scholarly journals MODELLING OF FINANCIAL RESOURCE ALLOCATION FOR INCREASING THE SUPPLY CHAIN RESILIENCE USING MARKOV CHAINS

2021 ◽  
Vol 8 (2) ◽  
pp. 141-151
Author(s):  
Martin Čech ◽  
Radim Lenort
Keyword(s):  
Mathematical Model ◽  
Decision Making ◽  
Supply Chain ◽  
Markov Chains ◽  
Research Direction ◽  
Global Market ◽  
Supply Chain Resilience ◽  
Managerial Implications ◽  
Overall Performance ◽  
The Impact

The concept of supply chain resilience has arisen in response to changing conditions in the global market environment. Although supply chain resilience building is gaining increasing interest among the professional public and business practice, supporting decision-making in supply chain resilience building is still in its infancy. This article aims to present a mathematical model of the supply chain based on Markov chains to assess the impact of funds allocated to strengthening the supply chain’s resilience to its overall performance and thus support decision-making in the field. Mathematical model assumptions are presented, then a mathematical model of a linear supply chain is developed and generalized, tested and methodological recommendations are presented. To support the use of the model, a set of managerial implications is presented, benefits and limitations are discussed, and further research direction is defined.

scholarly journals A Decision Framework for Solar PV Panels Supply Chain in Context of Sustainable Supplier Selection and Order Allocation

2021 ◽  
Vol 13 (23) ◽  
pp. 13216
Author(s):  
Raja Awais Liaqait ◽  
Salman Sagheer Warsi ◽  
Taiba Zahid ◽  
Usman Ghafoor ◽  
Muhammad Shakeel Ahmad ◽  
...  
Keyword(s):  
Mathematical Model ◽  
Decision Making ◽  
Supply Chain ◽  
Supplier Selection ◽  
Mixed Integer ◽  
Solar Pv ◽  
Decision Framework ◽  
Order Allocation ◽  
Sustainable Supplier Selection ◽  
The Impact

Sustainable supplier selection and order allocation (SSSOA) is paramount to sustainable supply chain management. It is a complex multi-dimensional decision-making process augmented with the triple bottom line of sustainability. This research presents a multi-phase decision framework to address a SSSOA problem for the multi-echelon renewable energy equipment (Solar PV Panels) supply chain. The framework comprises of fuzzy Multi-Criteria Decision-Making techniques augmented with fuzzy multi-objective mixed-integer non-linear programming mathematical model. The various economic, environmental, and social objectives were optimized for a multi-period, multi-modal transportation network of the supply chain. The results show that among the various sustainable criteria selected in this study, product cost, environmental management system, and health and safety rights of employees are the most important for decision-makers. The results of the mathematical model highlighted the impact of multimodal transportation on overall cost, time, and environmental impact for all periods. An analysis of results revealed that transfer cost and customer clearance cost contribute significantly towards overall cost. Furthermore, defect rate was also observed to play a critical role in supplier selection and order allocation.

scholarly journals Supply Chain Decisions of Fresh Products for Competitive Suppliers with Traceability Technology

2021 ◽  
Vol 257 ◽  
pp. 02072
Author(s):  
Qi Zheng ◽  
Qian Xiao ◽  
Peiting Zhao
Keyword(s):  
Mathematical Model ◽  
Decision Making ◽  
Supply Chain ◽  
Technology Adoption ◽  
Cost Sharing ◽  
Supply Chain Coordination ◽  
Decentralized Decision Making ◽  
Fresh Products ◽  
The Impact ◽  
The Mathematical Model

This paper focuses on the impact of traceability technology adoption on supply chain coordination. We consider a fresh product supply chain consisting of two suppliers and one retailer with centralized and decentralized decision-making. Considering the factors of the tag cost of traceability technology and the freshness of the product, two scenarios-with and without traceability technology are analyzed. The mathematical model is applied to investigate the impact of applying traceability technology on decision-making and profit of supply chain when two suppliers compete. The results show that: (1) the fresh product supply chain with the traceability technology is more profitable than the case that without the traceability technology; (2) when the tag cost of the traceability technology is within the threshold, the supplier’s profit decreases with the increase of the tag cost, and it is always greater than the corresponding profit when comparing with the case that without adopting the traceability technology; (3) if the tag cost of the traceability technology is too high, the retailer can use cost sharing or bargaining with the supplier to encourage him to implement the technology.

scholarly journals A New Integrated Multi-Criteria Decision-Making Model for Resilient Supplier Selection

2022 ◽  
Vol 5 (1) ◽  
pp. 8
Author(s):  
Wan Yee Leong ◽  
Kuan Yew Wong ◽  
Wai Peng Wong
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Financial Stability ◽  
Supplier Selection ◽  
Selection Process ◽  
Research Direction ◽  
Multi Criteria Decision Making ◽  
Criteria Weights ◽  
Managerial Implications ◽  
Criteria Importance

