IDEAS home Printed from https://ideas.repec.org/a/gam/jrisks/v9y2021i1p16-d475712.html
   My bibliography  Save this article

Supply Chain Risk Management: Literature Review

Author

Listed:
  • Amulya Gurtu

    (Austin E. Cofrin School of Business, University of Wisconsin-Green Bay, Green Bay, WI 54311, USA)

  • Jestin Johny

    (Department of Humanities and Social Science, BITS Pilani, K. K. Birla Goa Campus, Goa 403726, India)

Abstract

The risks associated with global supply chain management has created a discourse among practitioners and academics. This is evident by the business uncertainties growing in supply chain management, which pose threats to the entire network flow and economy. This paper aims to review the existing literature on risk factors in supply chain management in an uncertain and competitive business environment. Papers that contained the word “risk” in their titles, keywords, or abstracts were selected for conducting the theoretical analyses. Supply chain risk management is an integral function of the supply network. It faces unpredictable challenges due to nations’ economic policies and globalization, which have raised uncertainty and challenges for supply chain organizations. These significantly affect the financial performance of the organizations and the economy of a nation. Debate on supply chain risk management may promote competitiveness in business. Risk mitigation strategies will reduce the impact caused due to natural and human-made disasters.

Suggested Citation

  • Amulya Gurtu & Jestin Johny, 2021. "Supply Chain Risk Management: Literature Review," Risks, MDPI, vol. 9(1), pages 1-16, January.
    • Handle: RePEc:gam:jrisks:v:9:y:2021:i:1:p:16-:d:475712
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-9091/9/1/16/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-9091/9/1/16/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. ManMohan S. Sodhi & Christopher S. Tang, 2012. "Supply Chain Risk Management," International Series in Operations Research & Management Science, in: Managing Supply Chain Risk, edition 127, chapter 0, pages 3-11, Springer.
    2. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    3. Garvey, Myles D. & Carnovale, Steven & Yeniyurt, Sengun, 2015. "An analytical framework for supply network risk propagation: A Bayesian network approach," European Journal of Operational Research, Elsevier, vol. 243(2), pages 618-627.
    4. Kent D Miller, 1992. "A Framework for Integrated Risk Management in International Business," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 23(2), pages 311-331, June.
    5. Wilson, Martha C., 2007. "The impact of transportation disruptions on supply chain performance," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(4), pages 295-320, July.
    6. Goh, Mark & Lim, Joseph Y.S. & Meng, Fanwen, 2007. "A stochastic model for risk management in global supply chain networks," European Journal of Operational Research, Elsevier, vol. 182(1), pages 164-173, October.
    7. Tang, Ou & Nurmaya Musa, S., 2011. "Identifying risk issues and research advancements in supply chain risk management," International Journal of Production Economics, Elsevier, vol. 133(1), pages 25-34, September.
    8. Wafik Hachicha & Manel Elmsalmi, 2014. "An integrated approach based-structural modeling for risk prioritization in supply network management," Journal of Risk Research, Taylor & Francis Journals, vol. 17(10), pages 1301-1324, November.
    9. Mingers, John & White, Leroy, 2010. "A review of the recent contribution of systems thinking to operational research and management science," European Journal of Operational Research, Elsevier, vol. 207(3), pages 1147-1161, December.
    10. Yossi Sheffi, 2005. "The Resilient Enterprise: Overcoming Vulnerability for Competitive Advantage," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262693496, December.
    11. Lee, Hau L. & Whang, Seungjin, 2005. "Higher supply chain security with lower cost: Lessons from total quality management," International Journal of Production Economics, Elsevier, vol. 96(3), pages 289-300, June.
