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Evolutionary Analysis of Supply Chain Integration Strategy on Chinese Steel-Producing Firms considering Policy Risk
Lequn Zhu1, Ran Zhou1, Xiaojun Li1
1Tianjin Research Institute for Water Transport Engineering, M.O.T., Tianjin, China.
Computational Intelligence and Neuroscience
|July 7, 2022
Summary
China
Area of Science:
- Supply Chain Management
- International Trade
- Game Theory
Background:
- China's steel industry faces challenges despite rapid growth, with high import reliance for iron ore.
- Global supply chain integration is considered by Chinese steel firms to boost efficiency and reduce costs.
- The volatile international environment poses significant risks to supply chain integration strategies.
Purpose of the Study:
- To investigate the critical question of how Chinese steel producers should engage in global supply chain integration.
- To analyze the China-Australia steel trade as a case study for supply chain integration decisions.
- To determine the viability and decision boundaries for supply chain integration in the Chinese-Australian steel industry.
Main Methods:
- Utilizing evolutionary game theory to model firm interactions.
- Incorporating policy risk cost factors into the analysis.
- Examining a typical China-Australia steel trade scenario.
Main Results:
- Policy risk impacts different steel firms variably.
- Smaller steel companies show a higher propensity for supply chain integration, even amidst international tensions.
- The study identifies decision boundaries for supply chain integration.
Conclusions:
- Findings offer crucial decision support for steel enterprises in developing supply chain management strategies.
- Policy risk assessment is vital for successful supply chain integration in the steel sector.
- The study provides insights into navigating international trade complexities for Chinese steel firms.
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