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Supply-chain risk management is aimed at managing risks in complex and dynamic supply and demand networks. [1] (cf. Wieland/Wallenburg, 2011)Supply chain risk management (SCRM) is "the implementation of strategies to manage both everyday and exceptional risks along the supply chain based on continuous risk assessment with the objective of reducing vulnerability and ensuring continuity".
The complexity and globally outsourced nature of modern supply chains, combined with the practice of optimization techniques such as lean and just-in-time manufacturing in order to improve efficiency, has increased supply chain vulnerabilities to even minor supply disruptions.
[14]: 2 Supply chain management was then further defined as the integration of supply chain activities through improved supply chain relationships to achieve a competitive advantage. [12] In the late 1990s, "supply chain management" (SCM) rose to prominence, and operations managers began to use it in their titles with increasing regularity.
Risk pooling is an important concept in supply chain management. [2] Risk pooling suggests that demand variability is reduced if one aggregates demand across locations because as demand is aggregated across different locations, it becomes more likely that high demand from one customer will be offset by low demand from another.
Digital supply chain security; Supply chain diplomacy; Supply chain diversification; Supply chain finance; Supply chain management; Supply Chain Management (journal) Supply Chain Management Review; Supply chain network; Supply chain operations reference; Supply chain optimization; Supply chain resilience; Supply chain risk management; Supply ...
Operating and managing a global supply chain comes with several risks. These risks can be divided into two main categories: supply-side risk and demand side risk. [4] Supply-side risk is a category that includes risks accompanied by the availability of raw materials which effects the ability of the company to satisfy customer demands. [4]
Enable – Processes being associated with the management of the supply chain. These processes include management of business rules, performance, data, resources, facilities, contracts, supply chain network management, managing regulatory compliance, and risk management. The process is implemented in Version 11.0, released in December 2012.
Human factors influencing the behavior in supply chains are largely unexplored. However, studies suggest that people with increased need for safety and security seem to perform worse than risk-takers in a simulated supply chain environment. People with high self-efficacy experience less trouble handling the bullwhip-effect in the supply chain. [10]