    12. Anna Corinna Cagliano & Alberto De Marco & Sabrina Grimaldi & Carlo Rafele, 2012. "An integrated approach to supply chain risk analysis," Journal of Risk Research, Taylor & Francis Journals, vol. 15(7), pages 817-840, August.
    13. Chiara Verbano & Karen Venturini, 2011. "Development paths of risk management: approaches, methods and fields of application," Journal of Risk Research, Taylor & Francis Journals, vol. 14(5), pages 519-550, May.
    14. Asoke Dey & Paul LaGuardia & Mahesh Srinivasan, 2011. "Building sustainability in logistics operations: a research agenda," Management Research Review, Emerald Group Publishing Limited, vol. 34(11), pages 1237-1259, October.
    15. Vahid Nooraie, S. & Parast, Mahour Mellat, 2016. "Mitigating supply chain disruptions through the assessment of trade-offs among risks, costs and investments in capabilities," International Journal of Production Economics, Elsevier, vol. 171(P1), pages 8-21.
    16. Wu, Ing-Long & Chuang, Cheng-Hung & Hsu, Chien-Hua, 2014. "Information sharing and collaborative behaviors in enabling supply chain performance: A social exchange perspective," International Journal of Production Economics, Elsevier, vol. 148(C), pages 122-132.
    17. (Noel) Bryson, Kweku-Muata & Millar, Harvey & Joseph, Anito & Mobolurin, Ayodele, 2002. "Using formal MS/OR modeling to support disaster recovery planning," European Journal of Operational Research, Elsevier, vol. 141(3), pages 679-688, September.
    18. Iwan Vanany & Suhaiza Zailani & Nyoman Pujawan, 2009. "Supply Chain Risk Management: Literature Review and Future Research," International Journal of Information Systems and Supply Chain Management (IJISSCM), IGI Global, vol. 2(1), pages 16-33, January.
    19. Jeffrey H. Dyer & Kentaro Nobeoka, 2000. "Creating and managing a high‐performance knowledge‐sharing network: the Toyota case," Strategic Management Journal, Wiley Blackwell, vol. 21(3), pages 345-367, March.
    20. Bogataj, David & Bogataj, Marija, 2007. "Measuring the supply chain risk and vulnerability in frequency space," International Journal of Production Economics, Elsevier, vol. 108(1-2), pages 291-301, July.
    21. David B. Jemison, 1987. "Risk and the Relationship Among Strategy, Organizational Processes, and Performance," Management Science, INFORMS, vol. 33(9), pages 1087-1101, September.
    22. B Ritchie & C Brindley, 2007. "An emergent framework for supply chain risk management and performance measurement," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 58(11), pages 1398-1411, November.
    23. M S Sodhi & S Lee, 2007. "An analysis of sources of risk in the consumer electronics industry," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 58(11), pages 1430-1439, November.
    24. Bates, Hilary & Holweg, Matthias & Lewis, Michael & Oliver, Nick, 2007. "Motor vehicle recalls: Trends, patterns and emerging issues," Omega, Elsevier, vol. 35(2), pages 202-210, April.
    25. Olivier Lavastre & A. Gunasekaran & Alain Spalanzani, 2012. "Supply chain risk management in french companies," Post-Print halshs-00740450, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. S. M. Misbauddin & Mohammad Jahangir Alam & Chitra Lekha Karmaker & Md. Noor Un Nabi & Md. Mahedi Hasan, 2023. "Exploring the Antecedents of Supply Chain Viability in a Pandemic Context: An Empirical Study on the Commercial Flower Supply Chain of an Emerging Economy," Sustainability, MDPI, vol. 15(3), pages 1-19, January.
    2. Mahmoud Z. Mistarihi & Ghazi M. Magableh, 2023. "Unveiling Supply Chain Nervousness: A Strategic Framework for Disruption Management under Fuzzy Environment," Sustainability, MDPI, vol. 15(14), pages 1-26, July.
    3. Ocampo, Lanndon & Aro, Joerabell Lourdes & Evangelista, Samantha Shane & Maturan, Fatima & Atibing, Nadine May & Yamagishi, Kafferine & Selerio, Egberto, 2023. "Synthesis of strategies in post-COVID-19 public sector supply chains under an intuitionistic fuzzy environment," Socio-Economic Planning Sciences, Elsevier, vol. 85(C).
    4. Katarzyna Mormul, 2021. "Risk Management in the Management Control System in Polish Local Government Units—Assumptions and Practice," Risks, MDPI, vol. 9(5), pages 1-14, May.
