Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach

<!DOCTYPE html>    <html>  <head> <meta charset="utf-8" /> <title>Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach</title>  <link rel="shortcut icon" type="image/ico" href="./data/ijsom/coversheet/favicon.ico" />  <meta name="viewport" content="width=device-width, maximum-scale=1, initial-scale=1, user-scalable=0" />   <meta name="keywords" content="Supply chain,risk analysis,simulation-optimization,substitutable product,global factors" /> <meta name="description" content="Increasing uncertainties in the supply chains have caused more attentions to the supply chain risk management approaches. Because of the inherent turbulences in the international transactions, these uncertainties in the global context are more important. On the other hand, due to competitive pressures, businesses has been prepared themselves to operate in a global context to take advantage of the international markets. In addition, supplier selection is a challenge for purchasing managers by having more uncertainties in supply from the foreign supplier (exchange rate risk, extended lead times, regional risks). On the other hand, lower price procurement and having more diversified suppliers are the benefits that a company could obtain from global supply chains. In this paper a scenario based supply chain model for global purchasing of substitutable products is introduced and as a solution method a simulation-optimization approach is proposed. The model is applied on the modified data adopted from a case study and sensitivity analyzes (on the risk attitude of retailers, product substitutability and exchange rate) are presented for different amounts of parameters." /> <meta name="title" content="Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach" /> <meta name="googlebot" content="NOODP" /> <meta name="citation_title" content="Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach" /> <meta name="citation_author" content="Hajian Heidary, Mojtaba" /> <meta name="citation_author_institution" content="Faculty of Management and Accounting, Allameh Tabataba&#039;i University" /> <meta name="citation_abstract" content="Increasing uncertainties in the supply chains have caused more attentions to the supply chain risk management approaches. Because of the inherent turbulences in the international transactions, these uncertainties in the global context are more important. On the other hand, due to competitive pressures, businesses has been prepared themselves to operate in a global context to take advantage of the international markets. In addition, supplier selection is a challenge for purchasing managers by having more uncertainties in supply from the foreign supplier (exchange rate risk, extended lead times, regional risks). On the other hand, lower price procurement and having more diversified suppliers are the benefits that a company could obtain from global supply chains. In this paper a scenario based supply chain model for global purchasing of substitutable products is introduced and as a solution method a simulation-optimization approach is proposed. The model is applied on the modified data adopted from a case study and sensitivity analyzes (on the risk attitude of retailers, product substitutability and exchange rate) are presented for different amounts of parameters." /> <meta name="citation_id" content="2900" /> <meta name="citation_publication_date" content="2023/11/01" /> <meta name="citation_date" content="2023-11-01" /> <meta name="citation_journal_title" content="International Journal of Supply and Operations Management" /> <meta name="citation_issn" content="23831359" /> <meta name="citation_volume" content="10" /> <meta name="citation_issue" content="4" /> <meta name="citation_firstpage" content="501" /> <meta name="citation_lastpage" content="522" /> <meta name="citation_publisher" content="Kharazmi University" /> <meta name="citation_doi" content="10.22034/ijsom.2023.108989.2110" /> <meta name="DC.Identifier" content="10.22034/ijsom.2023.108989.2110" /> <meta name="citation_abstract_html_url" content="http://www.ijsom.com/article_2900.html" /> <meta name="citation_pdf_url" content="http://www.ijsom.com/article_2900_cd08e8ba50665d2408975cec1111469b.pdf" /> <meta name="DC.Title" content="Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach" /> <meta name="DC.Source" content="International Journal of Supply and Operations Management" /> <meta name="DC.Date" content="01/11/2023" /> <meta name="DC.Date.issued" content="2023-11-01" /> <meta name="DC.Format" content="application/pdf" /> <meta name="DC.Contributor" content="Hajian Heidary, Mojtaba" /> <meta