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• W2028424193 abstract "Procurement management is an important process in large-scale projects because large-scale projects heavily depend on building materials from suppliers. This paper develops a model of material procurement in large-scale projects using the quality of material as decision-making variable. The optimal contract specifying quality and price between the contractor and the supplier is given. In addition, we present analytical and computational results related to the equilibrium solution. We find that the lower the cost of the supplier, the higher the efficiency, thus the supplier will provide higher quality materials; the higher the risk parameter of the contractor, the higher the quality of material will be; the higher the supplier's cost, the higher the risk sensitivity of the contractor." @default.
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• W2028424193 date "2009-06-01" @default.
• W2028424193 modified "2023-09-26" @default.
• W2028424193 title "Optimal procurement contract between contractor and supplier in large-scale projects" @default.
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• W2028424193 doi "https://doi.org/10.1109/ccdc.2009.5192594" @default.
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