A Simulation-Based Approach to Risk Assessment and Mitigation in Supply Chain Networks

Authors

Mamadou Seck, Old Dominion UniversityFollow
Ghaith Rabadi, Old Dominion UniversityFollow
Christian Koestler, Old Dominion University

Document Type

Article

Publication Date

2015

DOI

10.1016/j.procs.2015.09.161

Publication Title

Procedia Computer Science

Volume

61

Pages

98-104

Abstract

We present in this paper a simulation-based approach to evaluate the risk associated with supply chain disruptions caused by failures in some supply chains nodes and measure the impact of such disruptions on supply chain key performance measures (KPIs) of interest. The proposed framework enables analysts and managers to repeatedly assess the risk to their supply chains based on various simulated scenarios and identify the most critical nodes whose disruption will have the highest impact on the KPIs of interest. As a result, companies can focus on the most critical supply chain assets and develop targeted mitigation plans that minimize their risk. 2015 The Authors.

Comments

This is an open access article under the CC BY-NC-ND license:

http://creativecommons.org/licenses/by-nc-nd/4.0/

ORCID

0000-0001-8145-313X (Rabadi)

Original Publication Citation

Seck, M., Rabadi, G., & Koestler, C. (2015). A simulation-based approach to risk assessment and mitigation in supply chain networks. Procedia Computer Science, 61, 98-104. doi:10.1016/j.procs.2015.09.161

Repository Citation

Seck, Mamadou; Rabadi, Ghaith; and Koestler, Christian, "A Simulation-Based Approach to Risk Assessment and Mitigation in Supply Chain Networks" (2015). Engineering Management & Systems Engineering Faculty Publications. 10.
https://digitalcommons.odu.edu/emse_fac_pubs/10