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

Content Provider	IEEE Xplore Digital Library
Author	Sirivunnabood, S. Kumara, S.
Copyright Year	2009
Description	Author affiliation: Department of Industrial and Manufacturing Engineering, Penn State University, University Park, PA 16802, USA (Sirivunnabood, S.; Kumara, S.)
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, i.e. 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.
Starting Page	388
Ending Page	393
File Size	4007624
Page Count	6
File Format	PDF
ISBN	9781424435401
DOI	10.1109/SOLI.2009.5203964
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-07-22
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Procurement Java Costs Uncertainty Delay systems Supply chains Unified modeling language Discrete event simulation Risk management Standards development
Content Type	Text
Resource Type	Article

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