Mark Goh

Stochastic Model for Risk Management

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Paper

A stochastic model for risk management in global supply chain networks

Defining a conceptual framework for supply chain risk management can support thinking about risks in supply chains and streamline the decision making process, and therefore improve the current supply chain at hand.
This is similar to a brown-field approach, where gradual changes and risk mitigation strategies are employed onto an existing supply chain. Thus another source for improvement strategies can be a green-field approach, where the supply chain is modeled and optimized to generate new input for real-world optimization.

h5. Model

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