Commodity Procurement with Operational and Financial Instruments

1. 1Motivation Increasingglobalcompetitionandcostpressureforceenterprisesandsupplychains to discover undetected cost-saving potentials. In particular, interfaces to the p- curement market are a promising field for improvement. Recent developments in international trade outline the high influence of uncertain deliveries and highly volatile prices on the companies’ costs. A vital question in research, industry, and politics addresses theoptimal procurement policy of rawmaterialsdue touncertai...