A Robust and Risk-Averse Medical Waste Chain Network Design by considering Viability requirements

Abstract

This research suggests a Robust and Risk-Averse Medical Waste Chain Network Design by considering Viability requirements (RRMWCNDV). The aim is to locate a waste management facility that minimizes waste and promotes the recycling of materials like metal and plastic, contributing to environmental benefits. The proposed RRMWCNDV aims to be viable, robust and risk-averse. A two-stage robust stochastic programming model was utilized to develop this framework. It incorporates risk by employing the Weighted Value at Risk (WVaR) approach for the first time. The study reveals that incorporating risk and robustness scenarios results in a lower cost function. The degree of conservatism in decision-making can be adjusted between 0% and 100%, increasing the cost function. The confidence level in WVaR indicates risk aversion, with an increase in the cost function with a 4% increase. The agility coefficient, which indicates the percentage of waste demand production from HC transferred to another facility, also affects the cost function and population risk. A decrease in the sustainability coefficient results in a 53% rise in the cost function and a 12.82% increase in population risk. The model demonstrates NP-hard characteristics and becomes exponentially complex for larger scales.