Supply chains (SCs) are complex systems, which involve different organizations with different goals and objectives. The overall goal of all organizations involved in SC is to create a profit by satisfying the costumer’s demand for products or services. The business uncertainty (market conditions) is among the most important challenges facing modern SCs, and it poses considerable difficulties in terms of SC planning and control. Design of SC as well the strategic and operational decisions depend on the expectations of what will be the market conditions in the following planning period. In today’s changing markets, business uncertainty can emerge from a range of different sources: volatile and hardly predictable resources prices (oil), varying micro and macroeconomics indicators in different regions, wide costumers base spread all over the world, demand volatility generated by end customers, political and climate challenges, etc. Accordingly, SCs are faced with huge obstacles in providing the value for the end costumers in this changing environment. In order to deal with today’s business challenges, SCs need modern analytic tools to overcome the “bridge of uncertainty” in everyday business. This project explores the various analytical tools and techniques which can be used in providing support for the decision making in a real SC. Accordingly, the project will be focused on building, enhancing and sharing the knowledge base about different kind of mathematical and simulation models for dealing with the business uncertainty in modern markets, as well as educating the future SC practitioners with analytical techniques, categorized in terms of descriptive, predictive and prescriptive analytics, which are needed in the contemporary markets.

Contact Person: Prof. dr Svetlana Nikoličić
Period of realization: 2023 – 2024
ID: CIII-RS-1412-05-2324