Optimal risk mitigation planning for supply chain disruption

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    1 Citation (Scopus)

    Abstract

    In this paper, we consider the problem of finding a supply chain configuration with minimum risk and investment for risk mitigations. We have developed a simulation model considering disruption. We use this simulation model to evaluate supply chain risk. We propose three risk mitigation strategies: duplication, stabilization, and absorption. We used simulated annealing to find the optimal combinations of these mitigation plans. In a case study, we applied our model to a digital camera supply chain, and show how our model can be applied to obtain a proper supply chain configuration.

    Original languageEnglish
    Pages (from-to)12-22
    Number of pages11
    JournalJournal of Japan Industrial Management Association
    Volume66
    Issue number1
    Publication statusPublished - 2015

    Keywords

    • Meta-Heuristics
    • Risk Management
    • Simulation
    • Supply Chain Management

    ASJC Scopus subject areas

    • Industrial and Manufacturing Engineering
    • Applied Mathematics
    • Management Science and Operations Research
    • Strategy and Management

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