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Simultaneous treatment of risk and resilience
Citation Link: https://doi.org/10.15480/882.3973
Publikationstyp
Conference Paper
Date Issued
2021-12-01
Sprache
English
Author(s)
Herausgeber*innen
TORE-DOI
First published in
Number in series
31
Start Page
901
End Page
916
Citation
Hamburg International Conference of Logistics (HICL) 31: 901-916 (2021)
Contribution to Conference
Publisher
epubli
Peer Reviewed
true
Purpose: Supply chain management has a clear focus on risk management, but recent developments have shown that it is also important to pay attention to resilience. This paper introduces a systematic approach to simultaneously treat the two correlated quantities and can incorporate various notations of risk and resilience.
Methodology: A game theoretic model that allows simultaneous risk minimization and resilience maximation is proposed. Integration of existing supply chain risk and resilience measures is described to show its applicability. The intrinsic uncertainty of consequences of actions is explicitly taken into account by probabilistic payoffs.
Findings: The model provides a set of actions that provide optimal protection, depending the weight put on risk vs. resilience (i.e., how much weight is put on which of the two goals). The problem of putting such theoretical results into practice is discussed and illustrated with an example.
Originality: This work aims at improving existing best practice techniques to increase resilience by providing a systematic optimization method. It allows integration of existing resilience measures and is thus flexible to use.
Methodology: A game theoretic model that allows simultaneous risk minimization and resilience maximation is proposed. Integration of existing supply chain risk and resilience measures is described to show its applicability. The intrinsic uncertainty of consequences of actions is explicitly taken into account by probabilistic payoffs.
Findings: The model provides a set of actions that provide optimal protection, depending the weight put on risk vs. resilience (i.e., how much weight is put on which of the two goals). The problem of putting such theoretical results into practice is discussed and illustrated with an example.
Originality: This work aims at improving existing best practice techniques to increase resilience by providing a systematic optimization method. It allows integration of existing resilience measures and is thus flexible to use.
Subjects
Supply Chain Risk Management
Supply Chain Security
DDC Class
004: Informatik
330: Wirtschaft
380: Handel, Kommunikation, Verkehr
Publication version
publishedVersion
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König (2021) - Simultaneous Treatment of Risk and Resilience.pdf
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