Unexpected worldwide disruptions brought various challenges to supply chain management thus manipulating the research direction towards resilience. Since the supplier is one of the important supply chain elements, the challenges can be overcome through resilient supplier selection. Supplier selection is a multi-criteria decision-making problem where several criteria are involved. In this study, GRA-BWM-TOPSIS was proposed to evaluate resilient suppliers. Seven resilience criteria which were Quality, Lead Time, Cost, Flexibility, Visibility, Responsiveness and Financial Stability have been proposed and five experts were selected to provide judgments for the selection process. By using the proposed method, the criteria importance levels were obtained using GRA and the criteria weights were computed using BWM, together with a consistency test. TOPSIS was applied to evaluate the suppliers’ performances. Through a case study in a food manufacturing company, 10 suppliers were evaluated and ranked. A validation process was carried out and the managerial implications were provided to ensure the effectiveness of the proposed model. GRA-BWM-TOPSIS is suitable for resilient supplier selection when there are uncertainties and incomplete data.

The Impact of Bar Service Operation Practices on Organizational Performance in Indian Hotel Industry

2015 ◽  
Vol 8 (1) ◽  
Author(s):  
Mohinder C. Dhiman ◽  
Abhishek Ghai
Keyword(s):  
Organizational Performance ◽  
Hotel Industry ◽  
Demographic Variables ◽  
Study Results ◽  
Service Operation ◽  
Managerial Implications ◽  
Overall Performance ◽  
The Impact ◽  
The Relationship ◽  
Bivariate Test

The paper has a two fold purpose - examine the impact of bar service operation practices (BSOP) on organizational performance (OP) and study the relationship between organizational performance and demographic variables. Based on a survey of 362 bar managers perceptions on the impact of bar service operation practices on organizational performance were assessed by 59 practices and 6 demographic variables. Bivariate test and ANOVA were employed to test the working hypothesis in the study. Results indicated that there is a positive relationship between the bar service operation practices and organizational performance. Further, the results indicate some practical and managerial implications to improve organizational overall performance.

An empirical examination of firm financial performance along dimensions of supply chain resilience

2017 ◽  
Vol 40 (3) ◽  
pp. 254-269 ◽  
Author(s):  
Xun Li ◽  
Qun Wu ◽  
Clyde W. Holsapple ◽  
Thomas Goldsby
Keyword(s):  
Supply Chain ◽  
Financial Performance ◽  
Three Dimensions ◽  
Empirical Examination ◽  
Content Type ◽  
Supply Chain Resilience ◽  
Critical Dimensions ◽  
Firm Financial Performance ◽  
Supply Chain Agility ◽  
The Impact

Purpose This paper aims to investigate the impact of three critical dimensions of supply chain resilience, supply chain preparedness, supply chain alertness and supply chain agility, all aimed at increasing a firm’s financial outcomes. In a turbulent environment, firms require resilience in their supply chains to prepare for potential changes, detect changes and respond to actual changes, thus providing superior value. Design/methodology/approach Using survey data from 77 firms, this study develops scales for preparedness, alertness and agility. It then tests their hypothesized relationships with a firm’s financial performance. Findings The results reveal that the three dimensions of supply chain resilience (i.e. preparedness, alertness and agility) significantly impact a firm’s financial performance. It is also found that supply chain preparedness, as a proactive resilience capability, has a greater influence on a firm’s financial performance than the reactive capabilities including alertness and agility, suggesting that firms should pay more attention to proactive approaches for building supply chain resilience. Originality/value First, this study develops a comparatively comprehensive definition for supply chain resilience and explores its dimensionality. Second, this study provides empirically validated instruments for the dimensions of supply chain resilience. Third, this study is one of the first to provide empirical evidence for direct impact of supply chain resilience dimensions on a firm’s financial performance.

scholarly journals Mathematical model of the feedback between global supply chain disruption and COVID-19 dynamics

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Xingyu Li ◽  
Amin Ghadami ◽  
John M. Drake ◽  
Pejman Rohani ◽  
Bogdan I. Epureanu
Keyword(s):  
Mathematical Model ◽  
Supply Chain ◽  
Care Delivery ◽  
Global Supply Chain ◽  
Economic Losses ◽  
Chain Model ◽  
Supply Chain Disruption ◽  
Disease Networks ◽  
Resource Allocation Strategy ◽  
The Impact

AbstractThe pandemic of COVID-19 has become one of the greatest threats to human health, causing severe disruptions in the global supply chain, and compromising health care delivery worldwide. Although government authorities sought to contain the spread of SARS-CoV-2, by restricting travel and in-person activities, failure to deploy time-sensitive strategies in ramping-up of critical resource production exacerbated the outbreak. Here, we developed a mathematical model to analyze the effects of the interaction between supply chain disruption and infectious disease dynamics using coupled production and disease networks built on global data. Analysis of the supply chain model suggests that time-sensitive containment strategies could be created to balance objectives in pandemic control and economic losses, leading to a spatiotemporal separation of infection peaks that alleviates the societal impact of the disease. A lean resource allocation strategy can reduce the impact of supply chain shortages from 11.91 to 1.11% in North America. Our model highlights the importance of cross-sectoral coordination and region-wise collaboration to optimally contain a pandemic and provides a framework that could advance the containment and model-based decision making for future pandemics.

