Select the best supply chain by risk analysis for Indian industries environment using MCDM approaches

2017 ◽  
Vol 24 (5) ◽  
pp. 1400-1413 ◽  
Author(s):  
Mahesh Chand ◽  
Tilak Raj ◽  
Ravi Shankar ◽  
Aashish Agarwal
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Analysis Method ◽  
Rational Analysis ◽  
Content Type ◽  
Different Types ◽  
Network Process ◽  
Indian Industries ◽  
Selection Of

Purpose Risk management in supply chain (SC) is not an easy task due to different uncertainty and intricacy. Management of risk is necessary for smooth operation of SC. The purpose of this paper is to demonstrate multi-criteria decision-making (MCDM) approaches to select the best SC which has minimum risks. Design/methodology/approach In proposed methodologies different steps, i.e. goal, risk attributes, risk sub-attributes and alternatives are identified for the selection of best SC using analytical network process which is being followed by the Multi-Objective Optimization by Rational Analysis method. Findings Findings of this paper are highly valuable for Indian manufacturing industries for risk management in SC. It helps the researchers and managers to deal with different types of uncertainty and risks associated with SC. Research limitations/implications This research is limited only for risk management in SC. Other issues in SC can be analyzed and further extended by other MCDM approaches. Originality/value This paper identified the different risks in SC and a systematic way to find out the best SC which helps the researchers and managers in risk mitigation.

Incorporating the risk of knowledge loss in supply chain risk management

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abdelkader Daghfous ◽  
Abroon Qazi ◽  
M. Sajid Khan
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Relevant Literature ◽  
Future Research ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Knowledge Loss ◽  
Content Type ◽  
Knowledge Based

PurposeThe literature on supply chain risk management (SCRM) has investigated a multitude of supply chain risks. This paper aims to make a case for the importance of managing the risk of knowledge loss in the supply chain management (SCM) function and incorporating knowledge loss as a critical risk within the SCRM process.Design/methodology/approachThis paper adopts a knowledge-based view of the SCRM process and attempts to bring to light insights based on a synthesis of the relevant literature. The authors conducted a systematic literature review of peer-reviewed articles published between 1998 and 2019. Further, a case study was conducted to illustrate the significance of the risk of knowledge loss in the SCM function in terms of how it operates and why it has such a significant impact on performance.FindingsKnowledge loss is a relatively neglected type of supply chain risk that can be added to the existing typologies. This paper argues that knowledge loss in the SCM function has the propensity to significantly impact the performance of the focal firm, exacerbate other types of supply chain risk and impede risk mitigation efforts. We put forth several strategies that supply chain managers can adopt to mitigate the risk of knowledge loss in their function.Research limitations/implicationsThis paper generates an exploratory opening that could pave the way for a systematic theory of knowledge loss as a supply chain risk and future empirical research. The study culminates in a number of important insights and initiatives for supply chain managers to recognize and manage the risk of knowledge loss.Originality/valueThis paper argues for the importance of incorporating the risk of knowledge loss in SCRM research and practice. It also provides an examination of some promising angles for future research in SCRM from a knowledge-based perspective.

scholarly journals Reverse logistics risk management: identification, clustering and risk mitigation strategies

2020 ◽  
Vol 58 (7) ◽  
pp. 1449-1474 ◽  
Author(s):  
Hamidreza Panjehfouladgaran ◽  
Stanley Frederick W.T. Lim
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Supply Chain ◽  
Reverse Logistics ◽  
Risk Mitigation ◽  
Mitigation Strategies ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Content Type ◽  
Risk Mitigation Strategies

PurposeReverse logistics (RL), an inseparable aspect of supply chain management, returns used products to recovery processes with the aim of reducing waste generation. Enterprises, however, seem reluctant to apply RL due to various types of risks which are perceived as posing an economic threat to businesses. This paper draws on a synthesis of supply chain and risk management literature to identify and cluster RL risk factors and to recommend risk mitigation strategies for reducing the negative impact of risks on RL implementation.Design/methodology/approachThe authors identify and cluster risk factors in RL by using risk management theory. Experts in RL and supply chain risk management validated the risk factors via a questionnaire. An unsupervised data mining method, self-organising map, is utilised to cluster RL risk factors into homogeneous categories.FindingsA total of 41 risk factors in the context of RL were identified and clustered into three different groups: strategic, tactical and operational. Risk mitigation strategies are recommended to mitigate the RL risk factors by drawing on supply chain risk management approaches.Originality/valueThis paper studies risks in RL and recommends risk management strategies to control and mitigate risk factors to implement RL successfully.

