scholarly journals Risk Minimisation in Integrated Supply Chains

2019 ◽  
Vol 9 (1) ◽  
pp. 593-599
Author(s):  
Jan Strohmandl ◽  
Zdeněk Čujan
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Customer Service ◽  
Risk Identification ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
The Individual ◽  
Supply Chain Risks ◽  
Identification Analysis ◽  
Criticality Analysis

AbstractIntegrated supply chains, due to their complexity, are vulnerable in relation to various types of risks, especially in the present turbulent market environment, characterised by increased demand for effectiveness of the individual logistic activities, extended customer service and decreased cost. The supply chain risks are represented by any threatening event that may unexpectedly disrupt or restrict material flow, or directly stop the scheduled logistic or manufacturing activities. Supply chain risk management includes risk identification, analysis and implementation of measures against potential risk consequences. This article describes supply chain management, risk elimination methods in the case of a technological breakdown and potential subsequent supply chain failure and application of the modified Failure Mode, Effects & Criticality Analysis (FMECA).

scholarly journals A Neutrosophic AHP and TOPSIS Framework for Supply Chain Risk Assessment in Automotive Industry of Pakistan

2019 ◽  
Vol 12 (1) ◽  
pp. 154 ◽  
Author(s):  
Muhammad Junaid ◽  
Ye Xue ◽  
Muzzammil Wasim Syed ◽  
Ji Zu Li ◽  
Muhammad Ziaullah
Keyword(s):  
Risk Assessment ◽  
Supply Chain ◽  
Supply Chains ◽  
Automotive Industry ◽  
Holistic Approach ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Analytic Hierarchy ◽  
Supply Chain Resilience ◽  
Supply Chain Risks

Risk is inherent in all parts of life and brings consequences, but when it specifically emerges in supply chains, it is susceptible. Therefore, this study aims at identifying and assessing supply chain risks and developing criteria for managing these risks. Supply chain (SC) risks consist of complex, uncertain, and vague information, but risk assessment techniques in the literature have been unable to handle complexity, uncertainty, and vagueness. Therefore, this study presents a holistic approach to supply chain risk management. In this paper, neutrosophic (N) theory is merged with the analytic hierarchy process (AHP) and technique for order of preference by similarity to ideal solution (TOPSIS) to deal with complexity, uncertainty, and vagueness. Then the proposed methodology is practically implemented through a case study on the automotive industry. SC resilience, SC agility, and SC robustness were selected as criteria for managing supply chain risks and analyzed using N-AHP. Furthermore, seventeen risks were identified and assessed by using N-TOPSIS. Results suggest supply chain resilience is the most important criterion for managing supply chain risks. Moreover, supplier delivery delays, supplier quality problems, supplier communication failures, and forecasting errors are the most vulnerable risks that occur in supply chains of the automotive industry in Pakistan.

Toward a supply chain risk identification and filtering framework using systems theory

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jianrong Hou ◽  
Xiaofeng Zhao
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Conceptual Framework ◽  
Risk Identification ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Supply Chain System ◽  
Content Type ◽  
The Hierarchical Structure ◽  
Supply Chain Risks

PurposeThe purpose of the paper is to develop a methodological framework for supply chain risk management using the hierarchical holographic modeling approach. It analyses supply chain risks in a systematic manner and develops a hierarchical methodology for identifying, prioritizing and managing the potential supply chain risks.Design/methodology/approachThis research reviews supply chain risk management literature and develops a conceptual framework, which outlines general principles and guidelines for managing risks in a systematic manner. Through decomposition, the complexity of supply chain risk can be identified by analyzing smaller subsystems.FindingsThe paper provides a conceptual framework to identify supply chain risks from multiple overlapping perspectives. The structured filtering and ranking procedure enables decision-makers to focus on the most critical risks. The research shows that the supply chain risks associated with the sub-systems within the hierarchical structure contribute to and ultimately determine the risks of the overall supply chain system.Research limitations/implicationsThe risks associated with each sub system within the hierarchical structure can contribute to and determine the risks of the overall supply chain system. Further applications in various companies and industry sectors would benefit supply chain managers on a case-by-case basis.Practical implicationsThe hierarchical risk identification framework can serve as guidance for applications to specific supply chain systems and processes. The framework from a holistic overlapping perspective can efficiently and effectively help supply chain managers identify supply chain risks and facilitate the evaluation of the subsystem risks.Originality/valueThe paper applies system thinking in supply chain management and presents an efficient and practical framework for supply chain risk identification and evaluation.