The impact of counterfeit risk management on healthcare supply chain performance: an empirical analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mauro Falasca ◽  
Scott Dellana ◽  
William J. Rowe ◽  
John F. Kros
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
The United States ◽  
Equation Modeling ◽  
Significant Positive Effect ◽  
Healthcare Organizations ◽  
Content Type ◽  
Overall Performance ◽  
The Impact ◽  
Positive Effect

PurposeThis study develops and tests a model exploring the relationship between supply chain (SC) counterfeit risk management and performance in the healthcare supply chain (HCSC).Design/methodology/approachIn the proposed theoretical model, HCSC counterfeit risk management is characterized by HCSC counterfeit risk orientation (HCRO), HCSC counterfeit risk mitigation (HCRM) and HCSC risk management integration (HRMI), while performance is represented by healthcare logistics performance (HLP) and healthcare organization overall performance (HOP). Partial least squares structural equation modeling (PLS-SEM) and survey data from 55 HCSC managers are used to test the research hypotheses.FindingsHCRO has a significant positive effect on HCRM, while HCRM has a positive impact on HRMI. With respect to HLP, HCRM has a nonsignificant effect, while HRMI has a significant impact, thus confirming the important mediating role of HRMI. Finally, HLP has a significant positive effect on the overall performance of healthcare organizations.Research limitations/implicationsAll study participants were from the United States, limiting the generalizability of the study findings to different countries or regions. The sample size employed in the study did not allow the authors to distinguish among the different types of healthcare organizations.Originality/valueThis study delineates between a healthcare organization's philosophy toward counterfeiting risks vs actions taken to eliminate or reduce the impact of counterfeiting on the HCSC. By offering firm-level guidance for managers, this study informs healthcare organizations about addressing the challenge of counterfeiting in the HCSC.

Supply chain integration and firm performance: an empirical study of Swedish manufacturing firms

2014 ◽  
Vol 24 (1) ◽  
pp. 20-31 ◽  
Author(s):  
Hooshang M. Beheshti ◽  
Pejvak Oghazi ◽  
Rana Mostaghel ◽  
Magnus Hultman
Keyword(s):  
Supply Chain ◽  
Financial Performance ◽  
Well Being ◽  
Survey Instrument ◽  
Global Market ◽  
Manufacturing Firms ◽  
Supply Chain Integration ◽  
Manufacturing Companies ◽  
Content Type ◽  
The Impact

Purpose – This article aims to explore the impact of supply chain integration on the financial performance of Swedish manufacturing firms. Design/methodology/approach – The literature review provided the foundation for the development of the survey instrument and hypotheses for the study. In addition, the survey instrument was tested by the experts in the field and modified before it was sent to the managers in the survey group. Findings – The findings show that supply chain integration at any level is beneficial to the financial well being of the firm. Companies with total supply chain integration reported the highest level of financial performance. Research limitations/implications – Data were collected from Swedish manufacturing firms without regard to the size of the firm. The results show that supply chain integration is beneficial at any level. Practical implications – The findings will assist managers with decisions regarding supply chain integration and its role as a critical factor in improving the financial performance of manufacturing companies. Originality/value – Limited empirical studies have been conducted in this area, especially in Sweden. This study provides insight for manufacturing managers with regard to the importance of supply chain management and the competitive nature of business in the global market.

scholarly journals Developing Knowledge of Supply Chain Resilience in Less-Developed Countries in the Pandemic Age

Logistics ◽  
2022 ◽  
Vol 6 (1) ◽  
pp. 3
Author(s):  
João M. Lopes ◽  
Sofia Gomes ◽  
Lassana Mané
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Qualitative Methodology ◽  
Developed Countries ◽  
Less Developed Countries ◽  
Structured Interviews ◽  
Developed Country ◽  
Supply Chain Resilience ◽  
Guinea Bissau ◽  
The Impact

The constraints imposed by the pandemic COVID-19 increased the risks of the disruption of supply chains, bringing new challenges to companies. These effects were felt more intensely in less-developed countries, which are highly dependent on imports of products and raw materials. This study aims to assess the impact of supply chain resilience in a less-developed country (Guinea-Bissau) using complex adaptive system theory. We used a qualitative methodology through multiple case studies. Semi-structured interviews were conducted with four companies. The semi-structured script contains questions about supply chain disruptions, vulnerabilities and resilience. The main results show that the companies in Guinea-Bissau, due to their dependence on the outside world and the absence of formal, larger and more diversified supply chains, suffered serious consequences with the disruption imposed by the pandemic. It was also concluded that the more resilient the supply chain, the fewer the impacts of crisis events and that the resilience of companies at this level depends on their obtaining competitive advantages over their competitors. The main practical implications of this study are the need to formalize the supply chain, diversify the supply of services and products of companies dependent on the exterior, adopt metrics that allow for the early detection of situations of supply chain disruption, effectively manage stocks and promote proactive crisis resolution strategies. Studies on the impact of resilience on supply chains in crises are scarce, especially on companies located in underdeveloped countries.

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