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Selection of Resilient Supply Portfolio

In: Supply Chain Disruption Management

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  • Tadeusz Sawik

    (AGH University of Science and Technology
    Reykjavik University)

Abstract

This chapter deals with the optimal selection and protection of part suppliers and order quantity allocation in a supply chain under disruption risks. The protection decisions include the selection of suppliers to be protected against disruptions and the allocation of risk mitigation inventory of parts to be pre-positioned at the protected suppliers. The decision maker needs to decide which supplier to select for parts delivery and how to allocate orders quantity among the selected suppliers, and which of the selected suppliers to protect against disruptions and how to allocate risk mitigation inventory among the protected suppliers. The problem objective is to achieve a minimum cost of suppliers protection, risk mitigation inventory pre-positioning, parts ordering, purchasing, transportation, and shortage and to mitigate the impact of disruption risks by minimizing the potential worst-case cost. As a result a resilient supply portfolio is identified with protected suppliers capable of supplying parts in the face of disruptive events. A stochastic MIP approach is proposed to determine risk-neutral, risk-averse, or mean-risk supply portfolios, with Conditional Value-at-Risk applied to control the risk of worst-case cost. Numerical examples are presented and some computational results are reported. The major managerial insights are provided at the end of this chapter.

Suggested Citation

  • Tadeusz Sawik, 2020. "Selection of Resilient Supply Portfolio," International Series in Operations Research & Management Science, in: Supply Chain Disruption Management, edition 2, chapter 0, pages 77-108, Springer.
    • Handle: RePEc:spr:isochp:978-3-030-44814-1_4
    DOI: 10.1007/978-3-030-44814-1_4
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    Cited by:

    1. Morteza Yazdani & Dragan Pamucar & Prasenjit Chatterjee & Ali Ebadi Torkayesh, 2022. "“A multi-tier sustainable food supplier selection model under uncertainty”," Operations Management Research, Springer, vol. 15(1), pages 116-145, June.
    2. Li, Yi & Shou, Biying, 2021. "Managing supply risk: Robust procurement strategy for capacity improvement," Omega, Elsevier, vol. 102(C).
    3. Liu, Ming & Liu, Zhongzheng & Chu, Feng & Dolgui, Alexandre & Chu, Chengbin & Zheng, Feifeng, 2022. "An optimization approach for multi-echelon supply chain viability with disruption risk minimization," Omega, Elsevier, vol. 112(C).
    4. Ivanov, Dmitry & Keskin, Burcu B., 2023. "Post-pandemic adaptation and development of supply chain viability theory," Omega, Elsevier, vol. 116(C).
    5. Sawik, Tadeusz, 2022. "Stochastic optimization of supply chain resilience under ripple effect: A COVID-19 pandemic related study," Omega, Elsevier, vol. 109(C).
    6. Aida Rezaei & Amir Aghsami & Masoud Rabbani, 2021. "Supplier selection and order allocation model with disruption and environmental risks in centralized supply chain," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 12(6), pages 1036-1072, December.

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