Conflicts in Supply Chains and Contracts that Restore Efficiency
Professor Suresh P. Sethi
Eugene McDermott Professor of Operations Management
University of Texas, Dallas, USA
Conflicting self-interests of the members in a supply chain leads to inefficient performance as each member optimizes primarily his/her own objectives. However, contracts, such as a buyback contract, can be designed to restore efficiency.
For multi-period supply chains, complexities such as different possible equilibrium solutions, time inconsistency, and erosion of first-mover advantage will be discussed. A case of dynamic pricing in a supply chain with production cost learning will be presented.
Brief Biography of the Speaker:
Suresh P. Sethi is Eugene McDermott Professor of Operations Management and Director of the Center for Intelligent Supply Networks at The University of Texas at Dallas. He has written 7 books and published over 400 research papers in the fields of manufacturing and operations management, finance and economics, marketing, and optimization theory. He teaches a course on optimal control theory/applications and organizes a seminar series on operations management topics. He initiated and developed the doctoral programs in operations management at both University of Texas at Dallas and University of Toronto. He serves on the editorial boards of several journals including Production and Operations Management and SIAM Journal on Control and Optimization. He was named a Fellow of The Royal Society of Canada in 1994. Two conferences were organized and two books edited in his honor in 2005-6. Other honors include: IEEE Fellow (2001), INFORMS Fellow (2003), AAAS Fellow (2003), POMS Fellow (2005), IITB Distinguished Alum (2008), SIAM Fellow (2009), POMS President (2012), INFORMS Fellows Selection Committee (2014-16), Alumni Achievement Award, Tepper School of Business, Carnegie Mellon University (2015).