Risk Analysis in Stochastic Supply Chains A Mean-Risk Approach

Risk analysis is crucial in stochastic supply chain models. Over the past few years, the pace has quickened for  research attempting to explore risk analysis issues in supply chain management problems, while the majority of recent papers focus on con

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Volume 178

Series Editor: Frederick S. Hillier Stanford University, CA, USA Special Editorial Consultant: Camille C. Price Stephen F. Austin State University, TX, USA

For further volumes: http://www.springer.com/series/6161

Tsan-Ming Choi

l

Chun-Hung Chiu

Risk Analysis in Stochastic Supply Chains A Mean-Risk Approach

Tsan-Ming Choi Institute of Textiles and Clothing The Hong Kong Polytechnic University Hung Hom, Kowloon Hong Kong

Chun-Hung Chiu Department of Management Sciences City University of Hong Kong Kowloon Tong, Kowloon Hong Kong

ISSN 0884-8289 ISBN 978-1-4614-3868-7 ISBN 978-1-4614-3869-4 (eBook) DOI 10.1007/978-1-4614-3869-4 Springer New York Heidelberg Dordrecht London Library of Congress Control Number: 2012940864 # Springer Science+Business Media New York 2012 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)

Preface

Risk analysis is one of the most crucial items on senior management’s agenda. It is a critical part of modern supply chain management under a turbulent market environment. Over the past few years, there are more and more emerging works attempting to explore risk-related issues in stochastic supply chain management problems while the majority of them focus on conceptual framework or computational analysis. Pioneered by Nobel laur