Crude oil supply chain risk management with DEMATEL–ANP

Fazli, Safar; Mavi, Reza Kiani; Vosooghidizaji, Mohammadali

doi:10.1007/s12351-015-0182-0

Cited by 74 publications

(59 citation statements)

References 73 publications

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“…They integrated the analytical network process into the methodology for prioritizing and accounting for the opinions and judgments of industrial and academic experts. Fazli and Mavi [37] proposed a decision network framework for risk assessment in crude oil supply chains that incorporated DEMATEL and ANP. DEMATEL analyzed the interdependency among the risk factors and ANP ranked the risk factors and evaluated the importance of each risk factor.…”

Section: Risk Assessment Related Workmentioning

confidence: 99%

“…Dependencies between elements in one cluster are represented as inner dependencies, however, dependencies among criteria in the same cluster and those in a dissimilar cluster are represented as outer dependencies [93]. The ANP model allows a complex relationship between criteria, but it cannot construct a hierarchical structure for decision problems that involve dependencies and interactions of higher-level elements on lower-level elements [37].…”

Section: Analytic Network Process (Anp)mentioning

confidence: 99%

“…The ANP model allows a complex relationship between criteria, but it cannot construct a hierarchical structure for decision problems that involve dependencies and interactions of higher-level elements on lower-level elements [37]. Next, the steps related to the ANP method are described.…”

Section: Analytic Network Process (Anp)mentioning

confidence: 99%

“…In this second step, the outcomes obtained from the previous step are used to construct an unweighted supermatrix, which includes priorities that are derived from the different pairwise comparisons. A supermatrix can be described in a general form as shown in Equation (7): (7) where represents the mth cluster [98], indicates the th element in the th cluster [102], and is the principle eigenvector of the influence of the elements, which are compared between the th and th clusters [37].…”

Section: Analytic Network Process (Anp)mentioning

confidence: 99%

“…The ultimate hierarchical structure of probable risks for OGC projects is presented in Figure 2. In this section, we evaluate the proposed risk analysis and assessment process based on DEMATEL and (7) where c m represents the mth cluster [98], e mn indicates the mth element in the mth cluster [102], and w ij is the principle eigenvector of the influence of the elements, which are compared between the ith and jth clusters [37].…”

Section: Hierarchical Structure Of Risk Factorsmentioning

confidence: 99%

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DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects

et al. 2017

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Oil and gas construction projects are complex and risky because of their dynamic environment. Furthermore, rising global energy demand has increased the need for trustworthy risk assessment models for such projects that can provide adequate and precise policy planning. Traditional risk assessments in oil and gas construction projects do not consider the interrelationships of factors in the best-fit models. The Decision Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Network Processes (ANP), called the DEMATEL-ANP approach, have been applied to other research disciplines to address this shortcoming. This method is able to construct a structural relationship among the different influence factors to visualize complex correlations. Thus, the purpose of this study is to showcase the DEMTAL-ANP risk assessment model to assess the overall risk factors of OGC projects. This study thus identifies the crucial risk criteria of such projects. Data were collected in 2016 through interviews with experts active in OGC projects in Iran. DEMATEL in this situation is used to determine the interdependencies' relative strengths among the risks. The ANP method is applied to assess the relative importance of the risk factors and to determine the best strategy for implementation of a risk management program. The results presented in this study are a novel adaptation of the risk assessment methodology to OGC projects that determines the important risk factors that directly affect the project success, which in turn helps in formulation of policies for ensuring reliable energy supply planning.

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Section: Risk Assessment Related Workmentioning

confidence: 99%

Section: Analytic Network Process (Anp)mentioning

confidence: 99%

Section: Analytic Network Process (Anp)mentioning

confidence: 99%

Section: Analytic Network Process (Anp)mentioning

confidence: 99%

Section: Hierarchical Structure Of Risk Factorsmentioning

confidence: 99%

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DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects

et al. 2017

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Analysing the risks of adopting circular economy initiatives in manufacturing supply chains

Ethirajan

Kandasamy

et al. 2020

Bus Strat Env

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The concept of circular economy (CE) has proven its worth due to the scarcity of natural resources and huge amounts of wastage which impacts the environment. Thus, the adoption of the CE concept in the supply chain becomes critical. However, due to the complex nature of processes/activities in the circular supply chain (CSC), managing risk has become a priority to avoid disruption. In current literature, no discussion has been conducted on how to analyse the risks in the context of CSC. Therefore, to fill this literature gap, this study concentrates on identifying and analysing the risks to promote effective circular initiatives in supply chains in the context of the manufacturing industry, thus minimising the negative environmental impact. A total of 31 risks were identified through an extensive literature review and discussions with experts. A grey‐based decision‐making trial and evaluation laboratory (DEMATEL) method is applied by incorporating the experts' knowledge to compute prominence and cause/effect scores to develop an interrelationship map. Finally, a vulnerability matrix for risk categories is developed using the average of prominence and cause/effect scores of risks. The results show that transparent process is the most prominent risk and branding is the least significant risk. By using the average prominence and cause/effect score, a risk category, namely, financial risk, is identified as most vulnerable to CSC. These findings will help industry managers not only to prepare business strategies in the adoption of CE initiatives in supply chains by eliminating risks but also in minimising negative environmental impact.

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Traditional or behavioural? A combined decision making trial and evaluation laboratory and analytic network process approach for capital structure determinants of Turkish companies

Bank

Çöllü

Bulut

2019

Multi Criteria Decision Anal

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The aim of this study, following a new approach under the irrationality of managers, is to investigate the most effective determinants of capital structure decisions by combining traditional capital structure determinants with managerial‐behavioural biases. In line with this objective, considering the capital structure decision as one that employs multicriteria decision making, two of the multicriteria decision‐making methods—namely, Decision Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Network Process (ANP)—are integrated into a hybrid method to analyse the interdependent relationships among traditional capital structure determinants and managerial‐behavioural biases and to prioritize them by making dual comparisons. Our findings show that managerial‐behavioural biases, not traditional capital structure determinants, are more effective in the capital structure decision and that anchoring is the most influential among managerial‐behavioural biases.

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Crude oil supply chain risk management with DEMATEL–ANP

Cited by 74 publications

References 73 publications

DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects

DEMATEL-ANP Risk Assessment in Oil and Gas Construction Projects

Analysing the risks of adopting circular economy initiatives in manufacturing supply chains

Traditional or behavioural? A combined decision making trial and evaluation laboratory and analytic network process approach for capital structure determinants of Turkish companies

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