Toward circular economy for pomegranate fruit supply chain under dynamic uncertainty: A case study

•A green value chain-based supply chain is designed for pomegranate fruit.•A circular economy based on biochar production is applied for waste management.•Multi-stage stochastic program is designed to address dynamic uncertainty.•Both EVPI and VSS with new metrics are calculated for validation.•An application of the proposed model is investigated with a real case study. Food security is a fundamental prerequisite of human survival. This study focuses on providing a novel bi-objective model for the design of a green closed-loop pomegranate supply chain based on the value chain. To maximize the benefits of circular economy, we propose a thermochemical conversion process and develop a novel hybrid risk-neutral and risk-averse multi-stage stochastic programming (RNRAMSSP) approach to cope with supply uncertainty. We employ the expected value of perfect information (EVPI) and value of stochastic solution (VSS) to validate the proposed approach. For the VSS metric, we define a novel measure to compare the worst-case cost of the stochastic and deterministic model solutions. To demonstrate the applicability of the proposed model, we provide a real case study in Iran. Based on the VSS metric, the risk-neutral and risk-averse stochastic model solutions save up to 1% and 1.76% in the worst-case cost, respectively, compared to the deterministic model. [Display omitted]