Managing Risk in Small and Medium Enterprises (SMEs) Supply Chains’ Using Quality Function Deployment (QFD) Approach

2013 ◽  
Vol 4 (1) ◽  
pp. 64-83 ◽  
Author(s):  
Mohd. Nishat Faisal
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
Quality Function Deployment ◽  
Risk Mitigation ◽  
Current Status ◽  
Supply Chain Risk Management ◽  
Multiple Sources ◽  
Supply Chain Risk ◽  
Supply Chain Risks

Supply chain risk management (SCRM) is the process of risk mitigation in supply chains achieved through collaboration, coordination and application of risk management tools among the partners, to ensure continuity coupled with long-term profitability of the supply chain. Supply chain risks emanate from multiple sources and similarly risk mitigation in supply chains is dependent on several variables. The most difficult part of supply chain risk management is prioritizing risks and an understanding of the relationships among various types of risks and risk mitigation variables. Drawing from the standard framework, in this research a modified house of quality is developed to understand the relationships between various supply chain risks and risk mitigation variables. It helps to prioritize various risks and understand the current status of the supply chain and the deficient areas with regard to risk mitigation capabilities. The structured QFD process provides the supply chain managers a conceptual map that enables the improvement of planning and control of various risks that could impact a supply chain.

Supply Chain Risk Management

2014 ◽  
Vol 7 (2) ◽  
pp. 80-101 ◽  
Author(s):  
Sumeet Gupta ◽  
Mark Goh ◽  
Robert De-Souza ◽  
Fanwen Meng ◽  
Miti Garg
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
Supply Chain Risk Management ◽  
Effective Management ◽  
Supply Chain Risk ◽  
Day To Day Operations ◽  
Supply Chain Risks

Increasing globalization of the supply chains is making them increasingly vulnerable to various supply chain risks. Effective management of these risks is essential to prevent minor as well as major risks that may occur in day-to-day operations of the firm. In this paper an attempt is made to bring out a schema for analyzing supply chain risks faced by the firm and develop a risk management action framework that would serve as a guide for practitioners to identify the level at which their firms are operating and the strategies they need to employ to combat or prevent supply chain risks. The data is collected by means of an online as well as an event survey from logistics managers of various supply chain firms. Indeed Singaporean firms need to properly document these supply chain risks. Moreover, there are gaps in specific areas where Singaporean firms can improve themselves and thus become globally effective corporations.

Supply Chain Risk Management

2018 ◽  
Vol 11 (3) ◽  
pp. 87-104 ◽  
Author(s):  
K. Madhu Kishore Raghunath ◽  
S. Lakshmi Tulasi Devi
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chains ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Chain Management ◽  
Modern Methods ◽  
Supply Chain Risks

This article describes how as mankind has been ever-evolving, so are their needs, growing in leaps and bounds. Risk management in supply chains have become a prerequisite as it involves a series of steps like procuring, processing, and distribution, where risk has to be managed. Given the advent of technology and transformation of supply chain management from traditional to modern methods, a lot has changed, and of course with ever-evolving technology, the organisations have become adept at handling risks associated with many factors within the organisation and outside the organisation. In this article, the authors will analyse the percentage impact of external and internal supply chain risk factors on various supply chain decisions, and also project various tools available to mitigate Supply chain risks.

scholarly journals How to evaluate supply chain risks, including sustainable aspects? A case study from the German industry

2021 ◽  
Vol 14 (2) ◽  
pp. 120
Author(s):  
Rubén Medina-Serrano ◽  
Reyes González-Ramírez ◽  
Jose Gasco-Gasco ◽  
Juan Llopis-Taverner
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Identification ◽  
German Industry ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Risk Management Process ◽  
Iso 31000 ◽  
Supply Chain Risks

Purpose: Outsourcing transactions have been arisen and evolved in the last years and purchase managers want to know if a Failure Mode Effects and Analysis (FMEA) is an effective qualitative technique to analyze supply chain risks (SCR) in a proper way. The aim of this study is to address this question developing a practicable risk management process based on the guidelines of the ISO 31000 for upstream Supply Chain Risk Management (SCRM) linking risk assessment, risk identification, risk analysis, risk evaluation, risk treatment and validate the process empirically through a case study.Design/methodology/approach: After a review of the literature on Sustainable Supply Chain Risk Management (SSCRM), a case study based on a leading manufacturer of electrical products, collects evidences of SSCRM implementation.Findings: Supply chain disruptions are one of the most critical issues which can negatively influence on firm’s performance. Avoiding and mitigating disruptions in the supply chain is one of the main challenges for supply chain managers.Originality/value: This paper identifies the ISO 31000, the ISO 9001 and the use of an FMEA to analyze supply chain risks in a structured manner and to outline future research opportunities in the field of SCRM.

