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Selection of resilient supply portfolio under disruption risks in supply chain

Author

Listed:
  • Mohsen Shafiei Nikabadi
  • Hanieh Shambayati
  • Nasim Ataei

Abstract

Nowadays, dependence of supply chain members while has provided many benefits for organisations, increases uncertainty and risk in the planning and organising activities. The risk of disrupting or failing to communicate with the supplier due to various disasters has occurred in recent years. In this regard, this study introduces a model of mixed integer programming (MIP), to provide resiliency under the terms of a portfolio's risk by minimising the disturbance conditional value at risk is optimised. A model with two meta-heuristic algorithm and using real data is solved and compared. The results showed that the two algorithms do not differ significantly in the value of the objective function. Also the resolution time for the harmony search algorithm was 8.87 seconds and the imperialist competition algorithm was 8.28 seconds. Based on the results in general, the performance of the imperialist competition algorithm, although slightly less, is better than a harmony search algorithm.

Suggested Citation

  • Mohsen Shafiei Nikabadi & Hanieh Shambayati & Nasim Ataei, 2021. "Selection of resilient supply portfolio under disruption risks in supply chain," International Journal of Industrial and Systems Engineering, Inderscience Enterprises Ltd, vol. 37(4), pages 432-462.
    • Handle: RePEc:ids:ijisen:v:37:y:2021:i:4:p:432-462
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    Cited by:

    1. Hanieh Shambayati & Mohsen Shafiei Nikabadi & Sara Saberi & Abbas Mardani, 2024. "A neutrosophic optimization model for supply chain virtualization in the circular economy using the non-dominated sorting genetic algorithm II," Annals of Operations Research, Springer, vol. 342(1), pages 687-723, November.

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