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Multistage risk assessment of direct delivery business from local oil refineries in Sinopec Group based on normal cloud model

Author

Listed:
  • Wen Song
  • Jianjun Zhu
  • Hehua Wang
  • Anlin Chang

Abstract

This paper studies the risk assessment problem of the direct delivery business from local oil refineries in Sinopec Group. A total of 23 risk factors associated with four segments of the direct delivery business are first identified. Through explaining the respective characteristics, the connotation of each risk factor is analysed in depth. Next, on the basis of the severity and possibility of each risk factor, a multistage risk assessment method for normal cloud model rooted in the extended TOPSIS approach is developed, and then applied to a real-world case. From the investigation, the weaknesses of the present risk assessment process are addressed from various aspects, including the risk factors, segments, and alternatives. Moreover, considering the possible correlation among risk factors, the proposed method is further extended by using the approach of Choquet integral. Additional discussions and recommendations are provided for improving the risk management process of the direct delivery business from local oil refineries.

Suggested Citation

  • Wen Song & Jianjun Zhu & Hehua Wang & Anlin Chang, 2020. "Multistage risk assessment of direct delivery business from local oil refineries in Sinopec Group based on normal cloud model," International Journal of Production Research, Taylor & Francis Journals, vol. 58(18), pages 5624-5650, September.
    • Handle: RePEc:taf:tprsxx:v:58:y:2020:i:18:p:5624-5650
    DOI: 10.1080/00207543.2019.1656835
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