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Article: A distributed decision making model for risk management of virtual enterprise

TitleA distributed decision making model for risk management of virtual enterprise
Authors
KeywordsDistributed Decision Making
Particle Swarm Optimization
Risk management
Two-level model
Virtual Enterprise
Issue Date2011
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/eswa
Citation
Expert Systems With Applications, 2011, v. 38 n. 10, p. 13208-13215 How to Cite?
AbstractRisk management in a Virtual Enterprise (VE) is an important issue due to its agility and diversity of its members and its distributed characteristics. In this paper, we develop a risk management model for the VE. More specifically, we introduce a Distributed Decision Making (DDM) model for risk management of the VE. The model has two levels, namely, the top model and the base model, which describe the decision processes of the owner and the partners of the VE, respectively. It can be regarded as a combination of both the top-down and bottom-up approaches for risk management of the VE. Here we focus on the case of symmetry information between the owner and the partners. A Particle Swarm Optimization (PSO) algorithm is then designed to solve the resulting optimization problem. The result shows that the proposed algorithm is effective and the two-level model can help improve the description of the relationship between the owner and the partners, which is helpful to reduce the risk of the VE. © 2010 Elsevier Ltd. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/134407
ISSN
2015 Impact Factor: 2.981
2015 SCImago Journal Rankings: 1.839
ISI Accession Number ID
Funding AgencyGrant Number
National Natural Science Foundation of China71071028
71021061
70931001
61070162
Specialized Research Fund for the Doctoral Program of Higher Education20070145017
20100042110025
Fundamental Research Funds for the Central UniversitiesN090504006
N090504003
RGC7017/07P
HKU CRCG
Hung Hing Ying Physical Sciences Research Fund
HKU
Funding Information:

The authors thank the support of the National Natural Science Foundation of China under Grant No. 71071028, No. 71021061, No. 70931001 and No. 61070162, Specialized Research Fund for the Doctoral Program of Higher Education under Grant No. 20070145017 and No. 20100042110025, the Fundamental Research Funds for the Central Universities under Grant No. N090504006 and No. N090504003, and RGC Grant 7017/07P, HKU CRCG Grants, Hung Hing Ying Physical Sciences Research Fund and HKU Strategic Research Theme Fund on Computational Physics and Numerical Methods.

References

 

DC FieldValueLanguage
dc.contributor.authorHuang, Men_HK
dc.contributor.authorLu, FQen_HK
dc.contributor.authorChing, WKen_HK
dc.contributor.authorSiu, TKen_HK
dc.date.accessioned2011-06-17T09:19:56Z-
dc.date.available2011-06-17T09:19:56Z-
dc.date.issued2011en_HK
dc.identifier.citationExpert Systems With Applications, 2011, v. 38 n. 10, p. 13208-13215en_HK
dc.identifier.issn0957-4174en_HK
dc.identifier.urihttp://hdl.handle.net/10722/134407-
dc.description.abstractRisk management in a Virtual Enterprise (VE) is an important issue due to its agility and diversity of its members and its distributed characteristics. In this paper, we develop a risk management model for the VE. More specifically, we introduce a Distributed Decision Making (DDM) model for risk management of the VE. The model has two levels, namely, the top model and the base model, which describe the decision processes of the owner and the partners of the VE, respectively. It can be regarded as a combination of both the top-down and bottom-up approaches for risk management of the VE. Here we focus on the case of symmetry information between the owner and the partners. A Particle Swarm Optimization (PSO) algorithm is then designed to solve the resulting optimization problem. The result shows that the proposed algorithm is effective and the two-level model can help improve the description of the relationship between the owner and the partners, which is helpful to reduce the risk of the VE. © 2010 Elsevier Ltd. All rights reserved.en_HK
dc.languageengen_US
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/eswaen_HK
dc.relation.ispartofExpert Systems with Applicationsen_HK
dc.subjectDistributed Decision Makingen_HK
dc.subjectParticle Swarm Optimizationen_HK
dc.subjectRisk managementen_HK
dc.subjectTwo-level modelen_HK
dc.subjectVirtual Enterpriseen_HK
dc.titleA distributed decision making model for risk management of virtual enterpriseen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0957-4174&volume=38&issue=10&spage=13208–13215&epage=&date=2011&atitle=A+distributed+decision+making+model+for+risk+management+of+virtual+enterprise-
dc.identifier.emailChing, WK:wching@hku.hken_HK
dc.identifier.authorityChing, WK=rp00679en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.eswa.2011.04.135en_HK
dc.identifier.scopuseid_2-s2.0-79958011978en_HK
dc.identifier.hkuros185623en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-79958011978&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume38en_HK
dc.identifier.issue10en_HK
dc.identifier.spage13208en_HK
dc.identifier.epage13215en_HK
dc.identifier.isiWOS:000292169500132-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridHuang, M=26643214600en_HK
dc.identifier.scopusauthoridLu, FQ=22734918400en_HK
dc.identifier.scopusauthoridChing, WK=13310265500en_HK
dc.identifier.scopusauthoridSiu, TK=8655758200en_HK
dc.identifier.citeulike9288280-

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