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A multi-objective approach to supply chain visibility and risk

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  • Yu, Min-Chun
  • Goh, Mark

Abstract

This paper investigates the twin effects of supply chain visibility (SCV) and supply chain risk (SCR) on supply chain performance. Operationally, SCV has been linked to the capability of sharing timely and accurate information on exogenous demand, quantity and location of inventory, transport related cost, and other logistics activities throughout an entire supply chain. Similarly, SCR can be viewed as the likelihood that an adverse event has occurred during a certain epoch within a supply chain and the associated consequences of that event which affects supply chain performance. Given the multi-faceted attributes of the decision making process which involves many stages, objectives, and stakeholders, it beckons research into this aspect of the supply chain to utilize a fuzzy multi-objective decision making approach to model SCV and SCR from an operational perspective. Hence, our model incorporates the objectives of SCV maximization, SCR minimization, and cost minimization under the constraints of budget, customer demand, production capacity, and supply availability. A numerical example is used to demonstrate the applicability of the model. Our results suggest that decision makers tend to mitigate SCR first then enhance SCV.

Suggested Citation

  • Yu, Min-Chun & Goh, Mark, 2014. "A multi-objective approach to supply chain visibility and risk," European Journal of Operational Research, Elsevier, vol. 233(1), pages 125-130.
    • Handle: RePEc:eee:ejores:v:233:y:2014:i:1:p:125-130
    DOI: 10.1016/j.ejor.2013.08.037
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    References listed on IDEAS

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    Cited by:

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    15. Kalaiarasan, Ravi & Olhager, Jan & Agrawal, Tarun Kumar & Wiktorsson, Magnus, 2022. "The ABCDE of supply chain visibility: A systematic literature review and framework," International Journal of Production Economics, Elsevier, vol. 248(C).
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