The role of digitalized information sharing for flexibility capability utilization: lessons from Germany and Japan

2021 ◽  
Vol 51 (2) ◽  
pp. 181-203
Author(s):  
Mathias Doetzer ◽  
Alexander Pflaum
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Information Sharing ◽  
Risk Mitigation ◽  
Digital Information ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Content Type ◽  
Time Accuracy

PurposeInformation-sharing and flexibility are considered to be major tools for risk mitigation and supply chain resiliency. However, less light has been shed on the role of information-sharing as an enabler to utilize flexibility capabilities before and after supply chain disruptions. The aim of this paper is to provide indications on how digitalized information-sharing (DIS) enhances flexibility capability utilization.Design/methodology/approachThe methodology follows a qualitative approach, including 31 transcribed semi-structured interviews with supply chain experts in Germany and Japan.FindingsThe findings indicate that DIS supports flexibility capability utilization in pre- and post-disruptive supply chain management. First, the enhancement of estimated transport time accuracy supports rapid supplier and transport mode adjustment. Second, while the effects of DIS in manufacturing are limited without pre-existing flexibility capabilities, steady internal and external DIS utilizes exciting manufacturing flexibility to cope with disruptions beyond production. Third, track and trace technologies enhance the value of shared data and allow flexibility in the form of demand-oriented distribution, but companies unable to adopt technologies can still enhance flexibility capabilities with DIS using the existing infrastructure.Originality/valueThis paper highlights the essential role of digital information-sharing for flexibility utilization in supply chain risk management. While existing studies engaged with flexibility and information-sharing in supply chain risk management, this study contributes by emphasizing digital information-sharing as a key triggering enabler for flexibility in pre- and post-disruptive phases.

Development of a decision support system for assessing the supply chain risk mitigation strategies: an application in Indian petroleum supply chain

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pradeep Kumar Tarei ◽  
Jitesh J. Thakkar ◽  
Barnali Nag
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Decision Support ◽  
Support System ◽  
Risk Sharing ◽  
Risk Mitigation ◽  
Mitigation Strategies ◽  
Supply Chain Risk ◽  
Content Type ◽  
Risk Mitigation Strategies

PurposeThe purpose of this paper is to develop a decision support system (DSS) to assist supply chain (SC) risk managers to select a suitable risk management (RM) strategy and expedite the implementation of corresponding RM enablers. The relationship between RM strategies and RM enablers is explored by identifying the underlying factors between them, which is further used to build the DSS.Design/methodology/approachThe DSS is built by integrating heterogeneous techniques. A systematic review approach is employed to explore both proactive and reactive RM enablers, and they are further mapped to various RM strategies by using correspondence analysis (CA). An in-depth interview is conducted to develop the rules for constructing the decision system. A rule-based fuzzy inference system (FIS) is utilized to counteract the uncertainty involved in the decision variables. The efficacy of the proposed DSS is demonstrated by considering two conjectural scenarios in the case of Indian petroleum SC (IPSC).FindingsThe results reveal three primary underlying factors between the risk mitigation strategies viz. SC managers' preparedness to face risk, organization's resource capability to deal with risk and the sophistication of the implementation of the RM enablers; with explained variances of 37%, 29% and 22%, respectively. Risk avoidance strategy comprises of RM enablers such as supplier evaluation, technology adaption, information security, etc. Whereas, the risk-sharing strategy includes revenue sharing, insurance, collaboration, public-private-partnership, etc. as essential RM enablers. The DSS recommends risk-mitigation and risk-sharing as effective RM strategies for the IPSC under the considered scenarios.Research limitations/implicationsThis paper develops a decision support framework for recommending an effective risk mitigation strategy and outranking the corresponding enablers. The study explicitly focuses on the risk mitigation step of the supply chain risk management (SCRM) process. Pre- and post-risk mitigation steps of the SCRM process, such as risk assessment and risk monitoring are beyond the scope of this research.Originality/valueThe operational procedure of the proposed DSS is explained by considering a real-life case of petroleum SC in the Indian scenario. The unique contributions of this study are presented as theoretical implications and managerial propositions in the context of a developing country.

Halal risk management: combining robustness and resilience

2017 ◽  
Vol 8 (3) ◽  
pp. 461-475 ◽  
Author(s):  
Marco Tieman
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Value Chain ◽  
Risk Mitigation ◽  
Risk Prevention ◽  
Reputation Management ◽  
Supply Chain Risk ◽  
Content Type ◽  
Communication Plan ◽  
Conceptual Paper

