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Many researchers have studied manufacturing flexibility, but supply chain flexibility is still an under‐investigated area. This paper aims to focus on supply flexibility, the aspects of flexibility related to the upstream supply chain. Its purpose is to investigate why and how firms increase supply flexibility.

An exploratory multiple case study was conducted. Seven Spanish manufacturers from various sectors (automotive, apparel, electronics and electrical equipment) were analysed.

The results show that firms need supply flexibility for a number of important reasons (manufacturing schedule fluctuations, JIT purchasing, manufacturer slack capacity, low level of parts commonality, demand volatility, demand seasonality and forecast accuracy), and that companies increase this type of flexibility by implementing two main strategies: “improved supplier responsiveness” and “flexible sourcing”. The results also suggest that the supply flexibility strategy selected depends on the type of uncertainty (mix, volume or delivery).

This paper has the limitations common to all case studies, such as the subjectivity of the analysis, and the questionable generality of the results. Moreover, there may be some sort of country bias because only Spanish firms have been analysed.

The study contributes to the existing literature by empirically investigating the main reasons for companies needing to increase supply flexibility and how they increase this flexibility, and suggesting some factors that could influence the selection of a particular supply flexibility strategy.

“Concurrent sourcing” is a term used by Parmigiani to describe the phenomenon where a firm simultaneously buys and makes the same good or service. The purpose of this paper is to develop propositions that suggest how concurrent sourcing affects performance.

Based on transaction cost, agency, neoclassical economic, knowledge‐based, and resource‐based theory, it is proposed to show how concurrent sourcing affects performance.

The paper argues that concurrent sourcing improves performance when firms face a combination of volume uncertainty, technological uncertainty, performance uncertainty, non‐decomposability, transaction‐specific investments, and strong internal and external capabilities.

The paper maps the relationships between concurrent sourcing and performance and discusses how these relationships can be modelled. The propositions and discussion offer researchers a starting‐point for further research.

The propositions that are developed suggest that managers should consider using concurrent sourcing when they face problems caused by volume uncertainty, technological uncertainty, performance uncertainty, non‐decomposability, and asset specificity. Concurrent sourcing can also be a way to exploit both strong internal capabilities and external suppliers' strong capabilities.

The main contribution is a number of propositions, explanations, and discussions regarding how concurrent sourcing affects performance of the market and the hierarchy.

The purpose of this paper is to examine a US retailer's decision to backward‐integrate its supply channel for global sourcing, based on the framework adapted from transaction cost analysis (TCA).

The conceptual framework was developed based on the past literature. A survey method was employed to collect the data from apparel retail firms engaging in global sourcing. Confirmatory factor analysis and ordinal regression analysis were used to diagnose the quality of data and to test hypotheses.

A retail firm avoids backward integration when facing high volume fluctuation and high country risk combined with asset specificity, while it favors the integration when perceiving high asset specificity, socio‐cultural distance, free‐ride potential, and sourcing volume. Great experience also leads to backward integration not only as a main factor, but also as a moderator reinforcing the effects of asset specificity and uncertainty on integration.

Although transaction costs associated with foreign procurement are highly significant, little attempt has been made so far to apply TCA to understand sourcing governance decisions, in particular those by retailers – important participants in the current landscape of global sourcing. This study fills this gap. This study also examines the role of import volume, experience, and free ride potential to provide a more comprehensive understanding of sourcing governance decisions by retailers.

This paper explores the impact of both government subsidies and decision makers' loss-averse behavior on the determination of transportation build-operate-transfer (BOT) concession periods based on cumulative prospect theory (CPT). The prospect value of a transportation project under traffic risk can be formulated according to the value function for gains and losses and the decision weight for gains and losses. As an extra income for investors, government subsidy is designed for highly risky aspects of BOT transportation projects: uncertain initial traffic volumes and fluctuating growth rates.

