Topic: Optimal Contract for Product Development with Risk Consideration

Speaker: Guoqing Zhang

Location: Room 306, Glorious Sun Building, Yan'an Road Campus

Time: 2019-12-05 15:00:00

Brief introduction of the speaker: Dr. Guoqing Zhang is a Professor in the Department of Mechanical, Automotive & Materials Engineering, University of Windsor, and the director of Supply Chain and Logistics Optimization Research Center. His recent research interests include supply chain management & logistics, optimization, algorithms design, data analysis, and intelligent manufacturing and support systems. He has published over 50 articles on those areas in journals such as Operations Research, IIE, Omega, EJOR, TRB, TRE, IJPE, and so on. Dr. Zhang provides consulting service to several world leading companies on Automotive, Energy, Airline, and Foods industries. He and his team won the first place in the Canadian Operations Research Society’s (CORS) Practice Prize competition in 2015. He serves on editorial boards of several international Journals, and is the lead guest editor of special issues of IJPE and AOR. 

Report Overview: When developing an innovative ornew product, there is often considerable uncertainty about demands and costs.The uncertainty has significant impacts on the capacity decision of both the manufacturers and its suppliers. Motivated by a real-world case in automotive industry, this study investigates and design a supply contract when developing a new product in order to reduce the risks and maximize their profits under uncertainty demands. Some numerical examples and insights arepresented.