Agent-Based Modeling and Simulation for Supply Chain Risk Management - A Survey of the State-of-the-Art

Due to the complex nature and numerous interacting factors that contributes to the increased vulnerability of supply chains, traditional methods have been found to be inadequate for Supply Chain Risk Management (SCRM). Agent-Based Modeling and Simulation (ABMS), an agent-oriented approach to model and simulate complex adaptive systems, represents a recent development in supply chain planning that has been regarded highly appropriate for studying risk management [1-4]. The objective of this paper is to provide a multi-perspective survey of the state-of-the-art agent based modeling and simulation approaches for SCRM.