Research advances in environmentally and socially sustainable operations

Tang, Christopher S.; Zhou, Sean X.

doi:10.1016/j.ejor.2012.07.030

Cited by 389 publications

(218 citation statements)

References 50 publications

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“…Actually, quite a bit of attention has been paid in the bibliography to the optimal generation bid strategies under SO 2 and NO x emission limits. Most of the research production related to SO 2 and NO x emissions has been dedicated to general long-term studies of different aspects of the impact of reducing the SO 2 and NO x emissions in the wholesale electricity production system but without any explicit mention to the NERP ( [26,34]). Among the few papers that study optimal generation under emission limits, [23] develops a load dispatch model to minimize NO x emissions only by taking fuel cost and stochastic wind power availability as constraints, thus disregarding the electricity market entirely.…”

Section: Literature Reviewmentioning

confidence: 99%

Stochastic optimal generation bid to electricity markets with emissions risk constraints

Heredia

Cifuentes-Rubiano

Corchero

2018

Journal of Environmental Management

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There are many factors that influence the day-ahead market bidding strategies of a generation company (GenCo) within the framework of the current energy market. Environmental policy issues are giving rise to emission limitation that are becoming more and more important for fossil-fueled power plants, and these must be considered in their management. This work investigates the influence of the emissions reduction plan and the incorporation of the medium-term derivative commitments in the optimal generation bidding strategy for the day-ahead electricity market. Two different technologies have been considered: the high-emission technology of thermal coal units and the low-emission technology of combined cycle gas turbine units. The Iberian Electricity Market (MIBEL) and the Spanish National Emissions Reduction Plan (NERP) defines the environmental framework for dealing with the day-ahead market bidding strategies. To address emission limitations, we have extended some of the standard risk management methodologies developed for financial markets, such as Value-at-Risk (VaR) and Conditional Value-at-Risk (CVaR), thus leading to the new concept of Conditional Emission at Risk (CEaR). This study offers electricity generation utilities a mathematical model for determining the unit's optimal generation bid to the wholesale electricity market such that it maximizes the long-term profits of the utility while allowing it to abide by the Iberian Electricity Market rules as well as the environmental restrictions set by the Spanish National Emissions Reduction Plan. We analyze the economic implications for a GenCo that includes the environmental restrictions of this National Plan as well as the NERP's effects on the expected profits and the optimal generation bid.

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Section: Literature Reviewmentioning

confidence: 99%

Stochastic optimal generation bid to electricity markets with emissions risk constraints

Heredia

Cifuentes-Rubiano

Corchero

2018

Journal of Environmental Management

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“…Uncertainty in SCs is related to 'situations in which a decision maker lacks effective control actions or is unable to predict accurately the impact of possible control actions on system behaviour due to a lack of (1) (2008) MCDM approaches for GSCs… the SC presenting the relationships between SC redesign variables and SC performance indicators' (van der Vorst 2000). In SCs uncertainty can be related to supply of raw materials, demand for final products, processing parameters, prices, and in the light of reverse logistics quantity and quality of returned products (Ahumada and Villalobos 2009;Soysal et al 2012;Tang and Zhou 2012). Due to the importance of uncertainty in SCs, in our literature review we differentiate between deterministic models and models taking uncertainty into account.…”

Section: Mcdm Model Characteristics and Requirementsmentioning

confidence: 99%

“…During the production of final products from raw materials, and the delivery of products to final customers, supply chains inevitably harm the environment (Tang and Zhou 2012). In Supply Chain Management with environmental concerns, the main business objectives are cost reduction, responsiveness improvement, and avoidance of permanent environmental damage (Soysal et al 2012).…”

Section: Eco-efficiency Indicators In Supply Chainsmentioning

confidence: 99%

Multi-criteria decision making approaches for green supply chains: a review

et al. 2016

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Designing Green Supply Chains (GSCs) requires complex decisionsupport models that can deal with multiple dimensions of sustainability while taking into account specific characteristics of products and their supply chain. Multi-Criteria Decision Making (MCDM) approaches can be used to quantify trade-offs between economic, social, and environmental criteria i.e. to identify green production options. The aim of this paper is to review the use of MCDM approaches for designing efficient and effective GSCs. We develop a conceptual framework to find relevant publications and to categorise papers with respect to decision problems, indicators, and MCDM approaches. The analysis shows that (1) the use of MCDM approaches for designing GSCs is a rather new but emerging research field, (2) most of the publications focus on production and distribution problems, and there are only a few inventory models with environmental considerations, (3) the majority of papers assume all data to be deterministic, (4) little attention has been given to minimisation of waste, (5) numerous indicators are used to account for eco-efficiency, indicating the lack of standards. This study, therefore, identifies the need for

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“…Choosing suppliers who are capable of integrating their competencies and capabilities with those of the focal firm are thus crucial for securing competitive advantage (Lin, 2012). The adoption of sustainable strategies has a higher chance of success when the suppliers are also aligned to these strategies (Tang & Zhou, 2012).…”

Section: Introductionmentioning

confidence: 99%

An integrated approach to evaluate suppliers in a sustainable supply chain

Petrudi¹,

Abdi²,

Goh³

2018

10.5267/j.uscm

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The purpose of this paper is to propose an integrated multiple criteria decision making (MCDM) approach to analyze interrelationships among sustainability criteria, weight them, and then evaluate suppliers according to these criteria. Data were collected through interviewing with seven experts who are involved in the procurement department of the case. Interpretive structural modelling (ISM), and pairwise comparison questionnaire are used to elicit the existence, strength of relationships among criteria and then weight them by using Fuzzy (Decision Making Trial and Evaluation Laboratory (FDEMATEL), Fuzzy Preference Programming (FPP), and Analytical Network Process (ANP). Then, Fuzzy Technique for Order of Preference by Similarity to Ideal Solution (FTOPSIS) is employed to evaluate suppliers based on identified and analyzed sustainability criteria. This study provides several implications for practitioners and scholars. First, the results show the efficiency of the proposed approach in practice. Second, respondents state that the proposed approach was very useful in decision making based on interrelationships among criteria, alternatives and policies. Third, findings validate the significant difference in rankings with or without considering interdependencies among criteria.

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Research advances in environmentally and socially sustainable operations

Cited by 389 publications

References 50 publications

Stochastic optimal generation bid to electricity markets with emissions risk constraints

Stochastic optimal generation bid to electricity markets with emissions risk constraints

Multi-criteria decision making approaches for green supply chains: a review

An integrated approach to evaluate suppliers in a sustainable supply chain

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