A multiobjective mathematical model for a novel buy-back coordination contract in the symbiotic supply chain with fuzzy price: a data-driven decision approach

Abstract

Purpose

The purpose of this study is developing a new buy-back coordination contract in the symbiotic supply chain. In this new contract, the goal of the supply chain members (profit maximization) is realized.

Design/methodology/approach

This paper encourages the manufacturer to order products optimally by presenting a new buy-back coordination contract, and in return, the supplier undertakes to buy the unsold products from the manufacturer at the buy-back price. By using data-driven decision-making and multiobjective decision-making and considering the existing conditions in the symbiosis industry, a contract has been presented that guarantees the profits of supply chain members.

Findings

In this paper, it was found out how the authors can determine the order quantity, buy-back price and wholesale price in a symbiotic supply chain in such a way that it makes a profit for both the supplier and the manufacturer. In other words, how to determine these variables to encourage the manufacturer to order more quantity to the supplier so that both will benefit.

Originality/value

To the best of the authors’ knowledge, this is the first paper that defines a new buy-back coordination contract in the symbiotic supply chain by considering uncertain demand and a multiobjective model. Due to the importance of environmental issues, the sharing of resources by companies and organizations with each other, and the necessity of their cooperation, industries are moving toward a symbiosis industry.

Citation

Belghand, M., Asadi, A., Alipour-Vaezi, M., Jolai, F. and Aghsami, A. (2024), "A multiobjective mathematical model for a novel buy-back coordination contract in the symbiotic supply chain with fuzzy price: a data-driven decision approach", Journal of Modelling in Management, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JM2-05-2023-0103