PhD, Operations Management, University of Waterloo, Canada
MEng, Industrial Systems Engineering, Asian Institute of Technology, Thailand
BEng, Production Engineering, Jadavpur University, India
Dr. Ray joined the Operations Management area of the Desautels Faculty of Management in 2001, after finishing his Phd from the University of Waterloo (1998-2001). Dr. Ray holds a bachelor degree in Production Engineering, and a master's degree in Industrial and Systems Engineering. In addition, he worked for about five years in India in supply management and project management sectors.
Dr. Ray's research interest can broadly be categorized as supply chain management. He is specifically interested in studying supply chain risk management, retail operations management, and supply chain issues related to agri-food and natural resources sectors. Most of his research is at the interface of operations and marketing. His research has been accepted/published in such reputed journals like Management Science, Operations Research, Manufacturing and Service Operations Management (M&SOM), Marketing Science, Quantitative Marketing & Economics (QME), Production and Operations Management (POMS), IIE Transactions, Naval Research Logistics, European Journal of Operational Research and International Journal of Production Economics. He has also presented his research in a number of international conferences. In addition, Dr. Ray presently holds/held a number of grants from almost all the major granting in Canada (NSERC, SSHRC, CIHR) and Quebec (FRQSC and FRQS). He has been awarded the prestigious Desautels Faculty Scholar award twice for his research achievements. In addition, he is a Senior Editor for POMS and Associate Editors for M&SOM and IIE Transactions.
Dr. Ray's teaching interests are also related to operations and supply chain management. He teaches the core operations management at the MBA level and have taught courses on operations strategy and technology/process implementation at undergraduate and graduate levels. He has been awarded multiple teaching awards including Teaching Excellence Award from Quebec Government and Desautels Teaching Award for Undergraduate Teaching.
Moreover, Dr. Ray is presently the Associate Dean, Academic at the Desautels Faculty of Management as well as the Director of the Global Manufacturing and Supply Chain Management (GMSCM) Program. The latter is a graduate program jointly offered by Desautels and School of Management of Zhejiang University in Hangzhou (China). In addition, he is also presently the Academic Director for the Program for International Competitiveness and McGill Center for the Convergence of Health and Economics. He has also served as Associate Dean, Research and International Relations and as Director of the PhD program in the faculty.
MGCR 652 Value Creation 4 Credits
Offered in the:
Papers in Peer-Reviewed Journals
Xiao Huang, Tamer Boyaci, Mehmet Gumus, Saibal Ray and Dan Zhang. United We Stand, Divided We Fall: Strategic Supplier Alliances Under Default Risk, Management Science, Forthcoming
Xiaofeng Nie, Tamer Boyaci, Mehmet Gumus, Saibal Ray and Dan Zhang. Joint Procurement and Demand-side Bidding Strategies Under Price Volatility, Annals in Operations Research, Forthcoming
Haresh Gurnani, Karthik Ramachandran, Saibal Ray and Yusen Xia. (2014) Ordering Behavior Under Supply Risk: An Experimental Investigation, Manufacturing & Service Operations Management, 16, 1, 61-75.
Mehmet Gumus, Saibal Ray and Shuya Yin. (2013) Returns Policies Between Channel Partners for Durable Products with Used Goods Markets, Marketing Science, 32, 4, 622-643.
Mehmet Gumus, Shanling Li, Wonseok Oh and Saibal Ray. (2013) Shipping Fees or Shipping Free? A Tale of Two Price Partioning Strategies in Online Retailing, Production and Operations Management, 22, 4, 758-776.
Arcan Nalca, Tamer Boyaci and Saibal Ray (2013). Equilibrium Analyisis of the Availability Verification Clause Under Demand Uncertainty, Management Science, 59, 971-986.
Mehmet Gumus, Saibal Ray and Haresh Gurnani. (2012) Supply Side Story: Risks, Guarantees, Competition and Information Asymmetry, Management Science, 58, 9, 1694- 1714.
