Title: Supply side risk assessment: an application of Yager's methodology based on fuzzy sets

Authors: Kunal K. Ganguly, Kalyan Kumar Guin

Addresses: Institute of Management Technology, Ghaziabad, India. ' VGSOM, IIT Kharagpur, Kharagpur, West Bengal, India

Abstract: This paper discusses the potential application of fuzzy set theory in the area of supply side risk assessment using linguistic variables/values. The application has been illustrated through its use in a process industry. Yager|s methodology for ordinal multi-objective decisions based on fuzzy sets has been chosen since the model only demands ordinal information of expert|s preferences and the importance of each individual factor. It allows supply chain risk evaluation, ranking and prioritisation based on expert|s knowledge, experiences and opinions. Moreover, this model can be used by the practicing managers who may not be having in-depth knowledge on fuzzy mathematics. Typical supply related risks in a process industry have been used in this application.

Keywords: risk assessment; risk characteristics; supply side; SCM; supply chain management; linguistic variables; fuzzy sets; Ronald Yager; methodologies; ordinal information; multi-objective decisions; experts; preferences; risk evaluation; rankings; prioritisation; knowledge; experience; fuzzy mathematics; managers; process industries; business continuity; risk management.

DOI: 10.1504/IJBCRM.2010.033635

International Journal of Business Continuity and Risk Management, 2010 Vol.1 No.2, pp.136 - 150

Published online: 09 Jun 2010 *

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