Modelling the supply chain swap problem in the petroleum industry. (13th November 2008)

• Record Type: Journal Article
• Authors: Al-Husain, Raed; Assavapokee, Tiravat; Khumawala, Basheer
• Is Part Of: International journal of applied decision sciences. Volume 1:Number 3(2008)
• Page Start: 261
• Page End: 281
• Publication Date: 2008-11-13
• Subjects: supply chain management -- SCM -- logistics -- mathematical modelling -- swap practice -- petroleum industry -- exchange transactions -- energy industry; Decision making -- Periodicals; Management science -- Periodicals; 658.403005
• Languages: English
• ISSNs: 1755-8077

Abstract

This paper is motivated by the need for developing well-structured methodologies and mechanisms that enable an efficient coordination of swap/exchange transactions among same-level supply chain partners in the petroleum and energy industries. A mathematical model that can capture the complexity in the swap transactions between two companies is presented. The model is then applied to a real case study from the petrochemicals industry, and the solutions of the model are evaluated and their performances are compared to those of current industry practices.