A Decision Support Model for Mitigating Supply Chain Risks Based on a Modified FMEA, Multi-Objective Optimization and Multi-Criteria Decision-Making Approach
{"title":"A Decision Support Model for Mitigating Supply Chain Risks Based on a Modified FMEA, Multi-Objective Optimization and Multi-Criteria Decision-Making Approach","authors":"Nabil Kayouh, B. Dkhissi","doi":"10.2478/mspe-2024-0010","DOIUrl":null,"url":null,"abstract":"\n Recent years have seen a huge development in the subject of supply chain risk management. In this increasingly uncertain world, the use of practical and effective tools for decision making and risk mitigation has become more necessary than ever. In this research, mitigation strategies for a tier one multinational company operating in the automotive industry and providing an assembly operation to final customer Renault Tanger and Renault SOMACA were prioritized according to their effectiveness, as well as their implementation costs. Based on research in the literature and the opinions of experts in the field. 44 risks and 55 mitigation strategies were identified. FMEA (Failure Modes and Effects Analysis) method was used based on the latest AIAG 2019 edition to filter and identify the risks to be prioritized, we used then a multi-objective optimization approach to identify the mitigation strategies that constitute the Pareto front for each of the risks and finally used the EDAS method for the final ranking of the strategies. Our case revealed that strategies like ensuring elaborating a contingency planning and defining the responsibilities, imposing contractual obligations on subcontractors, applying a flexible supply contract were found to be relevant risk mitigation strategies for the company. Managers interested in mitigating risk can deploy this model to prioritize risk mitigation strategies.","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":"38 21","pages":""},"PeriodicalIF":16.4000,"publicationDate":"2024-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2478/mspe-2024-0010","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
Recent years have seen a huge development in the subject of supply chain risk management. In this increasingly uncertain world, the use of practical and effective tools for decision making and risk mitigation has become more necessary than ever. In this research, mitigation strategies for a tier one multinational company operating in the automotive industry and providing an assembly operation to final customer Renault Tanger and Renault SOMACA were prioritized according to their effectiveness, as well as their implementation costs. Based on research in the literature and the opinions of experts in the field. 44 risks and 55 mitigation strategies were identified. FMEA (Failure Modes and Effects Analysis) method was used based on the latest AIAG 2019 edition to filter and identify the risks to be prioritized, we used then a multi-objective optimization approach to identify the mitigation strategies that constitute the Pareto front for each of the risks and finally used the EDAS method for the final ranking of the strategies. Our case revealed that strategies like ensuring elaborating a contingency planning and defining the responsibilities, imposing contractual obligations on subcontractors, applying a flexible supply contract were found to be relevant risk mitigation strategies for the company. Managers interested in mitigating risk can deploy this model to prioritize risk mitigation strategies.
期刊介绍:
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.