scholarly journals SUPPLY CHAIN RISK MANAGEMENT BY MONTE CARLO METHOD

2017 ◽  
Vol 7 (4) ◽  
pp. 20-23
Author(s):  
Tomasz Rymarczyk ◽  
Grzegorz Kłosowski
Keyword(s):  
Artificial Intelligence ◽  
Neural Networks ◽  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Supply Chain ◽  
Cost Estimation ◽  
Historical Data ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Chain Management

In this paper, the conceptual model of risk-based cost estimation for completing tasks within supply chain is presented. This model is a hybrid. Its main unit is based on Monte Carlo Simulation (MCS). Due to the fact that the important and difficult to evaluate input information is vector of risk-occur probabilities the use of artificial intelligence method was proposed. The model assumes the use of fuzzy logic or artificial neural networks – depending on the availability of historical data. The presented model could provide support to managers in making valuation decisions regarding various tasks in supply chain management.

scholarly journals A Supply Chain Vulnerability Map for the Automotive and Electronic Industries in Brazil

2020 ◽  
Vol 3 (2) ◽  
pp. 83 ◽  
Author(s):  
Mauricio F. Blos ◽  
Hui-Ming Wee
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Historical Data ◽  
Methodological Approach ◽  
Real Data ◽  
Economic Downturn ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Vulnerability Map ◽  
Hazard Vulnerability

This paper aims to explore various perspectives of the Supply Chain Risk Management (SCRM) as they relate to the automotive and electronic industries in Brazil based on the historical data from 2010 to 2016. The methodological approach was based on the Supply Chain Vulnerability Map (SCVM). The SCVM was tested in its totaliness and two more riskswere added to the hazard vulnerability category to form the SCVM II. The exploratory surveys were used to better understand the impacts on the automotive and electronic industries in Brazil during the study period. An interesting finding was that most of the major automotive and electronic industries are concerned with integrating risk management, governance and compliance in the supply chain. The findings of the empiricalinvestigation and SCRM historical data indicate that managers must integrate risk management, governance and compliance in the supply chain and use the proposed SCVM II. This research revealed the risks that surrounded the supply chain during the time period covered. In the study, the researchers added two more risks to the hazard vulnerability category: item 10, deficient rainfall (as seen in Manaus and São Paulo) and number 13, viral epidemics (to reflect the Zika virus around Brazil), it was named as SCVMII. Among the limitations of the research was that the study applied real data which might vary drastically due to economic downturn of the country. This might affect the performance of the investigated industries.

A Review of Supply Chain Risk Management in Agribusiness Industry

2018 ◽  
pp. 5550-5558
Author(s):  
Sri Widiyanesti ◽  
Yudi Fernando
Keyword(s):  
Supply Chain ◽  
Supply And Demand ◽  
Production Costs ◽  
Raw Material ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Chain Management ◽  
Balanced Distribution ◽  
Management Concept ◽  
Agricultural Business

Supply chain of agricultural commodities becomes a major concern of Indonesian scholars and practitioners. Many companies engaged in this industry unable to survive in the market. This is contrary to the natural conditions of Indonesia with abundant natural resources and plenty of commodity producers. Problems often arise in the field of supply chain risk which link to commodities in Indonesia, among others: price fluctuation, the scarcity of the commodity, supply and demand are not balanced, distribution and production costs are expensive, raw material commodities that are imported, and natural disasters. Companies which engaged in agricultural business have high risk of survival and not even grow. To overcome this challenges the this chapter intend to review supply chain management concept by look at risk consideration may arise in the business uncertainties. The lack of studies to investigate the risk factors in agribusiness makes this study contribute to the supply chain literature.