Haresh Gurnani, Mehmet Gumus, Saibal Ray and Tridip Ray. (2012) Optimal Procurement Strategy Under Supply Risk, 29, 1, Asia-Pacific Journal of Operational Research, 1-31.
Sachin Jayswal, Elizabeth Jewkes and Saibal Ray. (2011) Product Differentiation and Operations Strategy in a Capacitated Environment, 210, European Journal of Operational Research, 716-728.
Arcan Nalca, Tamer Boyaci and Saibal Ray. (2010) Competitive Price Matching Guarantees Under Imperfect Product Availability, Quantitative Marketing and Economics, 8, 3, 275-300.
Shuya Yin, Saibal Ray, Haresh Gurnani and Animesh Animesh. (2010) Durable Products with Multiple Used Goods Markets: Product Upgrade and Retail Pricing Implications, 29, 3, Marketing Science, 540-560.
Saibal Ray, Yuyue Song and Manish Verma. (2010) Comparison of Two Periodic Review Models for Stochastic and Price-Sensitive Demand Environment, International Journal of Production Economics, 128, 1, 209-222.
Yuyue Song, Saibal Ray and Tamer Boyaci. (2009) Optimal Dynamic Joint Inventory- Pricing Control for Multiplicative Demand with Fixed Order Costs and Lost Sales, Operations Research, 57, 1, 245-250.
Yuyue Song, Saibal Ray and Shanling Li. (2008) Structural Properties of Buyback Contracts for Price-Setting Newsvendors, 10, 1, Manufacturing and Service Operations Management, 1-18.
Tamer Boyaci and Saibal Ray. (2006) The Impact of Capacity Costs on Product Differentiation in Delivery Time, Delivery Reliability and Price, Production and Operations Management, 15, 2, 197-197.
Yigal Gerchak, Richard Cho and Saibal Ray. (2006) Coordination of Quantity and Shelf-Retention Timing in the Video Movie Rental Industry, IIE Transactions, 38, 7, 525-536
- Featured in the professional magazine Industrial Engineer, December 2005, 55.
- Awarded IIE Transactions on Scheduling and Logistics Best Application Paper Award.
Frank Chen, Saibal Ray and Yuyue Song. (2006) Optimal Pricing and Inventory Control Policy in Periodic-Review Systems with Fixed Ordering Cost and Lost Sales, Naval Research Logistics, 53, 2, 117-136.
Saibal Ray, Shanling Li and Yuyue Song. (2005) Tailored Supply Chain Decision-Making Under Price-Sensitive Stochastic Demand and Delivery Uncertainty, Management Science, 51, 12, 1873-1891.
Saibal Ray, Yigal Gerchak and Elizabeth Jewkes. (2005) Joint Pricing and Inventory Policies for Make-to-Stock Products with Deterministic Price-Sensitive Demand, International Journal of Production Economics, 97, 2, 143-158.
Saibal Ray. (2005). An Integrated Operations-Marketing Model for Innovative Products and Services, International Journal of Production Economics, 95, 3, 327-345.
Saibal Ray, Tamer Boyaci and Necati Aras. (2005) Optimal Prices and Trade-in Rebates for Durable, Remanufacturable Products, Manufacturing & Service Operations Management, 7, 3, Summer, 208-228.
Saibal Ray and Elizabeth Jewkes. (2004) Customer Lead time Management when Both Demand and Price are Lead Time Sensitive, European Journal of Operational Research, 153, 3, 769-781.
Saibal Ray, Yigal Gerchak and Elizabeth Jewkes. (2004) The Effectiveness of Investment in Lead Time Reduction for a Make-To-Stock Product, IIE Transactions, 36, 333-344.
Tamer Boyaci and Saibal Ray. (2003) Product Differentiation and Capacity Cost Interaction in Time and Price Sensitive Markets, Manufacturing & Service Operations Management, 5, 1, Winter, 18-36.
Yigal Gerchak, Elkafi Hassini and Saibal Ray. (2002) Capacity Selection under Uncertainty with Ratio Objectives, European Journal of Operational Research, 143, 1, 138-147.