name="og:title" content="Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach" /> <meta name="og:description" content="Increasing uncertainties in the supply chains have caused more attentions to the supply chain risk management approaches. Because of the inherent turbulences in the international transactions, these uncertainties in the global context are more important. On the other hand, due to competitive pressures, businesses has been prepared themselves to operate in a global context to take advantage of the international markets. In addition, supplier selection is a challenge for purchasing managers by having more uncertainties in supply from the foreign supplier (exchange rate risk, extended lead times, regional risks). On the other hand, lower price procurement and having more diversified suppliers are the benefits that a company could obtain from global supply chains. In this paper a scenario based supply chain model for global purchasing of substitutable products is introduced and as a solution method a simulation-optimization approach is proposed. 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Because of the inherent turbulences in the international transactions, these uncertainties in the global context are more important. On the other hand, due to competitive pressures, businesses has been prepared themselves to operate in a global context to take advantage of the international markets. In addition, supplier selection is a challenge for purchasing managers by having more uncertainties in supply from the foreign supplier (exchange rate risk, extended lead times, regional risks). On the other hand, lower price procurement and having more diversified suppliers are the benefits that a company could obtain from global supply chains. In this paper a scenario based supply chain model for global purchasing of substitutable products is introduced and as a solution method a simulation-optimization approach is proposed. The model is applied on the modified data adopted from a case study and sensitivity analyzes (on the risk attitude of retailers, product substitutability and exchange rate) are presented for different amounts of parameters.</div> <p class="padding-0" style="margin:12px -2px 0 -2px"><strong>Keywords</strong></p> <ul class="block list-inline list-inline-seprator margin-bottom-6 ltr"> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=105097&_kw=supply+chain" >supply chain</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=106377&_kw=risk+analysis" >risk analysis</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=106378&_kw=simulation-optimization" >simulation-optimization</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=106379&_kw=substitutable+product" >substitutable product</a> </li> <li class="padding-3"> <a class="tag_a" href="./?_action=article&kw=106380&_kw=global+factors" >global factors</a> </li> </ul> </div> <hr> <div class="page_break"></div> <div class="panel"> <div class="panel-heading card-header"> <h4 class="panel-title "> <a data-toggle="collapse" data-parent="#accordions" href="#collapsesRef"><i class="fa fa-plus"></i> References</a> </h4> </div> <div id="collapsesRef" class="panel-collapse collapse"> <div class="panel-body justify"> <div class="padding-3 margin-top-3 ltr justify">Amin S.H., Baki F. 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Stochastic programming approach to global supply chain management under random additive demand<em>, Operational Research</em>, 18, pp. 389–420. </div> <div class="padding-3 margin-top-3 ltr justify">  </div> <div class="padding-3 margin-top-3 ltr justify">Zhu, Q., Krikke, H. and Caniëls, M.C.J. (2017). 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(2023). Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach. <em>International Journal of Supply and Operations Management</em>, 10(4), 501-522. doi: 10.22034/ijsom.2023.108989.2110</p> </div> </div> </div> </div> <div id="cite-mla" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">MLA</h4> </div>  <div class="modal-body"> <p>Mojtaba Hajian Heidary. "Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach". <em>International Journal of Supply and Operations Management</em>, 10, 4, 2023, 501-522. doi: 10.22034/ijsom.2023.108989.2110</p> </div> </div> </div> </div> <div id="cite-harvard" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">HARVARD</h4> </div>  <div class="modal-body"> <p>Hajian Heidary, M. (2023). 'Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach', <em>International Journal of Supply and Operations Management</em>, 10(4), pp. 501-522. doi: 10.22034/ijsom.2023.108989.2110</p> </div> </div> </div> </div> <div id="cite-vancouver" class="modal fade" tabindex="-1" role="dialog" aria-labelledby="myModalLabel" aria-hidden="true"> <div class="modal-dialog"> <div class="modal-content">  <div class="modal-header"> <button type="button" class="close" data-dismiss="modal" aria-label="Close"><span aria-hidden="true">×</span></button> <h4 class="modal-title" id="myModalLabel">VANCOUVER</h4> </div>  <div class="modal-body"> <p>Hajian Heidary, M. Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach. <em>International Journal of Supply and Operations Management</em>, 2023; 10(4): 501-522. doi: 10.22034/ijsom.2023.108989.2110</p> </div> </div> </div> </div> </div> </div>   <section class="alternate padding-xxs"> </section>   <div class="container"> <footer id="footer"> <div class="scrollup" id="scroll" href="#"><span></span></div> <div class="row"> <div class="col-md-2">  <h4 class="">Explore Journal</h4> <ul class="footer-links list-unstyled"> <li id="fli_home"><a href="./">Home</a></li> <li id="fli_about"><a href="./journal/about">About Journal</a></li> <li id="fli_Edb"><a href="./journal/editorial.board">Editorial Board</a></li> <li id="fli_submit"><a href="./author">Submit Manuscript</a></li> <li id="fli_contactus"><a href="./journal/contact.us">Contact Us</a></li> <li id="fli_glossary"><a href="./journal/glossary">Glossary</a></li> <li id="fli_order_hrdj"><a href="./journal/subscription.form">Hard Copy Subscription</a></li> <li id="fli_sitemap"><a href="./sitemap.xml?usr">Sitemap</a></li> </ul>  </div> <div class="col-md-3">  <h4 class="">Latest News</h4> <ul class="footer-posts list-unstyled"> <li> <a href="./news?newsCode=173">SD of ISC: Sustainable Development of Intelligent Supply Chains based on Trends and Future Directions: Application of Novel Solution Techniques</a> <small class="ltr">2023-03-05</small> </li> </ul>  </div> <div class="col-md-3">  <div><p><a title="Linkedin" href="http://www.linkedin.com/company/ijsom?trk=eml-cp_mktg-btn-welcome-20120607%2F"><img src="images/linkedin.jpg" alt="linkedin" /></a></p></div>  </div> <div class="col-md-4">  <h4 class="">Newsletter Subscription</h4> <p>Subscribe to the journal newsletter and receive the latest news and updates</p> <form class="validate" action="" method="post" data-success="Subscription saved successfully." data-toastr-position="bottom-right"> <input type="hidden" name="_token" value="3e5c30b07e2f6225baae5880d062745b8688e521f62c5c99"/> <div class="input-group"> <span class="input-group-addon"><i class="fa fa-envelope"></i></span> <input type="email" id="email" name="email" required="required" class="form-control required sbs_email" placeholder="Enter your Email" oninvalid="this.setCustomValidity('Enter a valid email address.')" oninput="this.setCustomValidity('')"> <span class="input-group-btn"> <button class="btn btn-primary mybtn" type="submit">Subscribe</button> </span> </div> </form>   <div class="margin-top-20"> <a class="noborder" href="" target="_blank" class="social-icon social-icon-border social-facebook pull-left block" data-toggle="tooltip" data-placement="top" title="Facebook"> <i class="fa fa-facebook-square" aria-hidden="true"></i> </a> <a class="noborder" href="" target="_blank" class="social-icon social-icon-border social-facebook pull-left block" data-toggle="tooltip" data-placement="top" title="Twitter"> <i class="fa fa-twitter-square" aria-hidden="true"></i> </a> <a class="noborder" href="" target="_blank" class="social-icon social-icon-border social-facebook pull-left block" data-toggle="tooltip" data-placement="top" title="Linkedin"> <i class="fa fa-linkedin-square" aria-hidden="true"></i> </a> <a class="noborder" href="./ju.rss" class="social-icon social-icon-border social-rss pull-left block" data-toggle="tooltip" data-placement="top" title="Rss"><i class="fa fa-rss-square" aria-hidden="true"></i></a> </div> </div> </div> <div class="copyright" style="position: relative"> <ul class="nomargin list-inline mobile-block"> <li>© Journal Management System. <span id='sp_crt'>Powered by <a target='_blank' href='https://www.sinaweb.net/'>Sinaweb</a></span></li> </ul> </div> </footer> </div>  </div>   <a href="#" id="toTop_old"></a>  <div id="preloader"> <div class="inner"> <span class="loader"></span> </div> </div>  <script type="text/javascript">var plugin_path = './themes/base/front/assets/plugins/';</script> <script type="text/javascript" src="./themes/base/front/assets/js/scripts.js?v=0.02"></script>   <script type="text/javascript"> $('ul.nav li.dropdown').hover(function() { if (window.matchMedia('(max-width: 767px)').matches) return; 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Risk Assessment in the Global Supplier Selection Considering Supply Disruption: A Simulation Optimization Approach