Risk management in the design and planning of closed-loop supply chains
Sónia R. Cardosoa, Ana Paula F.D. Barbosa-Povóaa and Susana Relvasa, aCEG-IST, Instituto Superior Tecnico, Universidade Tecnica de Lisboa, Avenida Rovisco Pais, 1049–001, Lisboa, Portugal
Abstract
In this paper, we develop a multi-objective model for the design and planning of closed-loop supply chains under demand uncertainty that maximizes the expected net present value (ENPV) and minimizes risk. Four different risk measures are implemented and compared: variance, variability index, downside risk and conditional value-at-risk (CVaR) so as to conclude on these measures adequacy. The model is applied to a European supply chain and the optimal solutions are drawn in a ...
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