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A comprehensive decision-making model for risk management of supply chain

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Xia, De and Chen, Bo. (2011) A comprehensive decision-making model for risk management of supply chain. Expert Systems with Applications, Volume 38 (Number 5). pp. 4957-4966. ISSN 09574174

Full text not available from this repository.

Official URL: http://dx.doi.org/10.1016/j.eswa.2010.09.156

Abstract

Risk management of a supply chain (SC) has a great influence on the stability of dynamic cooperation among SC partners and hence very important for the performance of the SC operations as a whole. A suitable decision-making model is the cornerstone for the efficiency of SC risk management. We propose in this paper a decision-making model based on the internal triggering and interactive mechanisms in an SC risk system, which takes into account dual cycles, the operational process cycle (OPC) and the product life cycle (PLC). We explore the inter-relationship among the two cycles, SC organizational performance factors (OPF) and available risk operational practice (ROP), as well as the risk managerial elements in OPC and PLC. In particular, three types of relationship, bilateral, unilateral and inter-circulative ones, are analyzed and verified. We build this dynamic relation into SC risk managerial logic and design a corresponding decision-making path. Based on the analytic network process (ANP), a methodology is designed for an optimal selection of risk management methods and tools. A numerical example is provided as an operational guideline for how to apply it to tailor operational tactics in SC risk management. The results verify that this strategic decision model is a feasible access to the suitable risk operational tactics for practitioners. (C) 2010 Elsevier Ltd. All rights reserved.

Item Type:

Journal Article

Subjects:

H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management

Divisions:

Faculty of Social Sciences > Warwick Business School

Library of Congress Subject Headings (LCSH):

Business logistics, Risk management, Decision making -- Mathematical models, Product life cycle

Journal or Publication Title:

Expert Systems with Applications

Publisher:

Pergamon-Elsevier Science Ltd.

ISSN:

09574174

Official Date:

May 2011

Dates:

Date	Event
May 2011	Published

Volume:

Volume 38

Number:

Number 5

Page Range:

pp. 4957-4966

Identification Number:

10.1016/j.eswa.2010.09.156

Status:

Peer Reviewed

Publication Status:

Published

Access rights to Published version:

Restricted or Subscription Access

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