Books and Edited Volumes
Co-Edited; “Supply Chain Disruptions: Theory and Practice of Managing Risk” jointly with Haresh Gurnani and Anuj Mehrortra of University of Miami (Publisher: Springer, London; ISBN: 0857297775)
- Taner Boyaci, Saibal Ray and Yuyue Song. Dynamic Decision-making in a Decentralized Price-Setting Supply Chain (Last revised February 2006)
Yue Zhang, Saibal Ray and Vedat Verter. Competitive Joint Location and Pricing Decisions (Last revised August 2007)
Xiaoqing Jing and Saibal Ray. Analysis of Competition between Risk-Averse Newsvendor Retailers (Last revised August 2007)
Tamer Boyaci, Haresh Gurnani and Saibal Ray. Optimal Pricing and Capacity Decisions for Complementary and Substitutable Products (Last revised August 2004).
Saibal Ray and J. H. Bookbinder. Service Level Management for Price and Service Sensitive Customers (Last revised August 2004)
Shanling Li, Saibal Ray and Yuyue Song. Optimal Joint Pricing, Stocking and Replenishment Time Strategy for a Procure-to-Stock Firm (Last revised October 2004)
Maria Sedeno, Saibal Ray and Kevin Schwartzman. Improving Patient Accessibility and Waiting Time Reduction at Montreal Chest Clinic (Last revised August 2003)
Research Awards / Recognitions
2007-2010, 2011-2014: Desautels Faculty Scholar Award, Research in Supply Chain Management, Endowed Chair, McGill University
2007, 2009, 2010: Merit award from M&SOM (Manufacturing and Service Operations Management) Journal
2009, 2010: Merit award from Management Science
2008: IIE Transactions on Scheduling and Logistics Best Application Paper Award - "Coordination of Quantity and Shelf-Retention Timing in the Video Movie Rental Industry".
PhD student Sachin Jayswal (University of Waterloo) got the following awards for our joint work:
- Canadian Operational Research Society student paper 1st prize for the paper “Price and Time Differentiation in a Capacitated, Competitive Environment”
- Canadian Operational Research Society student paper prize (honourable mention) for the paper “Product Differentiation & Operations Strategy in a Capacitated Environment”
- Best Student Research Paper Award, University of Waterloo, Mgmt Sc Dept for two consecutive years for the above two papers
2006: Selected for OM Emerging Scholars Meeting for Production and Operations Management (POMS), Boston
2002: Dissertation nominated for the Governor General’s Gold Medal Prize, University of Waterloo
2002: Dissertation nominated for the NSERC Research Council Doctoral Prize
2000: Best Student Research Paper Award, Department of Management Sciences, University of Waterloo
2009: Quebec Teaching Excellence Award, Government of Quebec
2009: Awarded Desautels Teaching Award for Undergraduate Teaching, Desautels Faculty of Management, McGill University
2004: Nominated for the Principal’s Prize for Excellence in Teaching (Assistant Professor Category), Faculty of Management, McGill University
2004: Honorable mention, Management Undergraduate Society’s Teacher of the Year Award, Faculty of Management, McGill University
2000: Best Teaching Assistant Award, Department of Management Sciences, University of Waterloo
Academic Honors / Scholarships
1999-2000: Faculty of Engineering Scholarship for academic excellence, University of Waterloo
1998: Graduate Entrace Scholarship, University of Waterloo
1997: Best Masters Student: Tim Kendall Gold Medal as the most outstanding graduate of the class at the Asian Institute of Technology, Bangkok, Thailand
1996-1997: Thailand King’s Scholarship for graduate studies
1992: Best Undergraduate Student: University Gold Medal as the best graduating student of the class at Jadavpur University, Calcutta, India
2014-2017: Group Grant (Partnership Development Grant) from Social Sciences and Humanities Research Council (SSHRC) of Canada; Topic: A Convergent Innovation Coalition for Sustainable Prosperity: Development Work for Agri-Food Systems
