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Managing bullwhip-induced risks in supply chains

Towill, Denis Royston and Disney, Stephen Michael 2008. Managing bullwhip-induced risks in supply chains. International Journal of Risk Assessment and Management 10 (3) , pp. 238-262. 10.1504/IJRAM.2008.021376

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Abstract

We discuss the exploitation of a well-established replenishment rule, the order-up-to policy, to control the supply chain risk resulting from the Bullwhip effect. To avoid this risk within supply chains, two specific recommendations are highly important. First, we provide strong evidence that availability of high fidelity up-to-date delivery lead-time information is essential. This inevitably requires transparency and trust between various 'players' within the supply chain. For many practical reasons this is easier to recommend than to actually achieve. Secondly, such reliable data needs to be automatically fed into the replenishment system to enable it to function in an adaptive mode. This step offers a reasonable guarantee of a well-controlled performance. It is also advisable that at the design stage, replenishment rule parameters should be set so that 'conservative' operation is achieved. The new theoretical advances described in the paper are validated via simulation models of the delivery process.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Centre for Advanced Manufacturing Systems At Cardiff (CAMSAC)
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HF Commerce
Uncontrolled Keywords: Automatic pipeline inventory ; Order-based production systems ; APIOBPCS ; Bullwhip effect ; Simulation ; Inventory variance ; Lead-time estimation errors ; Lead times ; Stability ; Supply chain management ; SCM ; Supply chain risk ; Risk management
Additional Information: PDF uploaded in accordance with publisher's policies at http://www.sherpa.ac.uk/romeo/issn/1466-8297/ (accessed 29.01.16).
Publisher: Inderscience Publishers
ISSN: 1466-8297
Last Modified: 04 Jun 2017 17:13
URI: http://orca.cf.ac.uk/id/eprint/19400

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