Understanding Supply Chain Risk Management

2012 ◽  
pp. 349-372 ◽  
Author(s):  
Sumeet Gupta ◽  
Fanwen Meng ◽  
Mark Goh ◽  
Robert De Souza
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
Supply Chain Risk Management ◽  
Effective Management ◽  
Supply Chain Risk ◽  
Day To Day Operations ◽  
Supply Chain Risks

Increasing globalization of the supply chains is making them increasingly vulnerable to various supply chain risks. Effective management of these risks is essential to prevent minor as well as major risks that may occur in day-to-day operations of the firm. In this chapter, an attempt is made to bring out a schema for analyzing supply chain risks faced by the firm and develop a risk management action framework that would serve as a guide for practitioners to identify the level at which they are operating and the strategies they need to employ to combat or prevent supply chain risks. The data is collected by means of an online as well as an event survey from logistics managers of various supply chain firms. Indeed Singaporean firms need to properly document these supply chain risks. Moreover, there are gaps in specific areas where Singaporean firms can improve themselves and thus become globally effective corporations.

scholarly journals Conceptualising the moderating role of knowledge management within supply chain risks and supply chain risk management

2019 ◽  
Vol 3 (2) ◽  
pp. 209 ◽  
Author(s):  
Umair Waqas ◽  
Azmawani Binti Abd. Rahman ◽  
Normaz Wana Ismail ◽  
Norazlyn Kamal Basha ◽  
Sonia Umair
Keyword(s):  
Risk Management ◽  
Knowledge Management ◽  
Supply Chain ◽  
Management Strategies ◽  
Risk Identification ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Risk Management Strategies ◽  
Trading Partners ◽  
Supply Chain Risks

There is a dearth of empirical and theoretical investigation in the field of supply chain risk management. Even though SCRM is an important component in supply chain management research, there is still a lack of understanding regarding the term and the concept to develop advantageous SCRM. In the literature of SCRM, different aspects have been discussed, for instance, risk identification, risk assessment, risk management strategies, risk monitoring, and contingency plans. Supply chain risks are increasing because of multiple outsourced partners linked with each other making it more complex, along with this, business is also uncertain, so these scenarios increase supply chain risks. Knowledge management has been used to know about the market scenarios and the information of trading partners and supply chain managers from different firms to know about the uncertainty or risks. However, the discussion shows that the efficient implication of KM capabilities on the SCRs and SCRM is still lacking. This paper provides a comprehensive conceptual framework on the effect of knowledge management within supply chain risk and supply chain risk management.

scholarly journals Effect Of Supply Chain Risk Management On Organization Performance: A Case Study Of National Foods Manooabad Muridke District Sheikhupura

2019 ◽  
Vol 1 (1) ◽  
pp. 1-7
Author(s):  
Shafiq Ahmad ◽  
Muhammad Arfan Hadyait ◽  
Muhammad Mohsin Rashid
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Risk Identification ◽  
Mitigation Strategies ◽  
Control Measures ◽  
General Context ◽  
Organization Performance ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Supply Chain Risks

Purpose: Previously there are many studies that focused on risk management in general context and little attention was paid on how supply chain risks management effects an organization profit and performance. The main aim of our study to explore the effect of supply chain risk management on organization performance in national foods Manooabad Muridke district Sheikhupura. Methodology: This study conducted in National foods Manooabad Muridke. Data were collected by using questioner from the employees of National foods Manooabad Muridke. SPSS 22 (Statistical package for social sciences) was used to analyze the collected data. Main Findings: This study is an attempt to check the effects of supply chain risk management variables to the performance of the organization. Three main supply chain risk management variables were identified namely, supply chain risk identification, supply chain risk sources and supply chain risk mitigation. We find that risk register method is mainly used for the identification of risks in the supply chain at any level. The most important risks of our study that are supplier risks, environmental risks, political risks, markets risks, warehousing risks, and financial risks. In mitigation strategies that are good to mitigate the risk in supply chain risk avoidance measures, risk control measures and risk cooperation measures. Applications: We concluded that it is important for an organization to identify risks proactively as early as possible in the decision-making process. Different types of risks need to be identified in all process of supply chains. After all the identification of risks, the organization needs to be mitigated these risks by using different mitigate strategies plan. Originality: In the future, this study will be helpful for many organizations which deal with food items consumed by people. As in this study, we worked on supply chain risks and their management before many studies were conducted generally on risk management so this study especially focused on supply chain risks. There is a need to conduct more study in this regard in different industries so better information available to people to control risks in supply chain management.

Managing Risk in Small and Medium Enterprises (SMEs) Supply Chains' Using Quality Function Deployment (QFD) Approach

2015 ◽  
pp. 1469-1489
Author(s):  
Mohd. Nishat Faisal
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
Risk Mitigation ◽  
Supply Chain Risk Management ◽  
Multiple Sources ◽  
Supply Chain Risk ◽  
Planning And Control ◽  
Managing Risk ◽  
Supply Chain Risks

Supply chain risk management (SCRM) is the process of risk mitigation in supply chains achieved through collaboration, coordination and application of risk management tools among the partners, to ensure continuity coupled with long-term profitability of the supply chain. Supply chain risks emanate from multiple sources and similarly risk mitigation in supply chains is dependent on several variables. The most difficult part of supply chain risk management is prioritizing risks and an understanding of the relationships among various types of risks and risk mitigation variables. Drawing from the standard framework, in this research a modified house of quality is developed to understand the relationships between various supply chain risks and risk mitigation variables. It helps to prioritize various risks and understand the current status of the supply chain and the deficient areas with regard to risk mitigation capabilities. The structured QFD process provides the supply chain managers a conceptual map that enables the improvement of planning and control of various risks that could impact a supply chain.

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