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Selection of Resilient Multi-Tier Supply Portfolio

In: Supply Chain Disruption Management

Author

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  • Tadeusz Sawik

    (AGH University of Science and Technology
    Reykjavik University)

Abstract

A multi-portfolio approach and a scenario-based stochastic mixed integer program is developed for selection of resilient supply portfolio in a multi-tier supply chain under disruption risks. The resilience of the supply chain is achieved by selection of primary supply portfolio and by pre-positioning of risk mitigation inventory of parts at different tiers that will hedge against all disruption scenarios. Simultaneously for each disruption scenario recovery and transshipment portfolios are determined and decisions on usage the pre-positioned inventory are made. The objective of the risk-neutral decision-making is to minimize expected cost or maximize expected service level, while for the risk-averse decision-making, minimization of CVaR of cost or maximization of CVaR of service level are the two alternative objectives. Some properties of optimal solutions, derived from the proposed model provide additional managerial insights. The findings also indicate that the developed portfolio approach with an embedded network flow structure has led to computationally efficient mixed integer program with a very strong LP relaxation. The major managerial insights are summarized at the end of this chapter.

Suggested Citation

  • Tadeusz Sawik, 2020. "Selection of Resilient Multi-Tier Supply Portfolio," International Series in Operations Research & Management Science, in: Supply Chain Disruption Management, edition 2, chapter 0, pages 367-400, Springer.
    • Handle: RePEc:spr:isochp:978-3-030-44814-1_13
    DOI: 10.1007/978-3-030-44814-1_13
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    Cited by:

    1. Morteza Yazdani & Dragan Pamucar & Prasenjit Chatterjee & Ali Ebadi Torkayesh, 2022. "“A multi-tier sustainable food supplier selection model under uncertainty”," Operations Management Research, Springer, vol. 15(1), pages 116-145, June.
    2. Li, Yi & Shou, Biying, 2021. "Managing supply risk: Robust procurement strategy for capacity improvement," Omega, Elsevier, vol. 102(C).
    3. Aida Rezaei & Amir Aghsami & Masoud Rabbani, 2021. "Supplier selection and order allocation model with disruption and environmental risks in centralized supply chain," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 12(6), pages 1036-1072, December.
    4. Liu, Ming & Liu, Zhongzheng & Chu, Feng & Dolgui, Alexandre & Chu, Chengbin & Zheng, Feifeng, 2022. "An optimization approach for multi-echelon supply chain viability with disruption risk minimization," Omega, Elsevier, vol. 112(C).
    5. Ivanov, Dmitry & Keskin, Burcu B., 2023. "Post-pandemic adaptation and development of supply chain viability theory," Omega, Elsevier, vol. 116(C).
    6. Sawik, Tadeusz, 2022. "Stochastic optimization of supply chain resilience under ripple effect: A COVID-19 pandemic related study," Omega, Elsevier, vol. 109(C).

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