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Risk Management in Global Supply Chains

Author

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  • Dobroslav Mollov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

Modern global supply chains operate in com­plex and dynamic international environment. They are exposed to a variety of factors giving rise to a number of risks for them. In the last two de­cades we have witnessed a significant increase in risk events causing damage to the global supply chains of many companies: natural disasters, ter­rorist attacks, military conflicts, economic crises, cyber-attacks, spreading computer viruses and others. This raises the need for effective risk man­agement in global supply chains as an essential condition for their long-term success. The article presents the essence of risk management in glob­al supply chains. Discussed are the main types of risks inherent in these chains. Provided is a pro­cess-oriented approach for risk management. Dis­cussed are the elements of a resilient supply chain and the strategies for risk mitigation. The article argues that effective risk management in today’s global supply chains requires a rethinking of tra­ditional methods and strategies and seeking new approaches to risk management in these chains.

Suggested Citation

  • Dobroslav Mollov, 2016. "Risk Management in Global Supply Chains," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 88-99, November.
    • Handle: RePEc:nwe:iisabg:y:2016:i:4:p:88-99
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    More about this item

    Keywords

    global supply chains; resilient supply chains; risk; global risks; risk management;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration

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