Stochasticmulti-sitesupplychainplanningintextile andapparelindustryunderdemandandpriceuncertainties withriskaversion

Collection Location Koleksi E-book & E-Journal Perpustakaan Pusat Unila
Edition vol.271issue 2
Call Number
ISBN/ISSN 15729338
Author(s) Felfel, Houssem...[et...al]
Subject(s) Business and Management
Classification NONE
Series Title
GMD E-Journal
Language English
Publisher Springer
Publishing Year 2018
Publishing Place Switzerland
Collation
Abstract/Notes Abstract A multi-product, multi-period, multi-site supply chain production and transportation planning problem, in the textile and apparel industry, under demand and price uncertainties is considered in this paper. The problem is formulated using a two-stage stochastic programming model taking into account the production amount, the inventory and backorder levels as well as the amounts of products to be transported between the different plants and customers in each period. Risk management is addressed by incorporating a risk measure into the stochastic programming model as a second objective function, which leads to a multiobjective optimization model. The objectives aim to simultaneously maximize the expected net profit and minimize the financial risk measured. Two risk measures are compared: the conditional-value-at-risk and the downside risk. As the considered objective functions conflict with each other’s, the problem solution is a front of Pareto optimal robust alternatives, which represents the trade-off among the different objective functions. A case study using realdatafromtextileandapparelindustryinTunisiaispresentedtoillustratetheeffectiveness of the proposed model and the robustness of the obtained solutions. Keywords Multi-site supply chain·Textile and apparel industry·Multi-objective optimization·Stochastic programming·Risk management
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