Uta Jüttner, (2005),"Supply chain risk management",
The International Journal of Logistics Management, Vol. 16 Iss 1 pp. 120 - 141. “Supply chain risk management is the process of identifying, assessing and controlling threats to an organization 's capital and earnings that are caused by the organization 's Supply Chain. Companies with supply chain risk management plans in place typically place a chief risk office(CRO) in charge of overseeing the effectiveness of the organization 's supply chain management strategy. An effective plan reduces supply chain risk whenever possible and anticipates how the organization could swiftly respond to supply chain disruptions.
Supply chain risk management plans should address the many different
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The issues of Supply chain risk management are derived and structured along three conceptual levels of “philosophy”,” principles” and “processes”.
The methodology used in the paper is rather still on its conceptual level. The assumptions made in the paper are based on the research that was followed by statistical review of 8 companies that they researched to actualize their assumptions. The paper will be critically evaluated on the basis of methodology, research methods, findings and analysis and the data used to statistically prove the findings.
This is a perspective based journal article which revolves around the understanding of business requirements. The journal article basically formulates the research with mixed method research, which means the author has used both qualitative and quantitative research methods to conclude its findings. The findings show a survey to back the assumptions of the author, but still the concept is in vague understanding leaving the researcher difficult to analyze. The paper has an integrated approach to SCRM which could still create research and have further findings on this vast topic.
“Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.” The literature review used in this paper is focused on supply chain management and risk management though the business side of the
Today’s global supply chain has been shaped by the past decades of focus and strategies based on achieving the lowest operational costs coupled with a push towards market expansion and supplier outsourcing. The expansion of global supply chains combined with the increasing number of joined connections to external business partners has significantly raised the possibility for supply chain disruptions (Poirier, Quinn, & Swink, 2010). In today’s global business environment, the importance of risk management continues to grow daily.
Supply-chain management consists of developing a strategy to organize, control, and motivate the resources involved in the flow of services and materials within the supply chain. A supply chain strategy, an essential aspect of supply chain management, seeks to design a firm’s supply chain to meet the competitive priorities of the firm’s operations strategy.
Supply chain management is a practice that involves the planning, supervision, and implementation of strategies and controls to direct the movement of goods and services provided to customers. The intent of this essay is to incorporate a synopsis of existing literature and to provide the reader with a general understanding of how supply chain management correlates with the organizational design and structure of modern firms. The essay comprehensively reviews the components of supply chain management and their integration with functional areas within an organization. The information presented in this essay
A Customized Textbook, Supply Chain Management SCHM2301, ISBN9781308037400 Copies are on reserve in the library
IBM, (2008). Supply Chain Risk Management: Management A Delicate Balancing Act - IBM Global Business Services A multi-faceted view on managing risk in a global
Business researchers utilize various forms of approaches to analyze and obtain information and data, and two of the most popular approaches used are the qualitative research approach and quantitative research approach. Each approach can be beneficial or in some cases may cause inconclusive results depending on the type of research being conducted and what the nature of the study is. The following will assess two different peer reviewed articles: one which uses a qualitative approach and the other a quantitative approach. It
Risk and Consequence: Tales from the Industry Supply Chain Risk Categories Disruptive Events, Uncertainty and Impact Models and Methods for Supply Chain Risk Management Example of Risk Management for IBM’s Product Supply Chains An Approach for Measuring the Impact of Identified Supply Chain Risks Key Lessons from IBM’s Supply Chain Risk Management Approach The Landscape: Supply Chain Risk Management Supply Chain Risk Management: Getting Started In Summary Authors Footnotes
In a global supply chain for example, risk management entails accounting and bridging cultural, language, organizational values and behaviors differences. As opposed to capital markets, a supply chain tends to be less dynamic and complex (Lindquist, 2012).
Forming a risk management plan to ensure the disruptions of the supply chain are minimized and the negative affect of grounded flights are limited. Identifying possible risks, analyzing risks, identifying risk triggers, forming risk resolution ideas, formulating an action plan, and assigning responsibility are the processes for forming a risk management plan (Dcosta, 2014). Supply chain risk management empower organizations to ease the harmful effects of continent-wide disruption to air travel. Contingency planning around air travel interferences
Supply chain management (SCM) is the supervision of materials, information, and finances as they move in a process from supplier to manufacturer to retailer to the cessation consumer. There are three crucial flows of the supply chain: The product flow, the information flow and the finances flow. SCM involves coordinating and integrating these flows both inside and between
The aim of this paper is to describe and analyse the supply risk management in the field of strategic purchasing.
Mitigating risks play a huge part in the supply chain strategy. Procedures put into place should not just be looked at as a cost, but as a savings. The bottom line is directly affected when damage, theft, and legal issues occur. Risk and uncertainty can be used interchangeably. “Supply chain uncertainty and risk is defined as the impacts, consequences, unexpected events and/or errors (e.g. delays, damages and loss) that may harm the logistics operations in this study” (Wang, Ji, & Abareshi, 2015. P. 489). The first task is to ensure proper insurance on the facilities and merchandise located within the warehouse, and any other equipment owned by the company. A key strategy is to shift liability onto another party like an insurance
Supply Chain Management is defined as the oversight of materials, information, and finances as they move in a course of action from supplier to manufacturer to wholesaler to retailer to consumer. It includes numerous activities such as coordinating and integrating these flows both within and amid companies. By directing the supply chain, companies are able to cut excess fat and provide products faster. This is done by keeping tighter control of internal inventories, internal production, distribution, sales and the inventories of the company 's product purchasers, therefore completing the objective in a Supply Chain Management system by decreasing inventory. However there are risks taken by companies as the globalization of their supply chain is paired with concerns about the quality of products that are made in other countries may not meet regulatory standards, therefore puts their products in jeopardy of being recalled. This means that supply chain managers are responsible for ensuring suppliers and their products maintain safety and quality standards. Recalls or safety issues can damage a company’s reputation.
Supply chain risk comes from what you do not understand and underestimate. When you have foresight of what could happen you are able to develop plans to mitigate the effects. What Simchi-Levi, Schmidt and Wei have outlined is a way to have improved foresight. What they have stated is that most supply chains presume that the greatest risk is from whom they spend the most money. The mathematical model that they have developed indicates that this is not always true.
Chapter 3: Research Methodology Research methodology is the process used to collect information and data for the purpose of making business decisions. Primary Research, Justification and Biases Primary research is the experiments, investigations, or tests carried out to acquire data first-hand, rather than being gathered from published sources. However primary research is costly, time consuming, sometimes the feed backs are inaccurate and the number of resources are required The methodology may include publication research, interviews, surveys and other research techniques, and could include both present and historical information. I will apply primary research because it addresses targeted issues. Data interpretation is also better.