Abstract:  To cope with the uncertainty risk in the postcrisis era, multistage purchasing strategy for exportoriented manufacturers in China under flexible lease mechanism is studied. A new fuzzy stochastic dynamic programming is developed to describe the problem. Then, a new solution method is presented by simulating the exchange rate and fuzzy random variables with binary tree model and Monte Carlo method, respectively. A numerical example is used to verify the feasibility of the proposed model. This method is helpful for global purchasing planning for the exportoriented manufacturers in China.

Key words: multi-stage purchasing strategy, fuzzy random dynamic programming, binary tree model, Monte Carlo simulation