Quantitative Risk Management Models for Newsvendor Supply Chains

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Author(s): Dimitrios Vlachos (Aristotle University of Thessaloniki, Greece)
Copyright: 2011
Pages: 16
Source title: Supply Chain Optimization, Design, and Management: Advances and Intelligent Methods
Source Author(s)/Editor(s): Ioannis Minis (University of the Aegean, Greece), Vasileios Zeimpekis (University of the Aegean, Greece), Georgios Dounias (University of the Aegean, Greece)and Nicholas Ampazis (University of the Aegean, Greece)
DOI: 10.4018/978-1-61520-633-9.ch007

Keywords: Business & Management / Business Science Reference / Operations and Service Management / Supply Chain Management

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Abstract

As the practices of offshoring and outsourcing force the supply chain networks to keep on expanding geographically in the globalised environment, the logistics processes are becoming more exposed to risk and disruptions. Thus, modern supply chains seem to be more vulnerable than ever. It is clear that efficient logistics risk and security management emerges as an issue of pivotal importance in such competitive, demanding and stochastic environment and is thus vital for the viability and profitability of a company. In this context, this chapter focuses on a set of stochastic quantitative models that study the impact of one or more supply chain disruptions on optimal determination of single period inventory control policies. The purpose of this research is to provide a critical review of state-of-the-art methodologies to be used as a starting point for further research efforts.

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Quantitative Risk Management Models for Newsvendor Supply Chains

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