Selection of resilient supply portfolio under disruption risks in supply chain

Mohsen Shafiei Nikabadi, Hanieh Shambayati and Nasim Ataei

International Journal of Industrial and Systems Engineering, 2021, vol. 37, issue 4, 432-462

Abstract: Nowadays, dependence of supply chain members while has provided many benefits for organisations, increases uncertainty and risk in the planning and organising activities. The risk of disrupting or failing to communicate with the supplier due to various disasters has occurred in recent years. In this regard, this study introduces a model of mixed integer programming (MIP), to provide resiliency under the terms of a portfolio's risk by minimising the disturbance conditional value at risk is optimised. A model with two meta-heuristic algorithm and using real data is solved and compared. The results showed that the two algorithms do not differ significantly in the value of the objective function. Also the resolution time for the harmony search algorithm was 8.87 seconds and the imperialist competition algorithm was 8.28 seconds. Based on the results in general, the performance of the imperialist competition algorithm, although slightly less, is better than a harmony search algorithm.

Keywords: conditional value at risk; disruption risk; imperialist competitive algorithm; harmony search algorithm; supply chain; supply portfolio; supplier selection; resilience. (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijisen:v:37:y:2021:i:4:p:432-462

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