Perspectives in supply chain risk management (original) (raw)

Supply chain risk management: review, classification and future research directions

Int. Journal of …, 2011

In order to be more efficient, firms have adopted strategies such as outsourcing, global partnerships and lean practices. Although such strategies have tremendous abilities to improve the efficiencies but simultaneously they make the firms vulnerable to market uncertainties, dependencies and disruptions. Moreover, natural calamities and manmade crises have also put negative impact on strategic, operational and tactical performance of supply chains. These factors have triggered the interest of academia and industry to consider the risk issues as prime concerns. To capture the more fine-grained elements of diversified risk issues related to the supply chain we employ a multi-layered top town taxonomy to classify and codify the literature and put forward the probable dimensions for future research. We further study the pool of SCRM literature focusing on coordination, decision making and sector-wise SCRM implementation issues and derive relevant propositions.

A Review of Supply Chain Risk Management: Definition, Theory, and Research Agenda

Purpose: To review the extant literature on supply chain risk management (SCRM, including risk identification, assessment, treatment, and monitoring), developing a comprehensive definition and conceptual framework; to evaluate prior theory use; and to identify future research directions. Design/methodology/approach: A systematic literature review of 354 articles (published 2000-2016) based on descriptive, thematic, and content analysis.

Supply Chain Risk Management: Literature Review and Future Research

2009

to 2007 are analysed and classified into five categories: conceptual, descriptive, empirical, exploratory cross-sectional, and exploratory longitudinal. We also looked at the papers in terms of the types of risks, the unit of analysis, the industry sectors, and the risk management process or strategies addressed. The literature review will provide the basis for outlining future research opportunities in this field.

Managing Risks and Disruptions in Global Supply Chains

Journal of Marketing Channels, 2009

Controlling and assessing risk and supply chain disruption is a significant aspect of a firm's overall supply chain management strategy. Issues with supply chain vulnerability are causing many firms to look at new, unique ways in which to mitigate the risk associated with the uncertainty of events and how these affect the partners and activities within the supply chain. Supply chain systems are pervasive with risk, from the growth of global markets, to the uncertainty of supply, to the demand uncertainty, to the threat of terrorism, and even to meteorological uncertainty. While many traditional risk-mitigating activities are used (such as risk pooling with inventory; effective supply chain design; strategic placement of warehouses, products, and contracts; and customer-supplier relationship management), there is a need to examine new ways of mitigating risk in supply chains. A more comprehensive look at and an understanding of these issues and how firms cope with risk mitigation are important. Manuscripts discussing risk assessment and risk-mitigating strategies are pervasive, even over the last year, and have a very broad appeal. In examining this literature, research has been conducted in areas affecting all facets of supply chains. Earls (2008) examines the lessons learned in chemical supply chains by Hurricane Katrina, one of the worst natural disasters in the United States. Others have examined supply chain risk within specific industries, such as Mollin and Figge (2008) in the pharmaceutical industry; Blackhurst, Scheibe, and Johnson (2008) in the automotive industry; and Lodree and Taskin (2008) in the insurance industry, to name a few. Still others have examined risk strategies and the impact to business decisions, such as Khan, Christopher, and Burnes (2008) in examining the effect of product design decisions on supply chain risk; Schmitt (2008) in examining stochastic inventory models to mitigate supply chain disruption risk; and Hua and Li (2008) in examining demand uncertainty and its effect on supply chain cooperation in the retail industry. Finally, much research has been conducted on coordination mechanisms and general strategies for mitigating risk, such as Manuj and Mentzer (2008) in examining several risk management strategies in global supply chains; Choi, Li, Yan, and Chiu (2008) in examining supply chain coordination in an effort to

Supply chain risk management frameworks and models: A review

Supply chain risk management (SCRM) is a relatively new scientific discipline aiming to support management in its everyday struggle against the inherent uncertainty of supply chain operations propagated mostly by demand and supply fluctuations, in terms of yields, capacity, costs and lead times. This paper focuses on a literature review of available SCRM frameworks and models.

