IDEAS home Printed from https://ideas.repec.org/a/spr/ijsaem/v15y2024i10d10.1007_s13198-024-02507-4.html
   My bibliography  Save this article

Risk assessment in sustainable supply chain: theoretical and managerial implications for circular economy in emerging economies

Author

Listed:
  • R. K. A. Bhalaji

    (Francis Xavier Engineering College)

  • S. Bathrinath

    (Kalasalingam Academy of Research and Education)

  • Syed Mithun Ali

    (Bangladesh University of Engineering and Technology)

  • K. Koppiahraj

    (SIMATS)

Abstract

In recent times, sustainable supply chain (SSC) management has received significant attention from academics and industries. Due to its complex nature, various risk sources are involved in SSCs. Thus, evaluation of risks in SSC becomes critical in enhancing the resilience and efficiency. Accordingly, this paper develops a framework for evaluating the most influential risks in an SSC using multi-criteria decision-making method. Using a data triangulation strategy, the study finalized 20 risks from the list of 25 risks. The finalized risks are evaluated and prioritized using multi-objective optimization ratio analysis technique. The findings show that the environmental supply chain is critical for SSC as it plays a key role in enhancing SSC performance. Based on the outcomes, the study suggests that the industries should prefer closed-loop supply chain practices rather than traditional linear supply chain practices. Also, the industries must incorporate 6R (Rethink, Refuse, Reduce, Reuse, Recycle, Repair) practices in the regular industrial activities. Furthermore, the findings help academics and industrial managers to achieve sustainability and circularity in supply chains.

Suggested Citation

  • R. K. A. Bhalaji & S. Bathrinath & Syed Mithun Ali & K. Koppiahraj, 2024. "Risk assessment in sustainable supply chain: theoretical and managerial implications for circular economy in emerging economies," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(10), pages 4966-4981, October.
    • Handle: RePEc:spr:ijsaem:v:15:y:2024:i:10:d:10.1007_s13198-024-02507-4
    DOI: 10.1007/s13198-024-02507-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13198-024-02507-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13198-024-02507-4?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Qinghua Fu & Abdul Aziz Abdul Rahman & Hui Jiang & Jawad Abbas & Ubaldo Comite, 2022. "Sustainable Supply Chain and Business Performance: The Impact of Strategy, Network Design, Information Systems, and Organizational Structure," Sustainability, MDPI, vol. 14(3), pages 1-15, January.
    2. Marcus V. C. Fagundes & Bernd Hellingrath & Francisco G. M. Freires, 2021. "Supplier Selection Risk: A New Computer-Based Decision-Making System with Fuzzy Extended AHP," Logistics, MDPI, vol. 5(1), pages 1-17, March.
    3. Tönnissen, Stefan & Teuteberg, Frank, 2020. "Analysing the impact of blockchain-technology for operations and supply chain management: An explanatory model drawn from multiple case studies," International Journal of Information Management, Elsevier, vol. 52(C).
    4. 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.
    5. Sirish Kumar Gouda & Haritha Saranga, 2018. "Sustainable supply chains for supply chain sustainability: impact of sustainability efforts on supply chain risk," International Journal of Production Research, Taylor & Francis Journals, vol. 56(17), pages 5820-5835, September.
    6. Giannakis, Mihalis & Papadopoulos, Thanos, 2016. "Supply chain sustainability: A risk management approach," International Journal of Production Economics, Elsevier, vol. 171(P4), pages 455-470.
    7. Qazi, Abroon & Quigley, John & Dickson, Alex & Ekici, Şule Önsel, 2017. "Exploring dependency based probabilistic supply chain risk measures for prioritising interdependent risks and strategies," European Journal of Operational Research, Elsevier, vol. 259(1), pages 189-204.
    8. Caiado, Rodrigo Goyannes Gusmão & Scavarda, Luiz Felipe & Gavião, Luiz Octávio & Ivson, Paulo & Nascimento, Daniel Luiz de Mattos & Garza-Reyes, Jose Arturo, 2021. "A fuzzy rule-based industry 4.0 maturity model for operations and supply chain management," International Journal of Production Economics, Elsevier, vol. 231(C).
    9. Sahitya Elluru & Hardik Gupta & Harpreet Kaur & Surya Prakash Singh, 2019. "Proactive and reactive models for disaster resilient supply chain," Annals of Operations Research, Springer, vol. 283(1), pages 199-224, December.
    10. Ilkka Ritola & Harold Krikke & Marjolein C.J. Caniëls, 2020. "Learning from Returned Products in a Closed Loop Supply Chain: A Systematic Literature Review," Logistics, MDPI, vol. 4(2), pages 1-13, April.
    11. Guneren Genc, Elif & Deniz Basar, Ozlem, 2019. "Comparison of Country Ratings of Credit Rating Agencies with MOORA Method," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 10(2), pages 391-404, April.
    12. Tobias Rebs & Marcus Brandenburg & Stefan Seuring & Margarita Stohler, 2018. "Stakeholder influences and risks in sustainable supply chain management: a comparison of qualitative and quantitative studies," Business Research, Springer;German Academic Association for Business Research, vol. 11(2), pages 197-237, September.
    13. Centobelli, Piera & Cerchione, Roberto & Esposito, Emilio & Passaro, Renato & Shashi,, 2021. "Determinants of the transition towards circular economy in SMEs: A sustainable supply chain management perspective," International Journal of Production Economics, Elsevier, vol. 242(C).
    14. Ehsan Shekarian & Behrang Ijadi & Amirreza Zare & Jukka Majava, 2022. "Sustainable Supply Chain Management: A Comprehensive Systematic Review of Industrial Practices," Sustainability, MDPI, vol. 14(13), pages 1-30, June.
    Full references (including those not matched with items on IDEAS)

