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Comparative Analysis to Minimize the Various Risk Factors in SCM

Shishir Patel1 , Shahzad Ahmad1, and Praveen K Yadav2
1.Al-Falah School of Engineering & Technology, Dhouj, Haryana
2.Indian Institute of Technology&Management, Bilhapur, Kanpur - 209 202.

Abstract—The challenge to business organizations today is to mitigate that risk through creating more resilient supply chains. The motives behind organizations turning towards risk management approaches being the global competition, change in technology, and the continuous contention for competitive advantage. A simple approach for viewing supply chain risk management focuses on two fundamental aspects are probability of event actually occurring, impact of the event on supply chain and subsequently overall business. In this research the AHP concepts in manufacturing supply chain should be studied with perfection which is the need of the hour as manufacturing supply chain is becoming less vertically integrated and the manufacturer is focusing on its core competency. Therefore, a structured, simple and efficient proposed decision framework is proposed and has the ability to show the direction to determine the degree of impact level of each CRF. The degree of impact level of each CRF of the firm will give idea for optimally allocating the efforts to gain maximum benefit. This Research thus attempts to identify risk factors pertaining to supply chain management in context to Indian manufacturing organizations. A case situation is elucidated in order to reinforce the salient features of the proposed framework. The results indicate that the industrial risk and then product risk have got the highest impact on successful implementation of SC. In this, we present and explain concepts, insights, practical tools, and decision support systems important for the effective management of the supply chain

Index Terms—Management, Risk, Certainty, Decision, Organization

Cite: Shishir Patel, Shahzad Ahmad and Praveen K Yadav, "Comparative Analysis to Minimize the Various Risk Factors in SCM," International Journal of Mechanical Engineering and Robotics Research, Vol. 3, No. 3, pp. 777-791, July 2014.