Identifying risk issues and research advancements in supply chain risk management

International Journal of Production Economics, 2011

The purpose of this paper is to investigate the research development in supply chain risk management (SCRM), which has shown an increasing global attention in recent years. Literature survey and citation/ co-citation analysis are used to fulfil the research task. Literature survey has undertaken a thorough search of articles on selected journals relevant to supply chain operations management. Meanwhile, citation/co-citation analysis uses Web of Sciences database to disclose SCRM development between 1995 and 2009. Both the approaches show similar trends of rising publications over the past 15 years. This review has piloted us to identify and classify the potential risk associated with different flows, namely material, cash and information flows. Consequently, we identify some research gaps. Even though there is a pressing need and awareness of SCRM from industrial aspect, quantitative models in the field are relatively lacking and information flow risk has received less attention. It is also interesting to observe the evolutions and advancements of SCRM discipline. One finding is that the intellectual structure of the field made statistically significant increase during 2000-2005 and evolved from passively reacting to vague general issues of disruptions towards more proactively managing supply chain risk from system perspectives.

What is Supply Chain Risk Management? A Review

Advanced Science Letters, 2017

The prime objective of Supply chain risk management (SCRM) is to reduce the chances of any uncertain situation and feat an appropriate set of solution to manage the situation efficiently and effectively. SCRM is full of challenges that can result in higher cost, wasted materials and production error. It has become even more complex and vulnerable than in past. Due to absence of commonly recognized definition of SCRM and very scared literature, it is very difficult to clearly understand it. This study has worked on two objectives. First, this study has tried to understand the nature of SCRM by elaborating relevant literature with a novel methodology and to verdict its accurate explanation. Second, compile the diverse and scattered literature so for potential researchers it will be easy to approach it. A comprehensive review shows that study on SCRM is still not only very limited but also much dispersed. This article will elaborate a general literature review on evaluation of definitions of supply chain, risk management and supply chain risk management. This article applies content analysis approach, bibliographic analysis and analyzing top cited journal and researches in SCRM that is a unique and novel methodology. The finding of this study reveals that, majority of the researchers are agreed, risk is variation in outcome or performances that are not predictable, whereas supply chain is a network of organizations that add value in every stage of product or services till its destination toward users. Supply chain risk is probabilistic and unwanted situation whereas supply chain risk management is to manage probabilistic and undesirable situation by evaluating risk sources, analyzing likelihood and present a strategy to avoid, mitigate or minimize the effect of risk sources.

Researchers' Perspectives on Supply Chain Risk Management

Supply chain risk management (SCRM) is a nascent area emerging from a growing appreciation for supply chain risk by practitioners and by researchers. However, there is diverse perception of research in supply chain risk because these researchers have approached this area from different domains. This paper presents our study of this diversity from the perspectives of operations and supply chain management scholars: First, we reviewed the researchers' output, i.e., the recent research literature. Next, we surveyed two focus groups (members of Supply Chain Thought Leaders and International SCRM groups) with open-ended questions. Finally, we surveyed operations and supply chain management researchers during the 2009 INFORMS meeting in San Diego. Our findings characterize the diversity in terms of three ''gaps'': a definition gap in how researchers define SCRM, a process gap in terms of inadequate coverage of response to risk incidents, and a methodology gap in terms of inadequate use of empirical methods. We also list ways to close these gaps as suggested by the researchers.

Supply chain risk management – I: Conceptualization, framework and planning process

Risk management, 2012

Supply chain risk management (SCRM) is an interdisciplinary emerging area of research crossing over operations management, finance and marketing, among other disciplines. Conceptualization of SCRM is argued in reference to previous studies on risk identification, risk assessment, supply chain vulnerabilities and risk management approaches used. A SCRM framework is then developed based on taxonomies defined for risk events and risk management approaches. In line with this framework, a risk management planning process is proposed with an illustrative example.