    5. Ivan Derpich & Juan M. Sepúlveda & Rodrigo Barraza & Fernanda Castro, 2022. "Warehouse Optimization: Energy Efficient Layout and Design," Mathematics, MDPI, vol. 10(10), pages 1-17, May.
    6. Fahim ul Amin & Qingkai Ji & María del Carmen Valls Martínez & Qian-Li Dong & Shamsa Kanwal & Iram Zulfiqar, 2023. "The Moderating Effect of Customer Relationship on Supply Chain Risk Management and Organization Performance in Logistics Sector of Pakistan," SAGE Open, , vol. 13(1), pages 21582440231, March.
    7. Nam Yi Yun & M. Ali Ülkü, 2023. "Sustainable Supply Chain Risk Management in a Climate-Changed World: Review of Extant Literature, Trend Analysis, and Guiding Framework for Future Research," Sustainability, MDPI, vol. 15(17), pages 1-32, September.
    8. Shekhar & Debadyuti Das, 2023. "Enablers of ‘Creating Shared Value’: A Total Interpretive Structural Modeling–Polarity Approach," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(2), pages 291-318, June.
    9. Basim Aljabhan & Muath A. Obaidat, 2023. "Privacy-Preserving Blockchain Framework for Supply Chain Management: Perceptive Craving Game Search Optimization (PCGSO)," Sustainability, MDPI, vol. 15(8), pages 1-23, April.
    10. Eglantina Hysa & Erinda Imeraj & Nerajda Feruni & Mirela Panait & Valentina Vasile, 2022. "COVID-19—A Black Swan for Foreign Direct Investment: Evidence from European Countries," JRFM, MDPI, vol. 15(4), pages 1-21, March.
    11. Koppiahraj Karuppiah & Bathrinath Sankaranarayanan & Syed Mithun Ali, 2022. "Modeling Impacts of COVID-19 in Supply Chain Activities: A Grey-DEMATEL Approach," Sustainability, MDPI, vol. 14(21), pages 1-21, October.
    12. Pei Fun Lee & Weng Siew Lam & Weng Hoe Lam, 2023. "Performance Evaluation of the Efficiency of Logistics Companies with Data Envelopment Analysis Model," Mathematics, MDPI, vol. 11(3), pages 1-15, January.
    13. Maria Richert & Marek Dudek, 2023. "Risk Mapping: Ranking and Analysis of Selected, Key Risk in Supply Chains," JRFM, MDPI, vol. 16(2), pages 1-30, January.
    14. Manel Elmsalmi & Wafik Hachicha & Awad M. Aljuaid, 2021. "Modeling Sustainable Risks Mitigation Strategies Using a Morphological Analysis-Based Approach: A Real Case Study," Sustainability, MDPI, vol. 13(21), pages 1-17, November.
    15. Xin Yun & Yanyi Ye & Hao Liu & Yi Li & Kin-Keung Lai, 2023. "Stylized Model of Lévy Process in Risk Estimation," Mathematics, MDPI, vol. 11(6), pages 1-14, March.
    16. Herbon, Avi & Tsadikovich, Dmitry, 2023. "An efficient entropy-based stopping rule for mitigating risk factors in supply nets," International Journal of Production Economics, Elsevier, vol. 260(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Venkatesh, V.G. & Rathi, Snehal & Patwa, Sriyans, 2015. "Analysis on supply chain risks in Indian apparel retail chains and proposal of risk prioritization model using Interpretive structural modeling," Journal of Retailing and Consumer Services, Elsevier, vol. 26(C), pages 153-167.
    2. Bendul, Julia C. & Skorna, Alexander C.H., 2016. "Exploring impact factors of shippers’ risk prevention activities: A European survey in transportation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 90(C), pages 206-223.
    3. Seyyed Mohammad Seyyed Alizadeh Ganji & Mohammad Hayati, 2016. "Identifying and Assessing the Risks in the Supply Chain," Modern Applied Science, Canadian Center of Science and Education, vol. 10(6), pages 1-74, June.
    4. Qazi, Abroon & Dickson, Alex & Quigley, John & Gaudenzi, Barbara, 2018. "Supply chain risk network management: A Bayesian belief network and expected utility based approach for managing supply chain risks," International Journal of Production Economics, Elsevier, vol. 196(C), pages 24-42.
    5. Hatem Elleuch & Wafik Hachicha & Habib Chabchoub, 2014. "A combined approach for supply chain risk management: description and application to a real hospital pharmaceutical case study," Journal of Risk Research, Taylor & Francis Journals, vol. 17(5), pages 641-663, May.
