Title :
An Optimized Model of Supply Chain Network Structure Based on CVaR Constraint
Author :
Zhong Changbao ; Wei Xiaoping
Author_Institution :
Sch. of Bus., Huaihai Inst. of Technol., Xuzhou, China
Abstract :
The past optimized model of SC network structure always choose not the risk, but rather the cost or customer satisfaction merely as the decision goal, which is not correspondent with practical decision. In order to supply scientific optimized model for decision makers preferring different risks, we introduced CVaR (conditional value-at-risk), a kind of recently developed instrument for measuring financial risks, to study the optimization of risk-avoiding SC network structure and to measure the risk of SC network. We also established a multi-objective optimized model taking respectively the risk and the cost of SC network as its decision goal to make the SC network built on this model more competitive.
Keywords :
decision making; financial management; optimisation; risk management; supply chains; CVaR constraint; conditional value-at-risk; customer satisfaction; decision making; financial risk measurement; optimization; supply chain network structure; Business communication; Constraint optimization; Contracts; Cost function; Customer satisfaction; Instruments; Mathematical model; Risk management; Supply chain management; Supply chains;
Conference_Titel :
Management and Service Science, 2009. MASS '09. International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-4638-4
Electronic_ISBN :
978-1-4244-4639-1
DOI :
10.1109/ICMSS.2009.5304560
