It is necessary to research on how to manage risks in Chinese chemical industry supply chain effectively. After analyzing supply chain risks and mitigation strategies in Chinese chemical industry supply chain, firstly this paper defines the supply chain risk management problem in Chinese chemical industry. Then this paper develops a stochastic chance-constrained programming model to select optimal mitigation strategies effectively to achieve risk reduction goals without exceeding the expenses budget. Finally, this paper gives a numerical example and discusses how the change of model parameter affects the optimal solution.
Digital Object Identifier (DOI)
Liu, Liping; Li, Shuxia; and Wu, Yifan
"Supply Chain Risk Management in Chinese Chemical Industry based on Stochastic Chance-Constrained Programming Model,"
Applied Mathematics & Information Sciences: Vol. 08
, Article 33.
Available at: https://dc.naturalspublishing.com/amis/vol08/iss3/33