    6. Nishat Alam Choudhary & Shalabh Singh & Tobias Schoenherr & M. Ramkumar, 2023. "Risk assessment in supply chains: a state-of-the-art review of methodologies and their applications," Annals of Operations Research, Springer, vol. 322(2), pages 565-607, March.
    7. Scott DuHadway & Steven Carnovale & Benjamin Hazen, 2019. "Understanding risk management for intentional supply chain disruptions: risk detection, risk mitigation, and risk recovery," Annals of Operations Research, Springer, vol. 283(1), pages 179-198, December.
    8. Anasse Amarouche & Philippe Chapellier & Alain George, 2018. "La gestion des risques dans une chaîne d’approvisionnement [La gestion des risques dans une chaine d'approvisionnement : Le cas de la filière d'approvisionnement en fruits et légumes d'une entrepri," Post-Print hal-02101506, HAL.
    9. Setene, Letlama & Jordaan, Daniel du P.S., 2021. "The trade-off between chain performance and fragility considering coordination strategies of agri-food chains: a South African egg chain's case study," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 24(3), March.
    10. Heckmann, Iris & Comes, Tina & Nickel, Stefan, 2015. "A critical review on supply chain risk – Definition, measure and modeling," Omega, Elsevier, vol. 52(C), pages 119-132.
    11. Chen, Li-Ming & Chang, Wei-Lun, 2021. "Supply- and cyber-related disruptions in cloud supply chain firms: Determining the best recovery speeds," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 151(C).
    12. Soumyatanu Mukherjee & Sidhartha S. Padhi, 2022. "Sourcing decision under interconnected risks: an application of mean–variance preferences approach," Annals of Operations Research, Springer, vol. 313(2), pages 1243-1268, June.
    13. Jajja, Muhammad Shakeel Sadiq & Chatha, Kamran Ali & Farooq, Sami, 2018. "Impact of supply chain risk on agility performance: Mediating role of supply chain integration," International Journal of Production Economics, Elsevier, vol. 205(C), pages 118-138.
    14. Li, Gang & Fan, Huan & Lee, Peter K.C. & Cheng, T.C.E., 2015. "Joint supply chain risk management: An agency and collaboration perspective," International Journal of Production Economics, Elsevier, vol. 164(C), pages 83-94.
    15. Shafiee, Mohammad & Zare-Mehrjerdi, Yahia & Govindan, Kannan & Dastgoshade, Sohaib, 2022. "A causality analysis of risks to perishable product supply chain networks during the COVID-19 outbreak era: An extended DEMATEL method under Pythagorean fuzzy environment," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 163(C).
    16. El Baz, Jamal & Ruel, Salomée, 2021. "Can supply chain risk management practices mitigate the disruption impacts on supply chains’ resilience and robustness? Evidence from an empirical survey in a COVID-19 outbreak era," International Journal of Production Economics, Elsevier, vol. 233(C).
    17. André Luiz Romano & Luís Miguel D. F. Ferreira & Sandra Sofia F. S. Caeiro, 2021. "Modelling Sustainability Risk in the Brazilian Cosmetics Industry," Sustainability, MDPI, vol. 13(24), pages 1-26, December.
    18. Hannes Hofmann & Christian Busse & Christoph Bode & Michael Henke, 2014. "Sustainability‐Related Supply Chain Risks: Conceptualization and Management," Business Strategy and the Environment, Wiley Blackwell, vol. 23(3), pages 160-172, March.
    19. Qazi, Abroon & Quigley, John & Dickson, Alex & Gaudenzi, Barbara & Önsel, Şule, 2015. "Selection of Optimal Redundancy Strategies for a Supply Network," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Kersten, Wolfgang & Blecker, Thorsten & Ringle, Christian M. (ed.), Innovations and Strategies for Logistics and Supply Chains: Technologies, Business Models and Risk Management. Proceedings of the Hamburg Internationa, volume 20, pages 419-450, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
    20. Gholami-Zanjani, Seyed Mohammad & Klibi, Walid & Jabalameli, Mohammad Saeed & Pishvaee, Mir Saman, 2021. "The design of resilient food supply chain networks prone to epidemic disruptions," International Journal of Production Economics, Elsevier, vol. 233(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jrisks:v:9:y:2021:i:1:p:16-:d:475712. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.