Abstract
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 goa ls without exceeding the expenses budget. Finally, this paper gives a numerical example and discusses how the change of model parameter affects the optimal solution.
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