![]()
AMBIENTUM BIOETHICA BIOLOGIA CHEMIA DIGITALIA DRAMATICA EDUCATIO ARTIS GYMNAST. ENGINEERING EPHEMERIDES EUROPAEA GEOGRAPHIA GEOLOGIA HISTORIA HISTORIA ARTIUM INFORMATICA IURISPRUDENTIA MATHEMATICA MUSICA NEGOTIA OECONOMICA PHILOLOGIA PHILOSOPHIA PHYSICA POLITICA PSYCHOLOGIA-PAEDAGOGIA SOCIOLOGIA THEOLOGIA CATHOLICA THEOLOGIA CATHOLICA LATIN THEOLOGIA GR.-CATH. VARAD THEOLOGIA ORTHODOXA THEOLOGIA REF. TRANSYLVAN
|
|||||||
The STUDIA UNIVERSITATIS BABEŞ-BOLYAI issue article summary The summary of the selected article appears at the bottom of the page. In order to get back to the contents of the issue this article belongs to you have to access the link from the title. In order to see all the articles of the archive which have as author/co-author one of the authors mentioned below, you have to access the link from the author's name. |
|||||||
STUDIA DIGITALIA - Issue no. 1 / 2018 | |||||||
Article: |
DECISION MAKING IN SMART SUPPLY CHAINS: A CASE STUDY ON THE ENERGY INDUSTRY. Authors: FLORINA LIVIA COVACI. |
||||||
Abstract: The dynamic economic environment is driving the evolution of traditional supply chains toward a connected, smart, and highly efficient supply chain ecosystem. Algorithms become powerful tools that enable machines to make autonomous decisions in the digitized supply chain of the future. The present paper proposes an decision making mechanism for smart supply chain management in the petroleum industry. This industry has a strategic position as it is the base for other essential activities of the economy of any country. The petroleum industry is faced with volatile feedstock costs, cyclical product prices and seasonal final products demand. The current paper considers the position of a refinery as it is at the middle of the integrated petroleum supply chain, between the upstream and downstream. It procures crude oil from upstream assessing the price, quality, timing, and distance to the refinery in order to decide the optimal acquisition. Additionally, the refiner has to carefully monitor the price risk and manage the inventory. The manufacturing activities of the refiner requires thoroughly planning and scheduling the production levels and supply chains for all the derivates and feedstocks for petrochemical industry using tools for decision making in order to estimate market opportunities and threats under volatile market conditions. In order to provide a reliable and practical decision making model, the current paper proposes a mechanism for decision support under uncertainty using maximum expected utility. Keywords: supply chain, decision support, software agents, maximum expected utility, petroleum industry |
|||||||
![]() |
|||||||