Flexibility assessment and risk management in supply chains. Issue 12 (6th August 2015)
- Record Type:
- Journal Article
- Title:
- Flexibility assessment and risk management in supply chains. Issue 12 (6th August 2015)
- Main Title:
- Flexibility assessment and risk management in supply chains
- Authors:
- Sahay, Nihar
Ierapetritou, Marianthi - Abstract:
- Abstract : Increased uncertainty in recent years has led the supply chains to incorporate measures to be more flexible in order to perform well in the face of the uncertain events. It has been shown that these measures improve the performance of supply chains by mitigating the risks associated with uncertainties. However, it is also important to assess the uncertainty under which a supply chain network can perform well and manage risk. Flexibility is defined in terms of the bounds of uncertain parameters within which supply chain operation is feasible. A hybrid simulation‐based optimization framework that uses two‐stage stochastic programming in a rolling horizon framework is proposed. The framework enables taking optimum planning decisions considering demand uncertainty while managing risk. The framework is used to study the trade‐offs between flexibility, economic performance, and risk associated with supply chain operation. © 2015 American Institute of Chemical Engineers AIChE J, 61: 4166–4178, 2015
- Is Part Of:
- AIChE journal. Volume 61:Issue 12(2015:Dec.)
- Journal:
- AIChE journal
- Issue:
- Volume 61:Issue 12(2015:Dec.)
- Issue Display:
- Volume 61, Issue 12 (2015)
- Year:
- 2015
- Volume:
- 61
- Issue:
- 12
- Issue Sort Value:
- 2015-0061-0012-0000
- Page Start:
- 4166
- Page End:
- 4178
- Publication Date:
- 2015-08-06
- Subjects:
- supply chain management -- flexibility -- risk -- hybrid simulation‐based optimization
Chemical engineering -- Periodicals
Génie chimique -- Périodiques
660.28 - Journal URLs:
- http://onlinelibrary.wiley.com/ ↗
- DOI:
- 10.1002/aic.14971 ↗
- Languages:
- English
- ISSNs:
- 0001-1541
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 0773.071200
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 9875.xml