Volume 3 Number 10 (Oct. 2008)
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JCP 2008 Vol.3(10): 28-35 ISSN: 1796-203X
doi: 10.4304/jcp.3.10.28-35

Research on Risk Evaluation in Supply Chain Based on Grey Relational Method

Peide Liu, Tongjuan Wang
1Information Management School, Shandong Economic University, Ji’nan, China

Abstract—Supply chain risk evaluation is a multi-criteria decision making problem under fuzzy environments. To tackle the problem, this paper firstly identifies and discusses some of the important and critical decision criteria and constructs the evaluation indicator framework. Then this paper presents a modified grey relational analysis method based on the concepts of ideal and anti-ideal points. In the method, the weight information is partially known and the vagueness and subjectivity are handled with linguistic terms parameterized by triangular fuzzy numbers. Besides, a single objective programming model is developed to determine the relation degree between every alternative and positive ideal point or negative ideal point. By solving the programming model, the weight vector of criteria is calculated. The alternatives are ranked by the relative relation degree. Finally, a case study is given to demonstrate the proposed method’s effectiveness.

Index Terms—supply chain, risk evaluation, multi-criteria decision making, grey relational analysis

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Cite: Peide Liu, Tongjuan Wang, "Research on Risk Evaluation in Supply Chain Based on Grey Relational Method," Journal of Computers vol. 3, no. 10, pp. 28-35, 2008.

General Information

ISSN: 1796-203X
Abbreviated Title: J.Comput.
Frequency: Monthly
Editor-in-Chief: Prof. Liansheng Tan
Executive Editor: Ms. Nina Lee
Abstracting/ Indexing: DBLP, EBSCO,  ProQuest, INSPEC, ULRICH's Periodicals Directory, WorldCat, CNKI,etc
E-mail: jcp@iap.org
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