Stochastic Programming in Supply Chain

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Author(s): Mahdi Hamzeei (University of Wisconsin-Madison, USA)and Narges Kazemzadeh (Iowa State University, USA)
Copyright: 2012
Pages: 16
Source title: Supply Chain Sustainability and Raw Material Management: Concepts and Processes
Source Author(s)/Editor(s): Reza Zanjirani Farahani (Kingston University London, UK), Shabnam Rezapour (Urmia University of Technology, Urmia, Iran)and Laleh Kardar (University of Houston, USA)
DOI: 10.4018/978-1-61350-504-5.ch014

Keywords: Business & Management / Business Science Reference / Operations and Service Management / Supply Chain Management

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Abstract

In today’s global market, Supply Chain Management provides a framework on which decision makers can prepare a production or service network to be more competitive. The huge number of decisions as well as the underlying uncertainty make this system too complex. Stochastic programming as an optimization technique, which incorporates uncertainty in decisions, has been employed in this area. In this chapter, the authors will investigate some applications of stochastic programming in Supply Chain. The authors also explain briefly about stochastic programming.

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