Supply Chain Risk Management

Supply chain risk management (SCRM) is based on the same methodology as enterprise risk management (ERM). it presents risk management as a process composed of a number of stages (AIRMIC/ALARM/ IRM 2002 COSO 2004 HM Treasury 2004 ISO 31000 2009 Fraser and Simkins 2010, p. 103)  

risk treatment (making a decision on how to influence the risk)  

The first two stages are called risk analysis and the first three, risk assessment. 

Many methods and techniques can be used to assist threat identification and risk analysis (Table 5.1.). They should be selected on the basis of the type of risk analysed. Also, the nature of risk should be taken into accoimt whether it is positive or negative. When assessing risk, information is of high value. The knowledge and expertise of operational and top executive staff are the main source of relevant information. External statistics also play an important role (the central statistical office, the national laboirr inspectorate, the police), as well as historical data on companies. The same applies to any and all regulations and requirements. 

To measure risk, one must calculate the probability of an event (L=likelihood) and determine its possible severity (C=consequences) with respect to defined objectives and values. In the case of pure risk, these parameters may be determined using various data, mainly statistics, e.g. the police or central statistical office data. Such data are used, along with 

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How can substitution requirements be integrated in the internal (quality) management systems of companies and along the supply chain risk manage-menf ) ... 

Fig. 16.3 Chemicals control. Supply chain risk management - two main types of legislation...

Supply Chain Risk Management through HAZOP and Dynamic Simulation... 

Framework and Methodology for Supply Chain Risk Management... 

Supply chain risk management. The combination of structured and unstructured data on suppliers can improve the time to sense a supplier risk. The translation of this data for early warning is a big data supply chain opportunity. 

Risks and vulnerabilities in supply chains are widely acknowledged as a challenge for corporations, see e.g. Manuj Mentzer (2008), Paulsson (2004) andVanany etal. (2009). However, while there are a niunber of proposed conceptual frameworks, few seem to give clear answers to performing supply chain risk management. 

Manuj, Ila John T. Mentzer. 2008. Global Supply Chain Risk Management. Journal of Business Logistics 29(1). 

Nortmann, Andreas Ulf Jansson. 2004. Ericsson s proactive supply chain risk management after a serious sub-supplier accident. International Journal of Physical Distribution Logistics Management 34(5) 434- 56. 

Paulsson. 2004. Supply Chain Risk Management. In Supply Chain Risk, ed. Claire Brindley Ashgate. 

Vanany, Iwan, Suhaiza Zailani Nyoman Pujawan. 2009. Supply Chain Risk Management Literature Review and Future Research. Inti. Journal of Information Systems and Supply Chain Management 2 16—33. 

Juttner, U., Peck, H., Christopher, M. (2003). Supply chain risk management Outlining an agenda for future research.InternationalJournal ofLogistics Research Applications, (5(4), 197. 

Chapter 7 of the textbook is devoted entirely to supply chain risk management. Multi-criteria optimization models that consider profitability, customer responsiveness, and supply chain risk are discussed in this context. 

This chapter presents important problems in supply chain risk management that extend beyond the traditional treatment of supply chain management commonly found in textbooks. We discuss in detail the vulnerability, driven by globalization, of supply chains around the world to a disruptive event in one part of a single country. This chapter presents models and methods to answer the following queshons ... 

We also illustrate through real-world examples the best industry practices in supply chain risk management. 

Handfield, R. B. and K. McCormack. 2008. Supply Chain Risk Management Minimizing Disruptions in Global Sourcing. Boca Raton, FL Auerbach Publications. 

Risk map. (From Elkins, D. et al.. Identifying and assessing supply chain risk, in Supply Chain Risk Management, Handfield, R.B. and McCormack, K.B., eds., Auerback Publishers, Boca Raton, FL, 2008a, Chapter 3.)... 

Best Supply Chain Risk Management Practices in industries... 

In the following subsections, we will present some Markov chain properties required to hold in order to compute the MFPT values, provide formulas to compute the MFPT matrix of a Markov chain and discuss how detectability can be modeled for improving supply chain risk management. 

A good tutorial on planning for disruptions in supply chain networks is given in Snyder et al. (2006). Sodhi et al. (2012) present a survey on the perspectives of the researchers working on supply chain risk management. They found the following ... 

Varied definitions of supply chain risk management among the... 

Survey of Supply Chain Risk Management Literature... 

Atkinson, W. 2003. Supply chain risk management Riding out global challengers. Purchasing. 132(14) 43-46. 

Bilsel, R. U. and A. Ravindran. 2012. Modeling disruption risk in supply chain risk management. International Journal of Operations Research and Information Systems. 3(3) 15-39. 

Elkins, D., R. B. Handfield, J. Blackhurst, and C. W. Craighead. 2008b. A to-do list to improve supply-chain risk management capabilities. In Supply Chain Risk Management, ed. R. B. Handfield and K. B. McCormack, Chapter 4. Boca Raton, FL Auerback Publishers. 

Sodhi, M. S., B. Son, and C. S. Tang. 2012. Researchers perspectives on supply chain risk management. Production and Operations Management. 21(1) 1-13. 

Diabat A., Govindan K., Panicker V.V., 2012, Supply Chain Risk Management and Its Mitigation in a Food Industry, International Journal of Production Research, 50(11), pp. 3039-3050. 

Juttner U., Peck H., Christopher M., 2003, Supply Chain Risk Management OutUning an Agenda for Future Research, International Journal of Logistics Research Sr Application, 6(4), pp. 197-210. 

Tang Ch.S., 2006, Perspectives in Supply Chain Risk Management, International Journal of Production Economics, 103(2), pp. 451-488. 

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