A decision-making model determining the concession period of a transportation BOT project is proposed by using the Monte-Carlo simulation method based on CPT, and the effects of risky behaviors of private investors on concession period decision making are analyzed. A subsidy method related to the internal rate-of-return (IRR) corresponding to a specific initial traffic volume and growth rate is proposed. The case of an actual BOT highway project is examined to illustrate how the method proposed can be used to determine the concession period of a transportation BOT project considering decision makers' loss-averse behavior and government subsidy. Contingency analysis is discussed to cope with possible misestimating of key factors such as initial traffic volume and cost coefficients. Sensitivity analysis is employed to investigate the impact of CPT parameters on the concession period decisions. An actual BOT case which failed to attract private capital is introduced to show the practical application. The results are then interpreted to conclude this paper.

Based on comparisons drawn between a concession period decision-making model considering the psychological behaviors of decision makers and a model not considering them, the authors conclude that the concession period based on CPT is distinctly different from that of the loss-neutral model. The concession period based on CPT is longer than the loss-neutral concession period. That is, loss-averse private investors tend to ask for long concession periods to make up for losses they will face in the future. Government subsidies serve as extra income for investors, allowing appointed profits to be secured sooner. For the benefit side of contingency variables, the normal state of initial traffic volume, average annual traffic growth rate and bias degree and the government subsidy need to be paid close attention during the project life span. For the cost side of contingency variables, the annual operating cost variable has a significant impact on the length of predicted concession period, while the large-scale cost variable has minor impact.

With an actual BOT highway project, the determination of transportation BOT concession periods based on the psychological behaviors of decision makers is analyzed in this paper. As the psychological behaviors of decision makers heavily impact the decision-making process, the authors analyze their impacts on concession period decision making. Government subsidy is specifically designed for various states of initial traffic volume and fluctuating growth rates to cope with corresponding high risks and mitigate private investors' loss-averse behaviors. Contingency analysis and sensitivity analysis are discussed as the estimated values of parameters may not be authentic in actual situations.

The purpose of this study is to enable performing reliability-based design optimisation (RBDO) for a composite component while accounting for several multi-scale uncertainties using a large representative volume element (LRVE). This is achieved using an efficient finite element analysis (FEA)-based multi-scale reliability framework and sequential optimisation strategy.

An efficient FEA-based multi-scale reliability framework used in this study is extended and combined with a proposed sequential optimisation strategy to produce an efficient, flexible and accurate RBDO framework for fibre-reinforced composite laminate components. The proposed RBDO strategy is demonstrated by finding the optimum design solution for a composite component under the effect of multi-scale uncertainties while meeting a specific stiffness reliability requirement. Performing this using the double-loop approach is computationally expensive because of the number of uncertainties and function evaluations required to assess the reliability. Thus, a sequential optimisation concept is proposed, which starts by finding a deterministic optimum solution, then assesses the reliability and shifts the constraint limit to a safer region. This is repeated until the desired level of reliability is reached. This is followed by a final probabilistic optimisation to reduce the mass further and meet the desired level of stiffness reliability. In addition, the proposed framework uses several surrogate models to replace expensive FE function evaluations during optimisation and reliability analysis. The numerical example is also used to investigate the effect of using different sizes of LRVEs, compared with a single RVE. In future work, other problem-dependent surrogates such as Kriging will be used to allow predicting lower probability of failures with high accuracy.

The integration of the developed multi-scale reliability framework with the sequential RBDO optimisation strategy is proven computationally feasible, and it is shown that the use of LRVEs leads to less conservative designs compared with the use of single RVE, i.e. up to 3.5% weight reduction in the case of the 1 × 1 RVE optimised component. This is because the LRVE provides a representation of the spatial variability of uncertainties in a composite material while capturing a wider range of uncertainties at each iteration.

Fibre-reinforced composite laminate components designed using reliability and optimisation have been investigated before. Still, they have not previously been combined in a comprehensive multi-scale RBDO. Therefore, this study combines the probabilistic framework with an optimisation strategy to perform multi-scale RBDO and demonstrates its feasibility and efficiency for an fibre reinforced polymer component design.

The concept of buyer focus has recently been introduced as a new supply chain strategy, although the design and operation of buyer‐focused cells have hardly been investigated. The purpose of this paper is to investigate how buyer‐focused cells realise responsiveness.

