Cleaner Production in Optimized Multivariate Networks: Operations Management through a Roll of Dice

Amit K Chattopadhyay, Biswajit Debnath, Rihab El-Hassani, Sadhan Kumar Ghosh and Rahul Baidya

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Abstract: The importance of supply chain management in analyzing and later catalyzing economic expectations while simultaneously prioritizing cleaner production aspects is a vital component of modern finance. Such predictions, though, are often known to be less than accurate due to the ubiquitous uncertainty plaguing most business decisions. Starting from a multi-dimensional cost function defining the sustainability of the supply chain (SC) kernel, this article outlines a 4-component SC module - environmental, demand, economic, and social uncertainties - each ranked according to its individual weight. Our mathematical model then assesses the viability of a sustainable business by first ranking the potentially stochastic variables in order of their subjective importance, and then optimizing the cost kernel, defined from a utility function. The model will then identify conditions (as equations) validating the sustainability of a business venture. The ranking is initially obtained from an Analytical Hierarchical Process; the resultant weighted cost function is then optimized to analyze the impact of market uncertainty based on our supply chain model. Model predictions are then ratified against SME data to emphasize the importance of cleaner production in business strategies.

Date: 2020-02
New Economics Papers: this item is included in nep-upt
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