A comparative study of multi criteria decision making approaches for risks assessment in supply chain

2015 ◽  
Vol 18 (1) ◽  
pp. 67 ◽  
Author(s):  
Mahesh Chand ◽  
Tilak Raj ◽  
Ravi Shankar
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Comparative Study ◽  
Multi Criteria Decision Making ◽  
Risks Assessment

Supply Chain Risk Prioritization Using a Hybrid MCDM Approach

2012 ◽  
Vol 488-489 ◽  
pp. 406-410
Author(s):  
S. Prasanna Venkatesan ◽  
S. Kumanan
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Customer Service ◽  
Mitigation Strategies ◽  
Preference Ranking ◽  
Multi Criteria Decision Making ◽  
Supply Chain Risk ◽  
Risk Prioritization ◽  
Robust Supply Chain ◽  
Supply Chain Risks

In recent years, supply chains have become increasingly vulnerable to risks resulting in poor financial performance and customer service. Managing the supply chain risks is a challenging task. Resilience and responsiveness based strategies are being attempted to build a robust supply chain. To select the appropriate mitigation strategies, supply chain risks are to be prioritized. Supply chain risk prioritization is a Multi Criteria Decision Making (MCDM) problem. MCDM models for supply chain risk prioritization needs attention. In this research, a hybrid Analytic Hierarch Process (AHP) and Preference Ranking Organization METHod for Enrichment Evaluation (PROMETHEE) approach is proposed for supply chain risk prioritization. A case example of a typical tractor industry is presented to illustrate the performance of the proposed approach.

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