Simultaneous optimization of process operations and financial decisions to enhance the integrated planning/scheduling of chemical supply chains

Guillén, Gonzalo; Badell, Mariana; Espuña, Antonio; Puigjaner, Luís

doi:10.1016/j.compchemeng.2005.10.015

Cited by 101 publications

(38 citation statements)

References 26 publications

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“…Guillen et al [21] mentioned a conceptual strategy in enterprise management systems consisting of the integration of financial modeling with production plans and schedules. Through a comparison in a case study, the authors showed that the integrated approach yields further improvement by including scheduling models.…”

Section: Introductionmentioning

confidence: 99%

A Linkage Model of Supply Chain Operation and Financial Performance for Economic Sustainability of Firm

2017

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Abstract:Although several studies have explored the relationship between the operation and performance of a supply chain (SC), a general SC model cannot deliver the expected financial results at a company-wide level. In this paper, we argue that this cannot guarantee the maximization of a firm's overall value because short-term financial performance metrics do not reflect the risk to businesses and the invested capital. Owing to the varying natures of risk and the capital invested, firms with multiple divisions should assess each division separately, and the results can be compared for decisions concerning the allocation of the firm's capital and resources to maximize the overall value of its businesses. We propose a linkage model to consider operational activities and financial performance simultaneously in a firm's supply chain model. To exhibit the superiority of the proposed model that connects SC operation and financial indicators, we first compare the differences between models for maximizing profit and enterprise-wise economic value added (EVA) as objective functions. To examine uncertainty in the operational and financial parameters of the SC, the results of sensitivity analyses are then reported. Experimental results showed that our model, using the EVA approach, is more effective and superior in terms of maximizing the firm's overall value from the long-term perspective while satisfying the target values for financial ratios set by the firm's executives and shareholders for all periods, unlike the results of the general model.

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Section: Introductionmentioning

confidence: 99%

A Linkage Model of Supply Chain Operation and Financial Performance for Economic Sustainability of Firm

2017

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“…Important works are identified namely the ones proposed by Guillen et al (2006), Amaro and Barbosa-Póvoa (2008), and Shah and Ierapetritou (2012). Such works have shown that integrating different decision levels leads to better results that are translated into the maximization of SCs earnings.…”

Section: As Represented Inmentioning

confidence: 99%

“…This ranges from a three scenario problem as in Liu and Sahinidis (1996) and Tsiakis et al (2001) to multi-scenario approaches as in Guillen et al (2006). Liu and Sahinidis (1996) studied the presence of uncertainty when dealing with long-range planning of process networks.…”

Section: Design and Planning With Uncertainty And Riskmentioning

confidence: 99%

Process Supply Chains Management â€“ Where are We? Where to Go Next?

Barbosa‐Póvoa¹

2014

Front. Energy Res.

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Commonly process industries supply chains (SCs) deal with chemical process based networks involving suppliers, producers, warehouses, retailers, and distributors. More recently, reverse logistics activities started to be also considered as part of such networks, being these responsible for incorporating into the forward chains non-conforming/end-oflife products through recovering processes. This supports the exploration of the wasteto-value concept within the SCs while addressing important environmental issues. The result of such behavior has increased the already complex management of such systems challenging the development of decision supporting tools that can help the related decision process. In this paper, we address this need and analyze the more relevant published works that contribute to this goal while identifying the classes of problems that have been solved and which are the new trends in the area. We finalize this article by drawing some conclusions where we discuss advances performed and recognized challenges for the future.

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“…Smith and MartinezFlores [23] compare traditional formulations and the present net value of finite horizons in economic order quantity (EOQ) in discrete times. Guillen et al [24] contemplate the integration of supply chain planning/programming into the chemical sector with multi-level and multi-product distribution networks and financial management. Guillen et al [25] present a holistic optimisation approach by combining operating and financial aspects in a supply chain.…”

Section: Literature Reviewmentioning

confidence: 99%

Increasing the Equity of a Flower Supply Chain by Improving Order Management and Supplier Selection

Moreno¹,

Bolarín²

2015

Int. j. simul. model.

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This work focuses on helping the decision-making process of a microenterprise, the central organisation of a flower-exporting supply chain, to satisfy the objective of increasing its equity value by 300 %, and that of the whole supply chain at the same time. A systems dynamics-based simulation model is developed to evaluate the order management process in the supply chain under study, its financial evaluation and a supplier selection module from the central firm. The objective is to increase the equity value of the central firm and the supply chain under study. The main contribution of this work is to model and simulate a real world supply chain for decision-making. Hence, this paper can be used by other supply chains as a reference for modelling and simulating themselves in order to improve their performance.

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Simultaneous optimization of process operations and financial decisions to enhance the integrated planning/scheduling of chemical supply chains

Cited by 101 publications

References 26 publications

A Linkage Model of Supply Chain Operation and Financial Performance for Economic Sustainability of Firm

A Linkage Model of Supply Chain Operation and Financial Performance for Economic Sustainability of Firm

Process Supply Chains Management â€“ Where are We? Where to Go Next?

Increasing the Equity of a Flower Supply Chain by Improving Order Management and Supplier Selection

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