Scenario-based approach

Stochastic programming approach for the optimal tactical planning of the downstream oil supply chain

C. Lima, S. Relvas, A.P. Barbosa-Povoa

Computers and Chemical Engineering (Published)

Jan, 2018

Keywords: Uncertainty Stochastic programming Scenario-based approach Time series analysis Scenario tree reduction Downstream oil supply chain

This paper develops a multistage stochastic programming to optimally solve the distribution problem of refined products. The stochastic model relies on a time series analysis, as well as on a scenario tree analysis, in order to effectively deal and represent uncertainty in oil price and demand. The ARIMA…

Stochastic Modeling Approach for Downstream Oil Supply Chain

C. Lima, S. Relvas, A.P. Barbosa-Póvoa

Computer Aided Chemical Engineering (Published)

Nov, 2017

Keywords: Uncertainty Distribution Planning Downstream Oil Supply Chain Stochastic Programming Scenario-based Approach

Uncertainties arise from several sources and may introduce diverse risks within the oil supply chain (OSC), hindering its management, besides raising costs and lowering margins. The purpose of this work is to present a new stochastic approach to deal with different sources of uncertainty, by…