Supply Chain Risk Management Driven By Action Learning

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.

scholarly journals Integrated supply chain risk management

2007 ◽  
Vol 1 (1) ◽  
Author(s):  
Riaan Bredell ◽  
Jackie Walters
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Theory And Practice ◽  
Modern World ◽  
Management Decision ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Chain Management ◽  
Integrated Supply Chain

Integrated supply chain risk management (ISCRM) has become indispensable to the theory and practice of supply chain management. The economic and political realities of the modern world require not only a different approach to supply chain management, but also bold steps to secure supply chain performance and sustainable wealth creation. Integrated supply chain risk management provides supply chain organisations with a level of insight into their supply chains yet to be achieved. If correctly applied, this process may optimise management decision-making and assist in the protection and enhancement of shareholder value.

Promising research fields in supply chain risk management and supply chain resilience and the gaps concerning human factors: A literature review

Work ◽  
2020 ◽  
Vol 67 (2) ◽  
pp. 487-498
Author(s):  
Pedro Senna ◽  
Augusto da Cunha Reis ◽  
Alexandre Castro ◽  
Ana Claudia Dias
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Literature Review ◽  
Human Factors ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Related Factors ◽  
Chain Management ◽  
Supply Chain Resilience

BACKGROUND: Recent studies concerning supply chain management have shown that topics such as supply chain risk management (SCRM) and supply chain resilience (SCRes) are the new trends in supply chain management. Initial studies in the early 2000s developed frameworks to identify, measure and mitigate risks and assess/evaluate the degree of resilience of a company or supply chain. Recently, a large variety of studies has emerged, including more conceptual and review studies as well as more sophisticated, quantitative studies. However, studies on human-related factors are still lacking, and there is no systematic method to answer questions such as “What literature is available concerning human factors related to SCRM and SCRes?”, “Which human factors contribute to SCRes?” and “Which human factor can amplify SC Risks?” OBJECTIVE: The main goal of this paper is to conduct a systematic literature review to identify human factors that impact supply chain resilience and supply chain risk management. METHOD: This study was performed using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) method. The objective of using this review protocol is to ensure that the review has the minimum amount of bias due to research expectations. RESULTS: This study highlighted a summary of human-related risk and resilience factors as well as a discussion about these preliminary findings. CONCLUSIONS: As our main conclusion, we highlight that human factors may generate significant risks in the supply chain, nevertheless, there are other human factors that must be nourished to obtain SCRes.

The Human Side of Supply Chains

2012 ◽  
pp. 290-314 ◽  
Author(s):  
Alessandro Ancarani ◽  
Carmela Di Mauro
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chain Risk Management ◽  
Supply Chain Risk ◽  
Time Effects ◽  
Chain Management ◽  
Future Developments ◽  
Perception Time ◽  
Human Side

The adoption of the behavioural approach for the study of OM and Supply Chain Management is still fairly novel. However, there is evidence that in order to improve supply chain management it is crucial to develop models that correctly describe human behaviour. Failure to account for behavioural components such as risk perception, time effects and social interaction may lead to models that are biased in their predictions. This chapter reviews extant behavioural research relevant to supply chain risk management. In particular, its implications for supply chain management are outlined, and opportunities for future developments of theory that is robust to behavioural effects are identified.

Sustainability, Risk, and Business Intelligence in Supply Chains

2016 ◽  
pp. 501-538 ◽  
Author(s):  
Merve Er Kara ◽  
Seniye Ümit Oktay Fırat
Keyword(s):  
Risk Management ◽  
Supply Chain ◽  
Supply Chains ◽  
Business Intelligence ◽  
Supply Chain Risk Management ◽  
Sustainable Supply Chain ◽  
Supply Chain Risk ◽  
Chain Management ◽  
Management Concepts ◽  
The Relationship

Sustainable Supply Chain Management has become one of the most important managerial trends nowadays. Companies can optimize their supply chains by integrating risk management and sustainability programs. This chapter explains sustainability and risk management concepts in supply chains and discusses the relationship between these two issues in a multidirectional way. Business Intelligence tools are addressed in terms of their role and importance in supporting the management of supply chains, their risks and sustainability. The aim of the chapter is to provide a background to better understand the link between supply chain risk management, sustainability and business intelligence.

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