2014-2018: Fonds Québécois de la Recherche sur la Société et la Culture (FRQSC) Team Grant (PI: Prof. Laurette Dubé); Topic: Comportement du consommateur et dynamique de production, distribution et compétition en alimentation: Equilibrer la santé, le plaisir, et les affaires à court et long terme
2014-2015: Group Grant from Grand Challenges India (PI: E-Kutir); Topic: VeggieLite - Conjuction of Agriculture Nutrition and Health for Inclusive Development of Women
2014-2019: Group Grant (Insight Grant) from from Social Sciences and Humanities Research Council (SSHRC) of Canada (PI: Laurette Dubé); Topic: Paths of Convergence for Agriculture, Health and Wealth: Foundational Work for a Trans-disciplinary Whole-of-Society Paradigm in Food and Nutrution Context
2012-2017: Individual Research (Discovery) Grant from Natural Sciences and Engineering Research Council (NSERC) of Canada; Topic: Improving Visibility, Risk Management and Economic Sustainability of Supply Chains
2008-2011: Group Grant (Management, Business and Finance) from Social Sciences and Humanities Research Council (SSHRC) of Canada; Topic: Operational Risk Management in Supply Chains
2006-2012: Individual Research (Discovery) Grant from Natural Sciences and Engineering Research Council (NSERC) of Canada; Topic: Optimal Customization of Supply Chains in Dynamic Environments
2012-2013: Shastri Indo-Canadian Institute Team Grant; Topic: Sustainable Food Value Chains in the Indian Context
2011-2014, 2007-2010: Desautels Faculty Scholar Award (Endowed Chair); Topic: Research in Supply Chain Management
2011-2012: Group Grant from Economic Development Agency of Canada (EDC) (with Conference Board of Canada); Topic: Integrating Quebec SMEs into Production Networks of MNCs to Heighten Levels of Competitiveness & SME Manufacturers in Quebec: Providing Services to Foster Growth
2011-2012: Group Grant from Canadian Purchasing Research Foundation (CPRF) part of Purchasing Management Association of Canada (PMAC) – PI; Topic: Impact of Emerging Markets on Canadian Firms
2011-2016: Canadian Institute of Health Research (CIHR) Team Grant (PI: Prof. Laurette Dubé); Topic: Foundational Work for a Brain-to-Society Diagnostic for Prevention of Childhood Obesity and its Chronic Diseases Consequences
2010-2013: Fonds Québécois de la Recherche sur la Société et la Culture (FRQSC) Team Grant (PI: Prof. Laurette Dubé); Topic: Comportement du consommateur et dynamique de production, distribution et compétition en alimentation (Consumer behavior and dynamics of production, distribution and competition for food)
2002-2006: Individual Research (Discovery) Grant from Natural Sciences and Engineering Research Council (NSERC) of Canada; Topic: Design of Demand-Responsive Supply Chains
2003-2006: New Researcher Grant (Individual) from Fonds Québécois de la Recherche sur la Société et la Culture (FQRSC); Topic: Decision-making for Tailored Supply Chains: An Integrated Operations-Marketing Approach
2007-2010: Fonds de la recherche en santé du Québec (FRSQ) Team Grant (PI: Prof. Vedat Verter); Topic: Simulation-based decision support methodology: A tool for enhancing Emergency Department Management
PhD, Accounting, University of Waterloo, Canada
Bachelor, Accounting Sciences, Université du Québec à Rimouski, Canada
Professor Fortin joined the McGill Faculty of Management in 1999. Since then, he has taught Financial Accounting in the Bcom program at McGill, and the MBA program in Japan. He is one of the module directors in the McGill/HEC Executive MBA program. He has also taught several seminars to executives for the McGill International Executive Institute in several sectors of the economy. For many years, professor Fortin was involved as a trainer with the Montreal Exchange, providing training on Accounting for Derivatives.
Professor Fortin’s research interests are auditing quality and financial accounting. His research has appeared in many renown journals, including The Journal of Accounting and Economics and Contemporary Accounting Research, amongst others. His research has been presented in conferences worldwide.
