IEOR e-Seminar by Dr. Dr. Mayank Verma
Title : Designing a Reliable and Sustainable Supply Chain Network
Speaker: Dr. Mayank Verma, Indian Atomic Energy Regulatory Board.
Day, Date and Time: Monday, Feb 22, 2021 11:45 am to 12:45 pm.
Abstract of the talk:
The recent pandemic presented an additional dimension to the complexity of disruptions in Supply Chains, which forced Managers to re-evaluate their risk management strategies countering the ripple effect. Several nodes and arcs of different organizations could not recover, resulting in permanent closures. Based on the existing well known Resilience metrics 'Time to Recover' and 'Time to Survive', two more metrics on 'Time to Collapse' and 'Cost to Collapse' are conceptualized. These metrics are based on the typical Stress-Strain curve from Mechanical testing of the mild steel specimen, and will provide a clear picture to the organizations about the resources required post disruption, to ensure that their nodes are more reliable. International Trade Centre in its recent report brought out that after the COVID-19 pandemic, the four main characteristics of the 'new normal' are resilience, sustainable, digital, and inclusive. Based on this, a multi-objective framework for an optimal Design of the Reliable and Sustainable Supply Chain Network is worked out. One of the unique features of this formulation is to model the cumulative reliability of any entity of the supply chain, as a function of the reliability of their upstream partner, which is closer to any real life situation. This formulation is solved using variants of the elitist Non-dominated Sorting Genetic Algorithm (NSGA-III) that uses reference direction based scheme to maintain diversity among solutions in each generation. Data inspired from one of the largest Indian Automobile Manufacturer is adopted, using which some illustrative examples have been solved that establishes trade-offs between cost, reliability and emissions.
Dr Mayank Verma is a PhD (2011) from the Department of Industrial & Management Engineering (IME), IIT Kanpur. As a part of his PhD, he worked on Hybrid Formulations of the Capacitated Lot Sizing Problems (CLSP) and Lagrangian Relaxation based novel solution technique for CLSP. He is an Honours Graduate (2002) in Mechanical Engineering. Prior to joining PhD he worked for 5 years as Reactor Engineer, Turbine Engineer and Control Engineer in the Main Plant Operations of Rajasthan Atomic Power Station Units-3&4, Nuclear Power Corporation of India Limited (NPCIL). After PhD, he joined the Indian Atomic Energy Regulatory Board (AERB). At AERB, he is presently Leading the Regulatory Oversight of a $2.1 Billion Project – Kakrapar Atomic Power Project (KAPP-3&4), which is India's first indigenous 700 MWe Pressurized Heavy Water Reactor based Nuclear Power Plant. Being AERB's Project Coordinator and Member Secretary of the Project Design Safety Committee, he is the Nodal Officer playing a key role in Licensing of KAPP-3&4.
His Research interest lies in Single and Multi-Objective Optimization, Evolutionary Algorithms, and Supply Chain Risk Management. Further, with his 15 years of hands-on experience in different facets of Indian Nuclear industry, including its supply chain and project management, he has keen interest to solve various problems of the Nuclear industry by applying OR techniques.