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

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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Supply Chain Risk Management

International Journal of Information Systems and Supply Chain Management ◽

10.4018/ijisscm.2014040105 ◽

2014 ◽

Vol 7 (2) ◽

pp. 80-101 ◽

Cited By ~ 3

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.

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Supply Chain Risk Management

International Journal of Information Systems and Supply Chain Management ◽

10.4018/ijisscm.2018070105 ◽

2018 ◽

Vol 11 (3) ◽

pp. 87-104 ◽

Cited By ~ 6

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.

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Understanding Supply Chain Risk Management

Cases on Supply Chain and Distribution Management ◽

10.4018/978-1-4666-0065-2.ch016 ◽

2012 ◽

pp. 349-372 ◽

Cited By ~ 1

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.

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Supply Chain Risk Management

International Journal of Information Systems and Supply Chain Management ◽

10.4018/ijisscm.2014070101 ◽

2014 ◽

Vol 7 (3) ◽

pp. 1-23 ◽

Cited By ~ 4

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.

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Using IoT in Supply Chain Risk Management, to Enable Collaboration between Business, Community, and Government

Smart Cities ◽

10.3390/smartcities4030052 ◽

2021 ◽

Vol 4 (3) ◽

pp. 995-1003

Author(s):

Li Meng

Keyword(s):

Social Media ◽

Risk Management ◽

Supply Chain ◽

Risk Mitigation ◽

Value Added ◽

Business Community ◽

Supply Chain Risk Management ◽

Supply Chain Risk ◽

Business Services ◽

Difficult Times

The internet of things (IoT) and social media provide information related to disasters that could help businesses to strategically mitigate risks and optimize their supply chain during difficult times. This paper proposes a framework to show how business or supply chain enterprisers can collaborate with community and government in disaster supply chain risk management. Businesses must have an established risk mitigation plan, update it periodically and implement promptly. Community collaboration can build a resilient society, and government should play an important role in leading both financial and non-financial support during natural disasters and pandemic management. The IoT and social media are new mechanisms as a vocal point to enable government, ensuring trustworthiness of information, to provide the community with a means to express needs and feedback, and to assist business services to meet the changeable preferences under risk threats. Social media can be a collaborative effort between all the parties and helps make value added decisions efficiently in supply chain risk management.

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Incorporating the risk of knowledge loss in supply chain risk management

The International Journal of Logistics Management ◽

10.1108/ijlm-06-2020-0225 ◽

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.

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A Comprehensive Risk Management Tool Based on Multi-Agents and System Dynamics for Traditional and E-Commerce Supply Chain

Handbook of Research on Applied Optimization Methodologies in Manufacturing Systems - Advances in Logistics, Operations, and Management Science ◽

10.4018/978-1-5225-2944-6.ch010 ◽

2018 ◽

pp. 212-230

Author(s):

Sultan Ceren Oner ◽

Mahir Oner

Keyword(s):

Risk Management ◽

Supply Chain ◽

System Dynamics ◽

Management Tool ◽

Supply Chain Risk Management ◽

Supply Chain Risk ◽

Rapid Changes ◽

Management Paradigms ◽

Supply Chain Risks ◽

Integrated Supply Chain

Supply chain management paradigms are becoming increasingly common management perspectives all over the world due to violent global competition of trade organizations and rapid changes in technology. In recent years, thanks to the communication improvements, customers have become more conscious about purchasing goods or services. Furthermore, organizations have to be customer oriented and more flexible against the dynamism of supply chain environment which increases uncertainties in supply chain parameters. Although a considerable amount of risk factors appearing in supply chain operations, this study concentrates on detecting key supply chain risks which could cause abnormalities and occur from rapid changes in customer demand, unpredictable price fluctuations, defect variations and delivery delays and provides the correction of these problems automatically. Thus, a system dynamics model is established for determining risks. This combined approach would be helpful for integrated supply chain risk management.

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Supply Chain Risk Management Driven By Action Learning

Supply Chain Optimization, Management and Integration ◽

10.4018/978-1-60960-135-5.ch015 ◽

2011 ◽

pp. 212-229

Author(s):

H.P. Borgman ◽

Wilfred Rachan

Keyword(s):

Risk Management ◽

Supply Chain ◽

Supply Chain Management ◽

Risk Mitigation ◽

Action Learning ◽

Supply Chain Risk Management ◽

Supply Chain Risk ◽

Chain Management ◽

Sustainable Improvement ◽

The Difference

This chapter is the outcome of our consolidated learning on “Supply Chain Risk Management” and “Action Learning in Supply Chains” over a period from 2006 to 2010. We have also published several papers in this domain; please refer to the bibliography section. Although there is a substantial volume of literature on the topic of Supply Chain Management and no lack of coverage today on Risk Management, our motivation was guided by our desire to put into context, both from an academic and Industry perspective, a practical methodology for supply chain risk mitigation based on a proven theory of learning. This methodology will enable industry practitioners of supply chain management to comprehend and act upon risk i.e. identification, assessment, response, monitoring and evaluation. Risk Management in Supply Chain is not a “one-off” transaction but rather an ongoing practice of problem solving and organizational learning i.e. a continuous methodology for sustainable improvement. The methodology provides a means to structure past problems as knowledge to be used by the organization and increase preparedness for facing new challenges. In a global competitive market, successful management of risk in supply chain can be the difference between corporate success and failure.

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

Sustainability ◽

10.3390/su12010154 ◽

2019 ◽

Vol 12 (1) ◽

pp. 154 ◽

Cited By ~ 8

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.

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