On the Analytical Framework of Resilient Supply-Chain Network Assessing Excursion Events

摘要

This paper conceptualises an analytical framework meant for resiliency of supply-chain networks by assessing excursion events. Modern supply-chain networks (SCNs) face excursion events of various kinds mainly due to uncertain and turbulent markets, catastrophes, accidents, industrial disputes/strikes in organisations and terrorism. An ldquoexcursion eventrdquo is an unpredictable event that effectively shuts-down or negatively impacts the performance of at least one node/member of a system for a relatively long amount of time. In this paper, an analytical framework has been conceptualised that prevents a SCN to propagate the effects of the ldquoexcursion eventsrdquo further and maintains the network at desired equilibrium level. The gestated quantitative decision-support approach facilitates the assessment of resilient strategies for SCNs prone to excursion events that are characterised by Low Probability of occurrence and High Impact (LPHI).