Research on games theory-based procurement strategy selection for forging enterprise

Author

Baiqing, Zhu ; Tengliang, Xu ; Dongbo, Li

Author_Institution

Sch. of Econ. & Manage., Nanjing Inst. of Technol., Nanjing, China

fYear

2011

fDate

15-17 April 2011

Firstpage

3510

Lastpage

3513

Abstract

Game theory is applied to assist forging enterprise in procurement strategy selection. A static games model of imperfect information between forging enterprise and materials suppliers under co-competition strategy is presented and the optimal procurement strategy of materials under influence of different belief is obtained. Also, after analyzing the gaming results, forging enterprise is proposed to remain certain level stock, to keep a good symbiosis with monopolistic suppliers and to improve the decision-makers´ diathesis in order to make the gaming results in favor of forging enterprise.

Keywords

decision making; game theory; monopoly; procurement; co-competition strategy; decision maker diathesis; forging enterprise; materials suppliers; monopolistic suppliers; procurement strategy selection; static games model; Cognitive radio; Educational institutions; Games; Materials; Medical services; Procurement; games theory; management; procurement; static games model of imperfect information; strategy;

fLanguage

English

Publisher

ieee

Conference_Titel

Electric Information and Control Engineering (ICEICE), 2011 International Conference on

Conference_Location

Wuhan

Print_ISBN

978-1-4244-8036-4

Type

conf

DOI

10.1109/ICEICE.2011.5777233

Filename

5777233