A stochastic model for risk management in global supply chain networks |
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| Authors: | Mark Goh Joseph YS Lim Fanwen Meng |
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| Institution: | 1. Department of Decision Sciences, National University of Singapore, 1 Business Link, Singapore 117592, Singapore;2. Department of Finance and Accounting, National University of Singapore, 1 Business Link, Singapore 117592, Singapore;3. The Logistics Institute – Asia Pacific, National University of Singapore, 7 Engineering Drive 1, Singapore 117574, Singapore |
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| Abstract: | With the increasing emphasis on supply chain vulnerabilities, effective mathematical tools for analyzing and understanding appropriate supply chain risk management are now attracting much attention. This paper presents a stochastic model of the multi-stage global supply chain network problem, incorporating a set of related risks, namely, supply, demand, exchange, and disruption. We provide a new solution methodology using the Moreau–Yosida regularization, and design an algorithm for treating the multi-stage global supply chain network problem with profit maximization and risk minimization objectives. |
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| Keywords: | Supply chains Risk Management Stochastic programming Moreau&ndash Yosida regularization |
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