Multi-objective Robust Operation Model for a Supply Chain with Market Demands and Raw Material Price Uncertainty

Li-ping Yu (), Li-jun Li and Xiao-yuan Huang
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Li-ping Yu: Northeastern University
Li-jun Li: Northeastern University
Xiao-yuan Huang: Northeastern University

Chapter Chapter 11 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 109-119 from Springer

Abstract: Abstract In this paper, the operation of a multi-product and multi-period supply chain involving one producer and one supplier with uncertain market demands and raw material price is considered. With variations in the market demands and raw material price described by using an interval uncertainty method, a multi-objective robust optimization model is established using a robust linear programming approach. A numerical example is used to verify the proposed model, and the optimum robust operating strategy is determined for worst case supply chain conditions during an uncertain market demands and raw material price. When robust measures are adopted in the objectives of supply chain coordination and profit was maximized for all participants, the effect of market demands and raw material price uncertainty on objective values decreased significantly.

Keywords: Objective programming; Raw material price; Robust optimization; Supply chain operation; Uncertainty (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-37270-4_11

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DOI: 10.1007/978-3-642-37270-4_11

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