Relief　supply　management　is　one　of　the　most　important　parts　in　emergency　management.　Because　of　high　uncertainty　and　time　urgency,　relief　supplies　should　be　purchased　in　advance　as　stock　before　disasters　occurs.　The　purchasers　of　relief　supplies　are　mainly　governments.　As　in　commercial　supply　management,　governments　face　inventory　risk　and　stock-out　risk　in　their　management　of　relief　supplies.　Stock-out　risk　can　be　solved　by　spot　markets　and　in-kind　donations,　while　there　is　no　good　solution　to　inventory　risk.　It　is　highly　possible　that　pre-reserved　relief　supplies　are　not　used　within　their　validity　periods　because　of　the　low　frequency　of　disasters,　which　causes　huge　losses　to　governments.　To　solve　the　problem,　we　introduce　a　put　option　contract　into　relief　supply　management　by　considering　the　system　as　a　relief　supply　chain.　We　explore　the　characteristics　of　the　put　option　contract　and　prove　that　it　can　provide　coordination　of　the　relief　supply　chain.　Furthermore,　we　make　comparison　between　the　put　option　contract,　wholesale　price　contract　and　buyback　contract　under　the　same　conditions　to　show　the　superiority　of　the　put　option　contract.　Meanwhile,　we　also　present　the　condition　that　both　a　government　and　a　supplier　conduct　transactions　and　achieve　a　win-win　situation　based　on　the　put　option　contract.　©　2018　Elsevier　Ltd