SUPPLY CHAIN RISK MANAGEMENT BY MONTE CARLO METHOD
Journal Title: Informatyka Automatyka Pomiary w Gospodarce i Ochronie Środowiska - Year 2017, Vol 7, Issue 4
Abstract
In this paper, the conceptual model of risk-based cost estimation for completing tasks within supply chain is presented. This model is a hybrid. Its main unit is based on Monte Carlo Simulation (MCS). Due to the fact that the important and difficult to evaluate input information is vector of risk-occur probabilities the use of artificial intelligence method was proposed. The model assumes the use of fuzzy logic or artificial neural networks – depending on the availability of historical data. The presented model could provide support to managers in making valuation decisions regarding various tasks in supply chain management.
Authors and Affiliations
Tomasz Rymarczyk, Grzegorz Kłosowski
Keywords
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- EP ID EP246158
- DOI 10.5604/01.3001.0010.7244
- Views 117
- Downloads 0
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