Comparison of mitigation strategies for supplier risks: A multi agent-based simulation approach

Satama Sirivunnabood, Soundar Rajan Tirupatikumara

Research output: Chapter in Book/Report/Conference proceedingConference contribution

5 Scopus citations

Abstract

Experiments on simulation models were conducted to determine appropriate risk mitigation strategies for a supply chain network under supplier risks. To model the supply chain network, an agent-based simulation model was designed and implemented using the Unified Modeling Language (UML) standard and Java Agent DEvelopment (JADE) platform respectively. In order to model the risks in the simulation models, unexpected events were randomly generated to mimic the risks that possibly occur in the supply chain. Particularly, four types of risks were considered, including rare and short, rare but long, frequent but short, and frequent and long risks. In addition, two risk mitigation strategies, Le, having a redundant supplier and reserving more inventory, were applied and compared. By considering average total operating cost and average product shortage, results are generated for appropriate mitigation strategy for each type of risk.

Original languageEnglish (US)
Title of host publication2009 IEEE/INFORMS International Conference on Service Operations, Logistics and Informatics, SOLI 2009
Pages388-393
Number of pages6
DOIs
StatePublished - Nov 19 2009
Event2009 IEEE/INFORMS International Conference on Service Operations, Logistics and Informatics, SOLI 2009 - Chicago, IL, United States
Duration: Jul 22 2009Jul 24 2009

Publication series

Name2009 IEEE/INFORMS International Conference on Service Operations, Logistics and Informatics, SOLI 2009

Other

Other2009 IEEE/INFORMS International Conference on Service Operations, Logistics and Informatics, SOLI 2009
CountryUnited States
CityChicago, IL
Period7/22/097/24/09

All Science Journal Classification (ASJC) codes

  • Information Systems
  • Information Systems and Management
  • Industrial and Manufacturing Engineering

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