Purpose The purpose of this paper is to introduce a supply chain view of a robust and resilient halal brand. In this conceptual paper, a risk prevention-mitigation-recovery cycle is proposed. Design/methodology/approach This paper builds further on previous work published in the Journal of Islamic Marketing on Islamic branding and halal supply chain management. Hypotheses are developed on the intensity of risk management. Findings Integrity of halal products is becoming an increasing concern for governments and industries. Three halal supply chain risk cycles are proposed: (1) risk prevention: risk vulnerability assessment, supply chain (re)design, vertical and horizontal collaboration, monitoring; (2) risk mitigation: investigative audits, cross-functional team, risk mitigation and communication plan, monitoring; and (3) risk recovery: risk recovery and communication plan, resume operations, maintain employee support, review risk mitigation and recovery plans. Research limitations/implications This conceptual paper proposes three halal supply chain risk cycles to better organise risk management in halal supply chains. However, more empirical research on halal risk management is needed to validate these risk management cycles. Practical implications To better protect halal brands and corporate reputation, there are evident benefits of extending halal assurance towards the supply chain, for which prevention-mitigation-recovery cycles are proposed. Originality/value As halal is going through an evolution, towards a halal supply chain and value chain, halal-certified brands need better protection. It is the first study investigating halal risk and reputation management for halal-certified brands.

A scale for measuring organizational risk management maturity in the supply chain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Scott Dellana ◽  
William J. Rowe ◽  
Ying Liao
Keyword(s):  
Cluster Analysis ◽  
Risk Management ◽  
Factor Analysis ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Supply Chain Risk Management ◽  
General Measure ◽  
Content Type ◽  
Organizational Risk ◽  
The Usa

PurposeThe purpose of this research is to develop a validated general measure of supply chain risk management maturity (SCRMM) to assess organizational risk management maturity in the context of the supply chain (SC).Design/methodology/approachDimensions and statements measuring SCRMM were developed through a literature review and consultation with experts. The instrument was refined through a pilot study and a full-scale study of 140 SC managers in the USA. A final SCRMM instrument, consisting of 25 statements, was obtained through scale purification, exploratory factor analysis, reliability analysis, and confirmatory factor analysis of construct validity. Cluster analysis was conducted to characterize the organizational groupings with respect to the instrument dimensions.FindingsSCRMM was found to be comprised of the three main dimensions of SC Risk Management Orientation, Enterprise Risk Management Integration (ERMI), and SC Risk Collaboration. ERMI was found to be comprised of the three sub-dimensions of SC Risk Mitigation, Improvement of Risk Management Processes, and Organization Internal Risk Management. Cluster analysis revealed three groups characterized according to SCRMM as leaders, followers, and laggards.Research limitations/implicationsThe findings are based on a sample in the USA, so the SCRMM scale may not generalize to supply chains in other countries or geographic regions.Practical implicationsThe instrument provides a self-assessment and benchmark tool for businesses to advance their SC risk management through different stages of maturity.Originality/valueThis is a pioneering general instrument that treats risk management maturity of the organization in the context of the SC. Participants span many industries and SC positions.

Benchmarking the relationship between supply chain risk mitigation strategies and practices: an integrated approach

2020 ◽  
Vol 27 (5) ◽  
pp. 1683-1715 ◽  
Author(s):  
Pradeep Kumar Tarei ◽  
Jitesh J. Thakkar ◽  
Barnali Nag
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Management Practices ◽  
Risk Mitigation ◽  
Real Life ◽  
Integrated Approach ◽  
Mitigation Strategies ◽  
Supply Chain Risk ◽  
Content Type ◽  
The Relationship

PurposeThe purpose of this paper is to explore the relationship between various risk management strategies and risk management practices in order to design and hence enact a suitable supply chain risk mitigation (RM) plan. Additionally, this study proposes a hierarchical framework to explain the mutual relationship between supply chain risk management (SCRM) practices and strategies by considering the underlying dimensions between them.Design/methodology/approachAn amalgamation of systematic literature analysis (SLA) and correspondence analysis (CA) has been performed to develop the conceptual framework. A real-life case of Indian petroleum supply chain has been considered to validate and explain the proposed model.FindingsThe results reveal three underlying dimensions, which associate the relationship between RM strategies. They are, risk adaptability of SC managers with a variance of 34.71%, followed by resource capability of the firm and the degree of sophistication of RM practices, with variances of 27.72 and 20.35%, respectively. Risk avoidance strategy comprises of practices such as supplier evaluation, technology adaption, flexible process and information security. On the other extreme, the risk sharing strategy includes revenue sharing, insurance, collaboration, public–private partnership and so on as essential RM practices.Research limitations/implicationsThe study not only focuses on the distinction between RM strategies and practices, which were used interchangeably in the prior literature, but also provides an association between the same by exploring the underlying dimensions. These underlying dimensions perform a crucial role while developing a risk management plan. This study explicitly focuses on the RM step of SCRM process. Pre and post risk mitigation phases of SCRM process, such as risk assessment and risk monitoring, are beyond the scope of the current research.Originality/valueThe paper develops a framework for mapping various RM strategies with their corresponding practices by considering the Indian petroleum supply chain as a viable case study. Various theoretical and business implications are derived in the context of the developing country.

