Purpose – The purpose of this paper is to present a generic framework to assess and simulate outsourcing risks in the supply chain. Design/methodology/approach – This combination approach involves a qualitative risk analysis methodology termed as the supply chain risk‐failure mode and...

Purpose – The purpose of this paper is to formulate procurement strategies and determine the optimal procurement quantity in order to maximize profit through forward contracting and the spot market. Design/methodology/approach – The procurement process is modeled at various stages along a...