Optimal risk mitigation planning for supply chain disruption

    Research output: Contribution to journalArticle

    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

    Fingerprint

    Supply Chain
    Supply chains
    Planning
    Simulation Model
    Configuration
    Digital Camera
    Digital cameras
    Duplication
    Simulated annealing
    Simulated Annealing
    Stabilization
    Absorption
    Supply chain configuration
    Simulation model
    Supply chain disruptions
    Risk mitigation
    Evaluate
    Model
    Mitigation
    Supply chain

    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

    Cite this

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    title = "Optimal risk mitigation planning for supply chain disruption",
    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.",
    keywords = "Meta-Heuristics, Risk Management, Simulation, Supply Chain Management",
    author = "Shunichi Ohmori and Kazuho Yoshimoto",
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    AB - 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.

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