The paper explores the origins of buyer focus by synthesising the literature on focus and supply chain management (SCM). The recent model of responsiveness by Holweg is used to analyse two cases in the semi‐conductor industry. Based on the literature and the case‐findings the model is further developed.

The main findings of the paper are that: the model of responsiveness can be used to better understand buyer‐focused cells as a supply chain strategy, but needs to be enhanced with additional elements; two of the dimensions of Holweg's model (product and volume) seem to determine the third (process) dimension; designing and operating buyer‐focused cells is a blend of well‐chosen and proven solutions combined with close integration with the buyer.

The extended model and the operation of buyer‐focused cells need further refinement and research using the key factors so far established.

The paper explores both the contingency factors and the major design and operating factors related to a new supply chain strategy (buyer‐focused cells) which is aimed at increasing responsiveness, and investigates two practical cases. Managers can use the developed framework to better understand their own situation and guide decision making.

The paper aims at further developing and understanding the responsiveness of buyer‐focused cells by drawing on previous contributions in the literature on SCM and the focused factory. Through this, the authors add to the theory of responsiveness and to empirical knowledge on the design and operation of buyer‐focused cells.

Theorising from a resource-based view perspective, the intersection of supply chain management and the use of information technology (IT) has been investigated in this study. This paper aims to investigate supply chain performance (SCP) as an essential outcome of the use of IT and explores the effect of supply chain collaboration (SCC) on SCP. In addition, volume uncertainty (VU) has been explored and tested to establish whether various associated uncertainties can be mitigated when the use of IT is involved.

A sample of 121 senior executives from agri-tech firms was collected by travelling and meeting the executives in person in various states of India. Structural equation modelling was used to test the hypothesized relationship of VU to SCP via the use of IT and SCC.

The results show that VU significantly impacts SCC via the use of IT and SCP via SCC. The use of IT positively and significantly impacts SCP via SCC.

Witnessing the potential benefits of the emerging use of IT in the uncertainty reduction as reported in this study, agri-tech firms operating in emerging rural and agricultural economies can enhance SCC to improve SCP.

This study unfolds how risks in agricultural supply chains (ASCs) sourced because the VU can be mitigated through the use of IT and SCC to influence SCP in rural agricultural and developing economies.

VU at agri-tech firms and farmers is a ground reality that has led to an inability to plan and prepare, resulting in wastages and disruptions in ASCs and farmers’ struggles.

This paper shows that uncertainty is a multidimensional theoretical concept, which has empirical implications for the relationship with vertical integration. In a survey of empirical work that tests the relation between uncertainty and vertical integration, this paper demonstrates that performance ambiguity and general measures of uncertainty are positively related with vertical integration, technological uncertainty is negatively related, while market uncertainty and complexity are not systematically related to vertical integration.

This paper aims to examine the predictive power of the volume of Economic Uncertainty Related Queries and the Macroeconomic Uncertainty Index on the Bitcoin returns.

Data consists of 118 monthly observations from September 2010 to June 2020. Due to the departure of series from Gaussian distribution and the existence of outliers, the authors use the quantile analysis framework to investigate the persistency of the shocks, the long-run relationships and Granger causality among the variables.

This research provides several important findings. First, the substantial differences between conventional and quantile test results stress the importance of the method selection. Second, throughout the conditional distribution of the series, stochastic properties of the variables, long-run and the causal relationships between the variables might be significantly different. Third, rich information provided by the quantile framework might help the investors design better investment strategies.

This study differs from the previous research in terms of variable selection and econometric methodology. Therefore, it presents a more comprehensive framework that suggests implications for empirical researchers and Bitcoin investors.

This article reports on the influence of product type on the purchasing structure within selected phases of the purchasing process by using regression analysis on data from Greek manufacturing and utility enterprises. Our study examined the influence of two different categories of items, namely product incorporated items and MRO (maintenance, repair and operating) items, on various aspects of the purchasing cycle. The results suggested that parameters of purchasing structure varied considerably between the two product types and that their configuration depended on attributes such as product complexity and environmental uncertainty.