000023498 001__ 23498
000023498 005__ 20170824095828.0
000023498 037__ $$a1187-2016-93753
000023498 041__ $$aen
000023498 245__ $$aPROCUREMENT RISKS AND STRATEGIES TO IMPROVE QUALITY CONSISTENCY IN WHEAT SHIPMENTS
000023498 260__ $$c2007
000023498 269__ $$a2007
000023498 270__ $$mWilliam.Wilson@ndsu.edu$$pWilson,   William W.
000023498 270__ $$mBruce.Dahl@ndsu.edu$$pDahl,   Bruce L.
000023498 300__ $$a40
000023498 336__ $$aReport
000023498 446__ $$aEnglish
000023498 490__ $$aAgribusiness & Applied Economics Report No. 595
000023498 520__ $$aConsistency of functional characteristics in wheat is a concern confronting buyers and sellers.  This research analyzes the cost and risk of different procurement strategies for importers.  A stochastic simulation model is used to determine the  probability of a functional characteristic being satisfied subject to quality targets and costs for alternative purchase strategies (purchase by protein only, variety, location, variety by location, or functional tests).  Joint probabilities of meeting specifications and costs were determined for the alternative purchase strategies.  Stochastic dominance was used to determine which purchase strategies dominate others, and stochastic efficiency was utilized to determine the degree of preference.  Results indicate that, as more specific characteristics are incorporated into a contract, the probabilities of meeting end-use requirements increase.  Requirements of specific characteristics come with a higher cost, due to increased testing costs related to identity preservation.  Risk premiums for alternative strategies were derived.
000023498 650__ $$aCrop Production/Industries
000023498 650__ $$aRisk and Uncertainty
000023498 6531_ $$aBuying Strategies
000023498 6531_ $$aLocation
000023498 6531_ $$aVariety
000023498 6531_ $$aFunctional Characteristic Tests
000023498 6531_ $$aCosts
000023498 6531_ $$aRisks
000023498 6531_ $$aSimulation
000023498 6531_ $$aStochastic Dominance
000023498 700__ $$aWilson, William W.
000023498 700__ $$aDahl, Bruce L.
000023498 8564_ $$s649634$$uhttp://ageconsearch.umn.edu/record/23498/files/aer595.pdf
000023498 887__ $$ahttp://purl.umn.edu/23498
000023498 909CO $$ooai:ageconsearch.umn.edu:23498$$qGLOBAL_SET
000023498 912__ $$nMade available in DSpace on 2007-03-07T20:26:34Z (GMT). No. of bitstreams: 1
aer595.pdf: 649634 bytes, checksum: ba34d7d18b5a7243cb898f67d308c62b (MD5)
  Previous issue date: 2007
000023498 982__ $$gNorth Dakota State University>Department of Agribusiness and Applied Economics>Agribusiness & Applied Economics Report
000023498 980__ $$a1187