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AuthorSalem, Roba W.
AuthorHaouari, Mohamed
Available date2020-10-15T10:38:43Z
Publication Date2017
Publication NameInternational Journal of Production Research
AbstractWe investigate a three-echelon stochastic supply chain network design problem. The problem requires selecting suppliers, determining warehouses locations and sizing, as well as the material flows. The objective is to minimise the total expected cost. An important feature of the investigated problem is that both the supply and the demand are uncertain. We solve this problem using a simulation-optimisation approach that is based on a novel hedging strategy that aims at capturing the randomness of the uncertain parameters. To determine the optimal hedging parameters, the search process is guided by particle swarm optimisation procedure. We present the results of extensive computational experiments that were conducted on a large set of instances and that provide evidence that the proposed hedging strategy constitutes an effective viable solution approach.
PublisherTaylor and Francis Ltd.
Subjectdemand uncertainty
SubjectMonte Carlo method
Subjectparticle swarm optimisation
Subjectsimulation optimisation
Subjectsupply chain design
Subjectsupply uncertainty
TitleA simulation-optimisation approach for supply chain network design under supply and demand uncertainties
Issue Number7
Volume Number55

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