Supply chain risk for new and seasonal products

Project Abstract / Summary : Supply chain risk investigation is one of the challenging issues in recent competitive environment. In particular, supply chain risks (SCR) for new and seasonal products are one of the major concerns for Industries. Our work have been divided into two folds, first, we would like to highlight what kind of risks are involved in the new and seasonal products. Second, the problem is converted into a mathematical model with subjected to constraints by highlighting some of the assumptions i.e., the demand is probabilistic that comes from various scenarios such as forecasting, benchmarking and market analysis data. By developing methods, frameworks and flowcharts, and with various tools and techniques, the above mentioned problem has been solved to optimality by mitigating the risk. Some of the approaches are heuristic, Meta heuristic, non-linear method and mathematical models need to be proposed to solve NP hard models. Further, it leads to reducing the supply chain cost from operational prospective and supply chain vulnerability. By this way supply chain risk can be decreased and lead supply chain to become lot smarter.

Why did you choose to work on this project topic : The race to sort, package and ship millions of products that Indians are buying online is becoming a hotly contested one in the Indian logistics industry as several companies launch innovative services to grab the growing business. The lack of efficient logistics support has been a bottleneck for India’s online retail industry.Apart from tapping the large logistics market in China, Indian service providers will also be looking to pick up business from Indian MNCs like Tata and M&M who are already there.

Project Category : Mechanical / Automobile / Aeronautical
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Institute/College Name: KLUniversity
City: Guntur
State: Andhra Pradesh
Participating Team From: Final Year