Supply chain risk prioritisation using a hybrid AHP and PROMETHEE approach

S. Prasanna Venkatesan and S. Kumanan

International Journal of Services and Operations Management, 2012, vol. 13, issue 1, 19-41

Abstract: Supply chain is a network of facilities designed to procure, produce, and distribute goods to customers at right quantities, to the right locations and at the right time. Supply chain studies are focused for improving the operational efficiency through cost reduction. In recent years, supply chains have become increasingly vulnerable to risks resulting in poor financial performance and customer service. Managing the supply chain risks is a challenging task. Resilience and responsiveness-based strategies are being attempted to build a robust supply chain. To select and evaluate the appropriate mitigation strategies, supply chain risks are to be prioritised. Supply chain risk prioritisation is a multi criteria decision making (MCDM) problem. Developing the MCDM models for supply chain risk prioritisation need attention. In this research a hybrid analytic hierarch process (AHP) and preference ranking organisation method for enrichment evaluation (PROMETHEE) approach is proposed for supply chain risk prioritisation. A case example of a typical plastic industry is presented to illustrate the performance of the proposed approach.

Keywords: supply chain performance; performance measures; supply chain risk; risk management; risk prioritisation; multicriteria decision making; MCDM; hybrid AHP; analytical hierarchy process; PROMETHEE; supply chain management; SCM; plastics industry; plastics supply chains. (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (6)

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