    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. Manavalan Ethirajan & Thanigai Arasu M & Jayakrishna Kandasamy & Vimal K.E.K & Simon Peter Nadeem & Anil Kumar, 2021. "Analysing the risks of adopting circular economy initiatives in manufacturing supply chains," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 204-236, January.
    2. Chih-Hung Hsu & Ru-Yue Yu & An-Yuan Chang & Wan-Ling Liu & An-Ching Sun, 2022. "Applying Integrated QFD-MCDM Approach to Strengthen Supply Chain Agility for Mitigating Sustainable Risks," Mathematics, MDPI, vol. 10(4), pages 1-41, February.
    3. 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.
    4. Wen-Kuo Chen & Venkateswarlu Nalluri & Suresh Ma & Mei-Min Lin & Ching-Torng Lin, 2021. "An Exploration of the Critical Risk Factors in Sustainable Telecom Services: An Analysis of Indian Telecom Industries," Sustainability, MDPI, vol. 13(2), pages 1-22, January.
    5. Saeid Alaei & Seyed Hossein Razavi Hajiagha & Hannan Amoozad Mahdiraji & Jose Arturo Garza-Reyes, 2023. "Unveiling the role of sustainable supply chain drivers toward knowledge-based economy via a novel permutation approach: implications from an emerging economy," Operations Management Research, Springer, vol. 16(3), pages 1231-1250, September.
    6. Madhukar Chhimwal & Saurabh Agrawal & Girish Kumar, 2021. "Measuring Circular Supply Chain Risk: A Bayesian Network Methodology," Sustainability, MDPI, vol. 13(15), pages 1-22, July.
    7. Manel Elmsalmi & Wafik Hachicha & Awad M. Aljuaid, 2021. "Prioritization of the Best Sustainable Supply Chain Risk Management Practices Using a Structural Analysis Based-Approach," Sustainability, MDPI, vol. 13(9), pages 1-15, April.
    8. Zhong, Ziqi & Zhao, Elena Yifei, 2024. "Collaborative driving mode of sustainable marketing and supply chain management supported by metaverse technology," LSE Research Online Documents on Economics 121160, London School of Economics and Political Science, LSE Library.
    9. Vu Minh Ngo & Huy Truong Quang & Thinh Gia Hoang & An Duong Thi Binh, 2024. "Sustainability‐related supply chain risks and supply chain performances: The moderating effects of dynamic supply chain management practices," Business Strategy and the Environment, Wiley Blackwell, vol. 33(2), pages 839-857, February.
    10. Marta Negri & Enrico Cagno & Claudia Colicchia & Joseph Sarkis, 2021. "Integrating sustainability and resilience in the supply chain: A systematic literature review and a research agenda," Business Strategy and the Environment, Wiley Blackwell, vol. 30(7), pages 2858-2886, November.
    11. Faghih-Roohi, Shahrzad & Akcay, Alp & Zhang, Yingqian & Shekarian, Ehsan & de Jong, Eelco, 2020. "A group risk assessment approach for the selection of pharmaceutical product shipping lanes," International Journal of Production Economics, Elsevier, vol. 229(C).
    12. Neungho Han & Juneho Um, 2024. "Risk management strategy for supply chain sustainability and resilience capability," Risk Management, Palgrave Macmillan, vol. 26(2), pages 1-26, May.
    13. Mani, Venkatesh & Jabbour, Charbel Jose Chiappetta & Mani, Kavitha T.N., 2020. "Supply chain social sustainability in small and medium manufacturing enterprises and firms’ performance: Empirical evidence from an emerging Asian economy," International Journal of Production Economics, Elsevier, vol. 227(C).
    14. Jochen Wulf, 2020. "Development of an AHP hierarchy for managing omnichannel capabilities: a design science research approach," Business Research, Springer;German Academic Association for Business Research, vol. 13(1), pages 39-68, April.
    15. Ali Zackery & Joseph Amankwah-Amoah & Zahra Heidari Darani & Shiva Ghasemi, 2022. "COVID-19 Research in Business and Management: A Review and Future Research Agenda," Sustainability, MDPI, vol. 14(16), pages 1-32, August.
    16. Shubham Gupta & Raghav Khanna & Pranay Kohli & Sarthak Agnihotri & Umang Soni & M. Asjad, 2023. "Risk evaluation of electric vehicle charging infrastructure using Fuzzy AHP – a case study in India," Operations Management Research, Springer, vol. 16(1), pages 245-258, March.
    17. Sara Al-Haidous & Tareq Al-Ansari, 2019. "Sustainable Liquefied Natural Gas Supply Chain Management: A Review of Quantitative Models," Sustainability, MDPI, vol. 12(1), pages 1-23, December.
    18. Pasura Aungkulanon & Walailak Atthirawong & Pongchanun Luangpaiboon & Wirachchaya Chanpuypetch, 2024. "Navigating Supply Chain Resilience: A Hybrid Approach to Agri-Food Supplier Selection," Mathematics, MDPI, vol. 12(10), pages 1-42, May.
    19. Ma, Hoi-Lam & Wang, Z.X. & Chan, Felix T.S., 2020. "How important are supply chain collaborative factors in supply chain finance? A view of financial service providers in China," International Journal of Production Economics, Elsevier, vol. 219(C), pages 341-346.
    20. Nelly Oelze & Tim Gruchmann & Marcus Brandenburg, 2020. "Motivating Factors for Implementing Apparel Certification Schemes—A Sustainable Supply Chain Management Perspective," Sustainability, MDPI, vol. 12(12), pages 1-15, June.

    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:spr:ijsaem:v:15:y:2024:i:10:d:10.1007_s13198-024-02507-4. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.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.