A simulation based optimization approach to supply chain management under demand uncertainty

  title={A simulation based optimization approach to supply chain management under demand uncertainty},
  author={June Young Jung and Gary E. Blau and Joseph F. Pekny and Gintaras V. Reklaitis and David Eversdyk},
  journal={Computers & Chemical Engineering},
Cost effective supply chain management under various market, logistics and production uncertainties is a critical issue for companies in the chemical process industry. Uncertainties in the supply chain usually increase the variance of profits (or costs) to the company, increasing the likelihood of decreased profit. Demand uncertainty, in particular, is an important factor to be considered in the supply chain design and operations. To hedge against demand uncertainty, safety stock levels are… CONTINUE READING
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