Examining the role of stakeholder pressure and knowledge management on supply chain risk and demand responsiveness

2014 ◽  
Vol 25 (1) ◽  
pp. 202-223 ◽  
Author(s):  
David E. Cantor ◽  
Jennifer Blackhurst ◽  
Mengyang Pan ◽  
Mike Crum
Keyword(s):  
Risk Management ◽  
Knowledge Management ◽  
Supply Chain ◽  
Structural Equation ◽  
Risk Mitigation ◽  
Equation Modeling ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to contribute to the supply chain risk management literature by examining how stakeholders place pressure on the firm to engage in risk management activities. Design/methodology/approach – This paper utilizes a survey approach to test the nomological model. The analysis was carried out using structural equation modeling techniques. Findings – The results demonstrate that stakeholders place pressure on the firm to mitigate risk and that knowledge management (KM) and joint planning activities with suppliers serve as mediating roles in the model. The process-oriented model reveals that these factors influence the firm's ability to be responsive to customer demand. Originality/value – The research represents one of the first papers to empirically test how stakeholder theory and KM contributes to risk mitigation activities. Additionally, the paper shows the impact of KM factors on risk mitigation activities. The paper attempts to explain from both a theoretical and empirical perspective how and why firms are engaging in risk mitigation activities and how the impacts demand responsiveness.

scholarly journals A production transfer procedure based on risk management principles

2019 ◽  
Vol 12 (1) ◽  
pp. 103-150 ◽  
Author(s):  
Maria Flavia Mogos ◽  
Anna Fredriksson ◽  
Erlend Alfnes
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Design Science ◽  
Research Problem ◽  
Preparation Procedure ◽  
Supply Chain Disruptions ◽  
Content Type ◽  
Physical Knowledge ◽  
Management Actions

PurposeThis paper aims to develop a procedure for preparing production transfers based on risk management principles. The procedure should help companies reduce the amount of supply chain disruptions during transfers and achieve their outsourcing/offshoring objectives.Design/methodology/approachThe procedure was developed during a three-year Design Science study. First, a literature review and case studies were conducted to frame the research problem. Second, a preliminary procedure was developed based on preventive risk mitigation actions from the production transfer literature. Third, the procedure was implemented during an electronics-offshoring case and refined during workshops with the sender and receiver’s transfer personnel. Fourth, during a seminar, transfer practitioners verified the procedure by applying it to outsourcing/offshoring cases with which they had experience.FindingsMost of the preventive actions were evaluated as relevant for the transfers the procedure was applied to, regardless of industry and relocation type. Moreover, the electronics-offshoring case showed that the success of a production transfer not only depends on the physical, knowledge and supply chain transfers, as presented in earlier research, but also on the administrative transfer and on the organisation, project and quality management actions. This paper also attempts to enhance the production transfer literature by clarifying transfer risk management.Practical implicationsThe procedure can be used during the production transfer phase as a preparation procedure. Moreover, it informs the decision-making process during the relocation-decision and supplier-selection phases.Originality/valueTo the authors’ knowledge, this is the first production-transfer-preparation procedure based on risk management principles.

Proactive risk mitigation strategies and supply chain risk management performance: an empirical analysis for manufacturing firms in Turkey

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yesim Can Saglam ◽  
Sibel Yildiz Çankaya ◽  
Bulent Sezen
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Mitigation ◽  
Business Environment ◽  
Mitigation Strategies ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Content Type ◽  
Risk Mitigation Strategies ◽  
The Relationship

PurposeIn spite of its potential benefits in a wide range of situations, supply chain risk mitigation strategies have received scant attention on the subject of managing the supply chain risk in the business environment. Especially, there is still a limited understanding of the importance of firms’ supply chain flexibility, resilience and responsiveness in the supply chain risk management (SCRM) literature. This research focuses on exploring the relationship between significant proactive risk mitigation strategies, namely supply chain (SC) flexibility, resilience and responsiveness, as well as SCRM performance to facilitate bridging the gap between mitigation strategies and SCRM performance. The moderating role of risk management (RM) culture was also hypothesized and tested.Design/methodology/approachA survey-based methodology is adopted. The data are analyzed using the technique of partial least squares.FindingsThe results indicate that SC resilience and responsiveness are positively associated with SCRM performance; however, SC flexibility does not. In addition, interestingly, RM culture does not moderate these relationships in spite of the extant literature. We argue that this could be due to the fact that risk management culture is at the beginning stage for an enterprise in Turkey.Originality/valueThis study extends the existing literature by advancing the knowledge on the relationship between proactive risk management strategies, which applied to overcome uncertainties and SCRM performance.

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