Operational Hedging and Coordination in Prefabrication Construction Industry

Yue Zhai; George Q. Huang

doi:10.1016/j.promfg.2017.07.242

Operational Hedging and Coordination in Prefabrication Construction Industry

Yue Zhai, George Q. Huang

Research output: Journal article publication › Journal article › Academic research › peer-review

10 Citations (Scopus)

Abstract

We analyze the operational hedging and coordination problem in a prefabrication construction supply chain consisting of a building company (BC) and a prefab factory (PF). The interaction between two commonly used operational hedging methods is investigated. A mechanism for coordinating two independent entities (i.e. BC and PF) is developed. According to further numerical studies, we found that both parties get gets better-off and the system is less susceptible to a highly uncertain supply chain.

Original language	English
Pages (from-to)	1178-1183
Number of pages	6
Journal	Procedia Manufacturing
Volume	11
DOIs	https://doi.org/10.1016/j.promfg.2017.07.242
Publication status	Published - 2017
Externally published	Yes

Keywords

game theory
operational hedging
prefabrication construction
supply chain coordination
supply chain risk management

ASJC Scopus subject areas

Industrial and Manufacturing Engineering
Artificial Intelligence

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10.1016/j.promfg.2017.07.242

Cite this

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title = "Operational Hedging and Coordination in Prefabrication Construction Industry",

abstract = "We analyze the operational hedging and coordination problem in a prefabrication construction supply chain consisting of a building company (BC) and a prefab factory (PF). The interaction between two commonly used operational hedging methods is investigated. A mechanism for coordinating two independent entities (i.e. BC and PF) is developed. According to further numerical studies, we found that both parties get gets better-off and the system is less susceptible to a highly uncertain supply chain.",

keywords = "game theory, operational hedging, prefabrication construction, supply chain coordination, supply chain risk management",

author = "Yue Zhai and Huang, {George Q.}",

note = "Funding Information: Authors are grateful to Zhejiang Provincial, Hangzhou M unicipal, Lin{\textquoteright}an City gove rnments, ITF Innovation and Technology Support Programme (ITP/045/13LP), National Na tural Science Foundation of China (Grant No. 51405307, 61540030), Hong Kong University and Hong Kong Res earch Grants Council General Research Fund (HKU 712112E) and Project Funded by China Postdoctoral Science Foundation (2015M570720). Publisher Copyright: {\textcopyright} 2017 The Authors",

year = "2017",

doi = "10.1016/j.promfg.2017.07.242",

language = "English",

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journal = "Procedia Manufacturing",

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T1 - Operational Hedging and Coordination in Prefabrication Construction Industry

AU - Zhai, Yue

AU - Huang, George Q.

N1 - Funding Information: Authors are grateful to Zhejiang Provincial, Hangzhou M unicipal, Lin’an City gove rnments, ITF Innovation and Technology Support Programme (ITP/045/13LP), National Na tural Science Foundation of China (Grant No. 51405307, 61540030), Hong Kong University and Hong Kong Res earch Grants Council General Research Fund (HKU 712112E) and Project Funded by China Postdoctoral Science Foundation (2015M570720). Publisher Copyright: © 2017 The Authors

PY - 2017

Y1 - 2017

N2 - We analyze the operational hedging and coordination problem in a prefabrication construction supply chain consisting of a building company (BC) and a prefab factory (PF). The interaction between two commonly used operational hedging methods is investigated. A mechanism for coordinating two independent entities (i.e. BC and PF) is developed. According to further numerical studies, we found that both parties get gets better-off and the system is less susceptible to a highly uncertain supply chain.

AB - We analyze the operational hedging and coordination problem in a prefabrication construction supply chain consisting of a building company (BC) and a prefab factory (PF). The interaction between two commonly used operational hedging methods is investigated. A mechanism for coordinating two independent entities (i.e. BC and PF) is developed. According to further numerical studies, we found that both parties get gets better-off and the system is less susceptible to a highly uncertain supply chain.

KW - game theory

KW - operational hedging

KW - prefabrication construction

KW - supply chain coordination

KW - supply chain risk management

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DO - 10.1016/j.promfg.2017.07.242

M3 - Journal article

AN - SCOPUS:85029837437

SN - 2351-9789

VL - 11

SP - 1178

EP - 1183

JO - Procedia Manufacturing

JF - Procedia Manufacturing

ER -

Operational Hedging and Coordination in Prefabrication Construction Industry

Abstract

Keywords

ASJC Scopus subject areas

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