Catalyzing resilience: Multi-faceted optimization of single vendor-multi buyer supply chains amidst stochastic demand

In the contemporary supply chain management landscape, the intricacies of managing a single vendor-multi-buyer network amidst stochastic demand pose significant challenges. This paper delves into optimizing such supply chains, emphasizing resilience in the face of uncertain demand scenarios. Leveraging the NSGA-II (Non-dominated Sorting Genetic Algorithm II), a powerful evolutionary optimization technique, we explore the multifaceted dimensions of supply chain optimization. The proposed framework aims to enhance the robustness and adaptability of supply chain networks by simultaneously addressing two key objectives: minimizing costs and maximizing service levels. By considering stochastic demand patterns, inherent uncertainties are meticulously accounted for, ensuring that the optimized solutions are efficient and resilient to unforeseen fluctuations in demand. This study comprehensively evaluates the single vendor-multi buyer supply chain model and highlights the efficacy of the NSGA-II algorithm in navigating the complex trade-offs inherent in supply chain optimization. By generating diverse Pareto-optimal solutions, the algorithm empowers decision-makers with actionable insights, enabling them to make informed choices that balance cost-effectiveness with service quality. Furthermore, this paper contributes to the evolving discourse on supply chain resilience by integrating advanced optimization methodologies with real-world supply chain dynamics. The findings underscore the importance of proactive optimization strategies in building resilient supply chain networks capable of withstanding the volatility of today's global marketplace. In conclusion, this research illuminates the path towards catalyzing resilience in single vendor-multi buyer supply chains, offering a nuanced understanding of the interplay between optimization algorithms, stochastic demand, and supply chain performance. Organizations can fortify their supply chain architectures through continuous refinement and adaptation, fostering agility and competitiveness in an ever-evolving business landscape.

Keywords:

Supply Chain Optimization , Stochastic Demand , NSGA-II Algorithm , Resilience , multi-objective optimization , Single Vendor-Multi Buyer