Controlling the Risk for an Agricultural Harvest

Unknown author

99 citations0/0 files storedManufacturing & Service Operations Management

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Supply Chain and Inventory Management Management and Optimization Techniques Capital Investment and Risk Analysis

Abstract

Gathering the harvest represents a complex managerial problem for agricultural cooperatives involved in harvesting and processing operations: balancing the risk of overinvestment with the risk of underproduction. The rate to harvest crops and the corresponding capital investment are critical strategic decisions in situations where poor weather conditions present a risk of crop loss. In this article, we discuss a case study of the Concord grape harvest and develop a mathematical model to control harvest risk. The model involves differentiation of a joint probability distribution that represents risks associated with the length of the harvest season and the size of the crop. This approach is becoming popular as a means of dealing with complex problems involving operational and supply chain risk. Significant cost avoidance, in the millions of dollars, results from practical implementation of the Harvest Model. Using real data, we found that the Harvest Model provides lower-cost solutions in situations involving moderate variability in both the length of season and the crop size as compared to solutions based on imposed risk policies determined by management.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 99 citations exist upstream.

References

1992Production and Operations Analysis 2019Production and Operations Analysis 1996Reducing the Cost of Demand Uncertainty Through Accurate Response to Early Sales 1977Agricultural Decision Analysis 1977Agricultural Decision Analysis 1997Improved Fashion Buying with Bayesian Updates 1966A Bayesian Analysis of the Style Goods Inventory Problem 2001Matching Supply and Demand: The Value of a Second Chance in Producing Hybrid Seed Corn

Cited by

2008A robust optimization approach to wine grape harvesting scheduling 2022A multi-objective optimization framework for a sustainable closed-loop supply chain network in the olive industry: Hybrid meta-heuristic algorithms 2021Designing a Closed-loop Supply Chain Network Considering Social Factors; A Case Study on Avocado Industry 2020Toward Resilient Agriculture Value Chains: Challenges and Opportunities 2012Agricultural planning of annual plants under demand, maturation, harvest, and yield risk

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.