TACKLING UNCERTAINTY WITH SUPPLY CHAIN EVENT MANAGEMENT,  THROUGH FUZZY LOGIC

  • P. Sashikala ICFAI Business School
  • Omprakash K. Gupta University of Houston-Downtown

Abstract

Today’s business environment is fraught with uncertainty.  Without clear insight into imminent economic, political, and security development, many businesses fear how their supply chains will fare in the face of global disruptions and market change.  In recent years, some enterprises have tried to simplify their command over their supply chains by outsourcing key business processes such as manufacturing and distribution.  But while reducing their asset base, outsourcing adds business and communication complexity and risk due to the multiple entities involved.  This complexity is increasing.  Moreover, today’s information flows and material flows are not sequential, linear chain.  They represent complex networks with multiple paths and entities.  In order to improve the planning and forecasting systems the companies spend lot of time, money and energy so as to minimize the uncertainties in the business problems.  The proposed solution is to control the uncertainty by using fuzzy logic in supply chain event management.  This is explained in detail.

Published
2009-06-01