Managing procurement risk

Details Managing procurement risk Managing procurement risk

2002-10-03

2010-06-29

Rudy, Andrew Joseph (Department: 3687)

Data processing: generic control systems or specific application

Specific application, apparatus or process

Product assembly or manufacturing

C705S014270, C705S402000

Reexamination Certificate

active

07747339

ABSTRACT:
Systems and methods for managing procurement risk are described. In accordance with a procurement risk management method, a resource sourcing mix is computed from a sourcing portfolio of one or more forward contracts, spot market purchases, and inventory depletion for each period of a planning horizon based on forecast scenarios for resource demand, resource price, and resource availability and a specified inventory carrying policy for the resource. Based upon the computed resource sourcing mix, one or more metrics for evaluating the sourcing portfolio are computed. A system and a computer program implementing the above-described procurement risk management method also are described.

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