Prior to joining McGill, Professor Fortin worked as an Auditor for Samson Bélair/Deloitte & Touche, following his undergraduate studies at the Université du Québec à Rimouski. He then completed a PhD in Accounting at the University of Waterloo.
Professor Fortin received many awards and scholarships during his career. He was awarded the gold medal in Québec (6th in Canada) for his achievement at the Uniform Final Examination of the Institute of Chartered Accountants of Canada in 1992, and the Governor General's Academic Medal (Silver) for his academic achievement during his undergraduate degree at Université du Québec à Rimouski. He is an award wining teacher, having received teaching awards from both McGill University, and the McGill Undergraduate Society.
Papers in Peer-Reviewed Journals
Edelstein, R., S. Fortin and D. Tsang (2012). An International Exploration of Financial Reporting Practices in the Real Estate Industry. International Real Estate Review (15-3), pp. 347-372.
Ge, W., D.H. Drury, S. Fortin, F. Liu and D. Tsang (2010). Value Relevance of Disclosed Related Party Transactions. Advances in Accounting, Vol. 26, Issue 1, pp. 134-141.
Fortin, S. and J.A. Pitman (2008). The Impact of Auditor-Related Tax Services on Corporate Debt Pricing. The Journal of the American Taxation Association, Vol. 30, No. 2, pp. 79-106.
Fortin, S. and J. A. Pittman (2007). The Role of Auditor Choice in Debt Pricing in Private Firms. Contemporary Accounting Research (24): pp. 859-896.
Pittman, J.A. and S. Fortin (2004). The impact of auditor’s reputation on the cost of financing. Journal of Accounting and Economics (37): 113-136.
Eckel, L., S. Fortin and K. Fisher (2003). The Choice of discount rate for external reporting purposes: considerations for standard setting. Accounting Forum (27), pp. 28-59.
Books and Edited Volumes
Chapters in Books
Fortin, S., D. Tsang, and F.-P. Dionne (2008). “GAAP vs. Non-GAAP Summary Performance Measures: An International Exploration of Reporting Practices Adopted in the Real Estate Industry,” Report for Real Property Association of Canada (REALpac), 2008
Fortin, S. (1998). The University of Waterloo Second Survey of Canadian Derivatives use and Hedging Activities. Published in Smithson, C.W. (1998). Managing Financial Risk: 1998 Yearbook. CIBC World Markets: 173-193.
2003: Management Undergraduate Society (M.U.S.) Professor-Student Life Award, for implication in the Student life at McGill
2002: Faculty of Management, McGill University, Distinguished Teacher Award (B.com)
2001: Management Undergraduate Society (M.U.S.) Teacher of the Year Award, for teaching excellence at McGill
1995-1999: John Waterhouse PhD Scholarship (1999)
FCAR Scholarships (2 years)
ICAO Doctoral Studies support (1 year)
KPMG Peat Marwick Thorne Doctoral Award (2 years)
1992: Quebec Gold Medallist (1st in Québec), 6th in Canada. Uniform Final Examination of the Canadian Institute of Chartered Accountants
1992: General Governor of Canada Silver Medallist for academic excellence. Université du Québec à Rimouski, Class of 1992
1991: Raymond Chabot Martin Paré Academic Achievement Award
1992: Ordre des Comptables Agréés du Québec Achievement Award
1992: UQAR Academic Achievement Awards (3 years)
2006: REALPAC research grants, (with Desmond Tsang – co-investigator)
2006: SSHRC Research Grant, (with Jeffrey A. Pittman – co-investigator)
2006: SSHRC Research Grant, (with Denis Cormier – principal investigator, Pascal Lapointe-Antunes and Michel Magnan)
2005: SSHRC Research Grant, (with Jeffrey A. Pittman – principal investigator)
2004: CAAA – CMA research grant, (with Sandy Hilton, Thomas Mattews and Jeffrey Pittman)
2002: SSHRC Research Grant, (with Jeffrey A. Pittman – principal investigator).