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A multi objective input–output model to select optimal strategies under COVID-19 conditions: In the pharmaceutical industry

Author

Listed:
  • Amirhossein Khanbaba

    (Islamic Azad University)

  • Sadoullah Ebrahimnejad

    (Islamic Azad University)

Abstract

The complexity of infrastructures and interdependent elements among supply chain network leads to increasing inoperability. Risk management of the supply chain network can reduce the mutual ripple effects of risk and disruptions based on a risk response strategy. However, the hidden factor of the negative effects of risk responses has rarely been considered by researchers. In the present work, the impact of the COVID-19 pandemic and the negative effects of risk responses have been applied in the proposed model. The computational results indicated a decreasing in the trend of improving operability and an increasing trend in the losses caused by disruptions. A multi-objective optimization model is presented in this study that allows decision-makers to prioritize supply chain network infrastructure and risks based on the speed and importance of inoperability. The solution of the proposed model selects the best and most effective response based on the utility of decision-makers considering budget constraints. Moreover, a solution is provided to determine the appropriate time to apply risk response based on network resilience and analyze the various scenarios of objective functions and budget.

Suggested Citation

  • Amirhossein Khanbaba & Sadoullah Ebrahimnejad, 2023. "A multi objective input–output model to select optimal strategies under COVID-19 conditions: In the pharmaceutical industry," Operations Management Research, Springer, vol. 16(4), pages 2025-2047, December.
    • Handle: RePEc:spr:opmare:v:16:y:2023:i:4:d:10.1007_s12063-023-00370-3
    DOI: 10.1007/s12063-023-00370-3
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