Understanding Supply Chain Risk Management: An In-Depth Analysis

Understanding Supply Chain Risk Management: An In-Depth Analysis

Sumeet Gupta (Shri Shankaracharya Institute of Technology and Management, India), Fanwen Meng (National University of Singapore, Singapore), Mark Goh (The Logistics Institute – Asia Pacific, Singapore) and Robert De Souza (The Logistics Institute – Asia Pacific, Singapore)
DOI: 10.4018/978-1-4666-0065-2.ch016
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Abstract

Increasing globalization of the supply chains is making them increasingly vulnerable to various supply chain risks. Effective management of these risks is essential to prevent minor as well as major risks that may occur in day-to-day operations of the firm. In this chapter, an attempt is made to bring out a schema for analyzing supply chain risks faced by the firm and develop a risk management action framework that would serve as a guide for practitioners to identify the level at which they are operating and the strategies they need to employ to combat or prevent supply chain risks. The data is collected by means of an online as well as an event survey from logistics managers of various supply chain firms. Indeed Singaporean firms need to properly document these supply chain risks. Moreover, there are gaps in specific areas where Singaporean firms can improve themselves and thus become globally effective corporations.

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