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- Publisher Website: 10.1080/0740817X.2011.635178
- Scopus: eid_2-s2.0-84870886496
- WOS: WOS:000304871600001
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Article: Risk diversification and risk pooling in supply chain design
Title | Risk diversification and risk pooling in supply chain design |
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Authors | |
Keywords | Inventory sharing Facility location Stochastic programming Disruption management Supply chain design |
Issue Date | 2012 |
Citation | IIE Transactions (Institute of Industrial Engineers), 2012, v. 44, n. 8, p. 603-621 How to Cite? |
Abstract | Recent research has pointed out that the optimal strategies to mitigate supply disruptions and demand uncertainty are often mirror images of each other. In particular, risk diversification is favorable under the threat of disruptions and risk pooling is favorable under demand uncertainty. This article studies how dynamic sourcing in supply chain design provides partial benefits of both strategies. Optimization models are formulated for supply chain network design with dynamic sourcing under the risk of temporally dependent and temporally independent disruptions of facilities. Using computational experiments, it is shown that supply chain networks that allow small to moderate degrees of dynamic sourcing can be very robust against both disruptions and demand uncertainty. Insights are attained on the optimal degree of dynamic sourcing under different conditions. © 2012 "IIE". |
Persistent Identifier | http://hdl.handle.net/10722/296073 |
ISSN | 2018 Impact Factor: 2.884 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Mak, Ho Yin | - |
dc.contributor.author | Shen, Zuo Jun | - |
dc.date.accessioned | 2021-02-11T04:52:46Z | - |
dc.date.available | 2021-02-11T04:52:46Z | - |
dc.date.issued | 2012 | - |
dc.identifier.citation | IIE Transactions (Institute of Industrial Engineers), 2012, v. 44, n. 8, p. 603-621 | - |
dc.identifier.issn | 0740-817X | - |
dc.identifier.uri | http://hdl.handle.net/10722/296073 | - |
dc.description.abstract | Recent research has pointed out that the optimal strategies to mitigate supply disruptions and demand uncertainty are often mirror images of each other. In particular, risk diversification is favorable under the threat of disruptions and risk pooling is favorable under demand uncertainty. This article studies how dynamic sourcing in supply chain design provides partial benefits of both strategies. Optimization models are formulated for supply chain network design with dynamic sourcing under the risk of temporally dependent and temporally independent disruptions of facilities. Using computational experiments, it is shown that supply chain networks that allow small to moderate degrees of dynamic sourcing can be very robust against both disruptions and demand uncertainty. Insights are attained on the optimal degree of dynamic sourcing under different conditions. © 2012 "IIE". | - |
dc.language | eng | - |
dc.relation.ispartof | IIE Transactions (Institute of Industrial Engineers) | - |
dc.subject | Inventory sharing | - |
dc.subject | Facility location | - |
dc.subject | Stochastic programming | - |
dc.subject | Disruption management | - |
dc.subject | Supply chain design | - |
dc.title | Risk diversification and risk pooling in supply chain design | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1080/0740817X.2011.635178 | - |
dc.identifier.scopus | eid_2-s2.0-84870886496 | - |
dc.identifier.volume | 44 | - |
dc.identifier.issue | 8 | - |
dc.identifier.spage | 603 | - |
dc.identifier.epage | 621 | - |
dc.identifier.eissn | 1545-8830 | - |
dc.identifier.isi | WOS:000304871600001 | - |
dc.identifier.issnl | 0740-817X | - |