Management, 14(1), 90\u2013114.","journal-title":"Production and Operations Management"},{"key":"1838_CR24","unstructured":"O\u2019Marah, K. (2009). Supply chain risk: Kanban won\u2019t cut it. Technical report, AMR Research."},{"issue":"1","key":"1838_CR25","doi-asserted-by":"crossref","first-page":"123","DOI":"10.1023\/A:1018937420735","volume":"91","author":"S \u00d6zekici","year":"1999","unstructured":"\u00d6zekici, S., & Parlar, M. (1999). Inventory models with unreliable suppliers in a random environment. Annals of Operations Research, 91(1), 123\u2013136.","journal-title":"Annals of Operations Research"},{"issue":"3","key":"1838_CR26","doi-asserted-by":"crossref","first-page":"419","DOI":"10.1007\/BF00934355","volume":"36","author":"E Porteus","year":"1982","unstructured":"Porteus, E. (1982). Conditions for characterizing the structure of optimal strategies in infinite-horizon dynamic programs. Journal of Optimization Theory and Applications, 36(3), 419\u2013432.","journal-title":"Journal of Optimization Theory and Applications"},{"key":"1838_CR27","doi-asserted-by":"crossref","DOI":"10.1515\/9781503619883","volume-title":"Foundations of stochastic inventory theory","author":"EL Porteus","year":"2002","unstructured":"Porteus, E. L. (2002). Foundations of stochastic inventory theory. Stanford: Stanford University Press."},{"key":"1838_CR28","doi-asserted-by":"crossref","DOI":"10.1002\/9780470316887","volume-title":"Markov decision processes: Discrete stochastic dynamic programming","author":"ML Puterman","year":"1994","unstructured":"Puterman, M. L. (1994). Markov decision processes: Discrete stochastic dynamic programming. New York: Wiley."},{"key":"1838_CR29","volume-title":"An introduction to mathematical finance: Options and other topics","author":"SM Ross","year":"1999","unstructured":"Ross, S. M. (1999). An introduction to mathematical finance: Options and other topics. New York: Cambridge University Press."},{"issue":"3","key":"1838_CR30","doi-asserted-by":"crossref","first-page":"923","DOI":"10.1111\/j.1540-6261.1997.tb02721.x","volume":"52","author":"ES Schwartz","year":"1997","unstructured":"Schwartz, E. S. (1997). The stochastic behavior of commodity prices: Implications for valuation and hedging. Journal of Finance, 52(3), 923\u2013973.","journal-title":"Journal of Finance"},{"issue":"3","key":"1838_CR31","doi-asserted-by":"crossref","first-page":"781","DOI":"10.1016\/S0377-2217(02)00754-3","volume":"152","author":"RW Seifert","year":"2004","unstructured":"Seifert, R. W., Thonemann, U. W., & Hausman, W. H. (2004). Optimal procurement strategies for online spot markets. European Journal of Operational Research, 152(3), 781\u2013799.","journal-title":"European Journal of Operational Research"},{"issue":"2","key":"1838_CR32","doi-asserted-by":"crossref","first-page":"451","DOI":"10.1016\/j.ijpe.2005.12.006","volume":"103","author":"CS Tang","year":"2006","unstructured":"Tang, C. S. (2006). Perspectives in supply chain risk management. International Journal of Production Economics, 103(2), 451\u2013488.","journal-title":"International Journal of Production Economics"},{"issue":"4","key":"1838_CR33","doi-asserted-by":"crossref","first-page":"243","DOI":"10.1561\/0200000012","volume":"2","author":"AJ Vakharia","year":"2009","unstructured":"Vakharia, A. J., & Yenipazarl\u0131, A. (2009). Managing supply chain disruptions. Foundations and Trends in Technology, Information and Operations Management, 2(4), 243\u2013325.","journal-title":"Foundations and Trends in Technology, Information and Operations Management"},{"issue":"1","key":"1838_CR34","doi-asserted-by":"crossref","first-page":"153","DOI":"10.1016\/S0377-2217(00)00189-2","volume":"133","author":"Y Wang","year":"2001","unstructured":"Wang, Y. (2001). The optimality of myopic stocking policies for systems with decreasing purchasing prices. European Journal of Operational Research, 133(1), 153\u2013159.","journal-title":"European Journal of Operational Research"},{"issue":"2","key":"1838_CR35","doi-asserted-by":"crossref","first-page":"212","DOI":"10.1111\/j.1937-5956.2009.01010.x","volume":"18","author":"J Yang","year":"2009","unstructured":"Yang, J., & Xia, Y. (2009). Acquisition management under fluctuating raw material prices. Production and Operations Management, 18(2), 212\u2013225.","journal-title":"Production and Operations Management"}],"container-title":["Annals of Operations Research"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/link.springer.com\/article\/10.1007\/s10479-015-1838-0\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s10479-015-1838-0.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s10479-015-1838-0","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s10479-015-1838-0.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2022,5,3]],"date-time":"2022-05-03T21:21:47Z","timestamp":1651612907000},"score":1,"resource":{"primary":{"URL":"http:\/\/link.springer.com\/10.1007\/s10479-015-1838-0"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2015,3,26]]},"references-count":35,"journal-issue":{"issue":"1-2","published-print":{"date-parts":[[2017,10]]}},"alternative-id":["1838"],"URL":"https:\/\/doi.org\/10.1007\/s10479-015-1838-0","relation":{},"ISSN":["0254-5330","1572-9338"],"issn-type":[{"value":"0254-5330","type":"print"},{"value":"1572-9338","type":"electronic"}],"subject":[],"published":{"date-parts":[[2015,3,26]]}}}