Study On The Principal-Agent Problem Of VMI System

Vendor Managed Inventory (VMI) is a new and representative supply chain inventory management tactic, which can help to overcome the"Bullwhip effect"of the traditional stock control mode availably and improve the efficiency and competitiveness of the supply chain. Issues of how to construct the cooperation mechanism to harmonize the VMI members'actions with the system goal and improve the integral performance have arouse a growing interest among both academics and practitioners.An important criteria that will be used to measure the the supply chain perfor- mance is coordination. Presently, there are two classes of cause that affect the coordination of the supply chain. A classical example is that of double-marginalization, the other example is that of asymmetrical information. There already exist plenty of literatures about the double-marginalization. The effect of information asymmetry on the VMI system's performance arouse the attention recently. However, it is short of the research on this problem.In this dissertation, we do research on VMI system's problems with information asymmetry based on the theory of principal-agent. The main research and innovation are organized as follows:In the introduction, propose and analyse the problem: the information asymmetry is an essential character of the supply chain, which have an important effect on the supply chain coordination. So the research on supply chain contracts will be more practical when we consider the effect of the information asymmetry.In the second part, solve the problem: construct three classes of supply chain contract models for the different VMI problems with information asymmetry. Make a detailed analysis on each model and obtain the results, which expand some research results of the theory of principal-agent.In the third part, case research: have an study on how to apply the principal-agent theory to construct the VMI system in the manufacturing area in our country.