Abstract
In this work, we provide an overview of our previously published works on incorporating demand uncertainty in midterm planning of multisite supply chains. A stochastic programming based approach is described to model the planning process as it reacts to demand realizations unfolding over time. In the proposed bilevel-framework, the manufacturing decisions are modeled as ‘here-and-now’ decisions, which are made before demand realization. Subsequently, the logistics decisions are postponed in a ‘wait-and-see’ mode to optimize in the face of uncertainty. In addition, the trade-off between customer satisfaction level and production costs is also captured in the model. The proposed model provides an effective tool for evaluating and actively managing the exposure of an enterprises assets (such as inventory levels and profit margins) to market uncertainties. The key features of the proposed framework are highlighted through a supply chain planning case study.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
