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Multi-objective Robust Operation Model for a Supply Chain with Market Demands and Raw Material Price Uncertainty

In: The 19th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Li-ping Yu

    (Northeastern University)

  • Li-jun Li

    (Northeastern University)

  • Xiao-yuan Huang

    (Northeastern University)

Abstract

In this paper, the operation of a multi-product and multi-period supply chain involving one producer and one supplier with uncertain market demands and raw material price is considered. With variations in the market demands and raw material price described by using an interval uncertainty method, a multi-objective robust optimization model is established using a robust linear programming approach. A numerical example is used to verify the proposed model, and the optimum robust operating strategy is determined for worst case supply chain conditions during an uncertain market demands and raw material price. When robust measures are adopted in the objectives of supply chain coordination and profit was maximized for all participants, the effect of market demands and raw material price uncertainty on objective values decreased significantly.

Suggested Citation

  • Li-ping Yu & Li-jun Li & Xiao-yuan Huang, 2013. "Multi-objective Robust Operation Model for a Supply Chain with Market Demands and Raw Material Price Uncertainty," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), The 19th International Conference on Industrial Engineering and Engineering Management, edition 127, chapter 0, pages 109-119, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-37270-4_11
    DOI: 10.1007/978-3-642-37270-4_11
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