NDLI: Delivery time contract design of fourth party logistics under asymmetric information

Content Provider	IEEE Xplore Digital Library
Author	Tu Jun Huang Min
Copyright Year	2013
Description	Author affiliation: Coll. of Inf. Sci. & Eng., Northeastern Univ., Shenyang, China (Tu Jun; Huang Min)
Abstract	Fourth party logistics is an integrated logistics service supplier, bringing together the demand of logistics client and supply of third party logistics, and is responsible for client's logistics activities. It is necessary for fourth party logistics to manage the risks in third party logistics' delivery process, such as delivery time delay. This paper studies delivery time risk management from contract design perspective. Based on principal-agent theory, we propose mathematical models and derive optimal contract parameters for fourth party logistics and optimal effort level for third party logistics. The contract can induce the third party logistics to exert optimal effort level in fourth party logistics' interest. Considering the third party logistics' private cost information, we investigate two type contracts design under asymmetric information. The result shows that the asymmetric cost information always benefits third party logistics, and the fourth party logistics needs to pay information rent. We also discuss the applicability of these two contracts. Numerical experiments are conducted to study the influence of two contracts on the expected profit of fourth party logistics and third party logistics.
Sponsorship	IEEE Control Syst. Soc.
Starting Page	1229
Ending Page	1233
File Size	222150
Page Count	5
File Format	PDF
ISBN	9781467355339
e-ISBN	9781467355346
DOI	10.1109/CCDC.2013.6561112
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-05-25
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Integrated circuits Asymmetric information Fourth party logistics Contract design Delivery time Supply chains Educational institutions Outsourcing Risk management Contracts
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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