Supplier development or supplier switching?
研究企业在降低采购成本时，是投资现有供应商还是转向新供应商的决策，发现供应商开发在高成本不确定时更优，而转换在市场价预期高且不确定时更优。
We study a firm's cost-based sourcing decision of whether to invest in an incumbent supplier or switch to an alternative supplier in order to realise lower purchasing costs. In isolation, it can be shown that the development of an incumbent supplier (i.e., a cooperative investment) becomes more attractive, the higher the uncertainty about the price the buying firm can realise on the market and the incumbent supplier's cost. Likewise, switching to an alternative supplier becomes more attractive, the higher the expected value of and the uncertainty about the buying firm's market price. For comparing these two sourcing strategies simultaneously we provide a profit-maximising framework for the buying firm that shows that switching is less recommendable the higher the variance of the incumbent's cost and if the uncertain maximum demand is negatively correlated with the uncertain incumbent supplier's cost. Overall, our study substantially expands the frequently followed approach of basing supplier development versus supplier switching decisions merely on strategic and qualitative considerations.