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Article: A distributed decision making model for risk management of virtual enterprise
Title | A distributed decision making model for risk management of virtual enterprise | ||||||||||||||||
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Authors | |||||||||||||||||
Keywords | Distributed Decision Making Particle Swarm Optimization Risk management Two-level model Virtual Enterprise | ||||||||||||||||
Issue Date | 2011 | ||||||||||||||||
Publisher | Pergamon. The Journal's web site is located at http://www.elsevier.com/locate/eswa | ||||||||||||||||
Citation | Expert Systems With Applications, 2011, v. 38 n. 10, p. 13208-13215 How to Cite? | ||||||||||||||||
Abstract | Risk management in a Virtual Enterprise (VE) is an important issue due to its agility and diversity of its members and its distributed characteristics. In this paper, we develop a risk management model for the VE. More specifically, we introduce a Distributed Decision Making (DDM) model for risk management of the VE. The model has two levels, namely, the top model and the base model, which describe the decision processes of the owner and the partners of the VE, respectively. It can be regarded as a combination of both the top-down and bottom-up approaches for risk management of the VE. Here we focus on the case of symmetry information between the owner and the partners. A Particle Swarm Optimization (PSO) algorithm is then designed to solve the resulting optimization problem. The result shows that the proposed algorithm is effective and the two-level model can help improve the description of the relationship between the owner and the partners, which is helpful to reduce the risk of the VE. © 2010 Elsevier Ltd. All rights reserved. | ||||||||||||||||
Persistent Identifier | http://hdl.handle.net/10722/134407 | ||||||||||||||||
ISSN | 2023 Impact Factor: 7.5 2023 SCImago Journal Rankings: 1.875 | ||||||||||||||||
ISI Accession Number ID |
Funding Information: The authors thank the support of the National Natural Science Foundation of China under Grant No. 71071028, No. 71021061, No. 70931001 and No. 61070162, Specialized Research Fund for the Doctoral Program of Higher Education under Grant No. 20070145017 and No. 20100042110025, the Fundamental Research Funds for the Central Universities under Grant No. N090504006 and No. N090504003, and RGC Grant 7017/07P, HKU CRCG Grants, Hung Hing Ying Physical Sciences Research Fund and HKU Strategic Research Theme Fund on Computational Physics and Numerical Methods. | ||||||||||||||||
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Huang, M | en_HK |
dc.contributor.author | Lu, FQ | en_HK |
dc.contributor.author | Ching, WK | en_HK |
dc.contributor.author | Siu, TK | en_HK |
dc.date.accessioned | 2011-06-17T09:19:56Z | - |
dc.date.available | 2011-06-17T09:19:56Z | - |
dc.date.issued | 2011 | en_HK |
dc.identifier.citation | Expert Systems With Applications, 2011, v. 38 n. 10, p. 13208-13215 | en_HK |
dc.identifier.issn | 0957-4174 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/134407 | - |
dc.description.abstract | Risk management in a Virtual Enterprise (VE) is an important issue due to its agility and diversity of its members and its distributed characteristics. In this paper, we develop a risk management model for the VE. More specifically, we introduce a Distributed Decision Making (DDM) model for risk management of the VE. The model has two levels, namely, the top model and the base model, which describe the decision processes of the owner and the partners of the VE, respectively. It can be regarded as a combination of both the top-down and bottom-up approaches for risk management of the VE. Here we focus on the case of symmetry information between the owner and the partners. A Particle Swarm Optimization (PSO) algorithm is then designed to solve the resulting optimization problem. The result shows that the proposed algorithm is effective and the two-level model can help improve the description of the relationship between the owner and the partners, which is helpful to reduce the risk of the VE. © 2010 Elsevier Ltd. All rights reserved. | en_HK |
dc.language | eng | en_US |
dc.publisher | Pergamon. The Journal's web site is located at http://www.elsevier.com/locate/eswa | en_HK |
dc.relation.ispartof | Expert Systems with Applications | en_HK |
dc.subject | Distributed Decision Making | en_HK |
dc.subject | Particle Swarm Optimization | en_HK |
dc.subject | Risk management | en_HK |
dc.subject | Two-level model | en_HK |
dc.subject | Virtual Enterprise | en_HK |
dc.title | A distributed decision making model for risk management of virtual enterprise | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0957-4174&volume=38&issue=10&spage=13208–13215&epage=&date=2011&atitle=A+distributed+decision+making+model+for+risk+management+of+virtual+enterprise | - |
dc.identifier.email | Ching, WK:wching@hku.hk | en_HK |
dc.identifier.authority | Ching, WK=rp00679 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.eswa.2011.04.135 | en_HK |
dc.identifier.scopus | eid_2-s2.0-79958011978 | en_HK |
dc.identifier.hkuros | 185623 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-79958011978&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 38 | en_HK |
dc.identifier.issue | 10 | en_HK |
dc.identifier.spage | 13208 | en_HK |
dc.identifier.epage | 13215 | en_HK |
dc.identifier.isi | WOS:000292169500132 | - |
dc.publisher.place | United Kingdom | en_HK |
dc.identifier.scopusauthorid | Huang, M=26643214600 | en_HK |
dc.identifier.scopusauthorid | Lu, FQ=22734918400 | en_HK |
dc.identifier.scopusauthorid | Ching, WK=13310265500 | en_HK |
dc.identifier.scopusauthorid | Siu, TK=8655758200 | en_HK |
dc.identifier.citeulike | 9288280 | - |
dc.identifier.issnl | 0957-4174 | - |