Abstract
The paper considers a complex real-world supply network with one manufacturer and 19 of first tier suppliers and demand for one end product. Uncertainties in supply delivery time and non-conformance of supplied components are modelled using fuzzy numbers. Uncertainty in supply is handled using safety stock and safety stock. A novel fuzzy, multi-objective optimization model for the supply network is developed. It includes three objectives: minimisation of the total supply network cost, minimisation of risk related to selected suppliers and maximization of fulfilment of the business strategy. Various experiments are carried out to demonstrate effectiveness of the proposed model.
| Original language | English |
|---|---|
| Title of host publication | Joining P&OM forces worldwide |
| Subtitle of host publication | present and future of operations management : proceedings |
| Place of Publication | Havana, Cuba |
| Publisher | 5th World Production and Operations Management Conference, P&OM |
| ISBN (Print) | 9789592615311 |
| Publication status | Published - 2016 |
| Event | 5th World Conference on Production and Operations Management - Havana, Cuba Duration: 6 Sep 2016 → 10 Sep 2016 |
Conference
| Conference | 5th World Conference on Production and Operations Management |
|---|---|
| Country | Cuba |
| City | Havana |
| Period | 6/09/16 → 10/09/16 |
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Cite this
Petrovic, D., & Kalata, M. (2016). Multi-objective optimization of total cost, risk and business fulfillment of a real-world supply network. In Joining P&OM forces worldwide : present and future of operations management : proceedings Havana, Cuba: 5th World Production and Operations Management Conference, P&OM.