IDEAS home Printed from https://ideas.repec.org/a/wly/transj/v51y2012i4p428-451.html

A Comprehensive Risk Assessment and Evaluation Model: Proposing a Risk Priority Continuum

Author

Listed:
  • Stanley E. Griffis
  • Judith M. Whipple

Abstract

Supply chain risks continue to affect global operations, with no promise of abating in the foreseeable future. While past studies have examined elements of supply chain risk, many have focused on only the likelihood of a risk occurring and/or the impact of the risk. This research outlines a more rigorous risk assessment and evaluation process, one that builds upon the reliability engineering field and includes an additional risk factor, the probability of risk detection. By using the proposed process, managers can create a risk priority continuum, which can lead to the development of better risk mitigation strategies. Given that not all risks are the same, this article provides a tool for assessing and prioritizing risks to enable managers to achieve desired risk prevention levels as well as to offer faster recovery from risks that actually occur.

Suggested Citation

  • Stanley E. Griffis & Judith M. Whipple, 2012. "A Comprehensive Risk Assessment and Evaluation Model: Proposing a Risk Priority Continuum," Transportation Journal, John Wiley & Sons, vol. 51(4), pages 428-451, October.
    • Handle: RePEc:wly:transj:v:51:y:2012:i:4:p:428-451
    DOI: 10.5325/transportationj.51.4.0428
    as

    Download full text from publisher

    File URL: https://doi.org/10.5325/transportationj.51.4.0428
    Download Restriction: no
    File URL: https://libkey.io/10.5325/transportationj.51.4.0428?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
    ---><---

    References listed on IDEAS

    as
    1. M. Douglas Voss & Judith M. Whipple & David J. Closs, 2009. "The Role of Strategic Security: Internal and External Security Measures with Security Performance Implications," Transportation Journal, John Wiley & Sons, vol. 48(2), pages 5-23, March.
    2. Pao-Tiao Chuang, 2007. "Combining Service Blueprint and FMEA for Service Design," The Service Industries Journal, Taylor & Francis Journals, vol. 27(2), pages 91-104, March.
    3. Sameer Kumar & Janis Verruso, 2008. "Risk Assessment for the Security of Inbound Containers at U.S. Ports: A Failure, Mode, Effects, and Criticality Analysis Approach," Transportation Journal, John Wiley & Sons, vol. 47(4), pages 26-41, September.
    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.
    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. Anupam Kumar & Adams Steven & Laharish Guntuka, 2025. "Recall Campaign Timing: The Impact on Sales and Stock Market Performance," Transportation Journal, John Wiley & Sons, vol. 64(2), April.
    2. Tatevik Avetisyan Artoonian & R. Brent Ross & Robert S. Shupp, 2025. "Identification and assessment of supply chain risks: The case of food hubs," Agribusiness, John Wiley & Sons, Ltd., vol. 41(1), pages 84-105, January.
    3. Lila Al‐Shwaf & John E. Bell, 2025. "Raw Material Supply Risks: Examining Extraction and Geopolitical Conflict," Transportation Journal, John Wiley & Sons, vol. 64(2), April.
    4. David Swanson & Yoshinori Suzuki, 2020. "COVID‐19 Carves New Facets of Supply Chain Disruption," Transportation Journal, John Wiley & Sons, vol. 59(4), pages 325-334, November.

    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. Jiao Wang & Lima Zhao & Arnd Huchzermeier, 2021. "Operations‐Finance Interface in Risk Management: Research Evolution and Opportunities," Production and Operations Management, Production and Operations Management Society, vol. 30(2), pages 355-389, February.
    2. Kordi, Mehrdad & Ertz, Myriam, 2026. "Deciphering technological advancements for efficient disaster management and community resilience," Technology in Society, Elsevier, vol. 84(C).
    3. Desbordes, Rodolphe, 2007. "The sensitivity of U.S. multinational enterprises to political and macroeconomic uncertainty: A sectoral analysis," International Business Review, Elsevier, vol. 16(6), pages 732-750, December.
    4. Anthony Goerzen & Stephen Sapp & Andrew Delios, 2010. "Investor Response to Environmental Risk in Foreign Direct Investment," Management International Review, Springer, vol. 50(6), pages 683-708, December.
    5. Guoliang Frank Jiang & Roberto Ragozzino, 2025. "International Corporate Development Activities and Information Disclosures in Earnings Calls," Management International Review, Springer, vol. 65(2), pages 175-206, April.
    6. Ahmed, Zafar U. & Mohamad, Osman & Tan, Brian & Johnson, James P., 2002. "International risk perceptions and mode of entry: a case study of Malaysian multinational firms," Journal of Business Research, Elsevier, vol. 55(10), pages 805-813, October.
    7. Alday, Sandra Seno, 2022. "Regional integration and the regional risk paradox," European Management Journal, Elsevier, vol. 40(5), pages 793-808.
    8. Marcela Tuzová & Martina Toulová & Lea Kubíčková, 2017. "The Specifics of the Internationalization Process of Czech SMEs in the Food Industry," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(3), pages 1055-1064.
    9. Lai Fong Woon & Noor Azlinna Azizan & M. Fazilah Abdul Samad, 2011. "A Strategic Framework For Value Enhancing Enterprise Risk Management," Journal of Global Business and Economics, Global Research Agency, vol. 2(1), pages 23-47, January.
    10. Georges Dionne, 2013. "Risk Management: History, Definition, and Critique," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 16(2), pages 147-166, September.
    11. Iavor Marangozov, 2005. "From Practice to Theory of the International Joint Ventures," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 44-77.
    12. Müllner, Jakob, 2016. "From uncertainty to risk—A risk management framework for market entry," Journal of World Business, Elsevier, vol. 51(5), pages 800-814.
    13. Daniel R Clark & Dan Li & Dean A Shepherd, 2018. "Country familiarity in the initial stage of foreign market selection," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(4), pages 442-472, May.
    14. Lindner, Thomas & Muellner, Jakob & Puck, Jonas, 2016. "Cost of Capital in an International Context: Institutional Distance, Quality, and Dynamics," Journal of International Management, Elsevier, vol. 22(3), pages 234-248.
    15. Lijing Shang & Saiful Aman & Abdulkhabir Rahmat, 2025. "An Evaluation to the Global Supply Chain Security Evidence from China’s High-End Manufacturing Sector," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(1), pages 2204-2221, January.
    16. Demirbag, Mehmet & McGuinness, Martina & Akin, Ahmet & Bayyurt, Nizamettin & Basti, Eyup, 2016. "The professional service firm (PSF) in a globalised economy: A study of the efficiency of securities firms in an emerging market," International Business Review, Elsevier, vol. 25(5), pages 1089-1102.
    17. Cuypers, I.R.P., 2009. "Essays on equity joint ventures, uncertainty and experience," Other publications TiSEM 8dc79e86-c625-467f-a450-8, Tilburg University, School of Economics and Management.
    18. Ralf Meinhardt & Sebastian Junge & Martin Weiss, 2018. "The organizational environment with its measures, antecedents, and consequences: a review and research agenda," Management Review Quarterly, Springer, vol. 68(2), pages 195-235, April.
    19. Runhui Lin & Yuan Gui & Zaiyang Xie & Lu Liu, 2019. "Green Governance and International Business Strategies of Emerging Economies’ Multinational Enterprises: A Multiple-Case Study of Chinese Firms in Pollution-Intensive Industries," Sustainability, MDPI, vol. 11(4), pages 1-32, February.
    20. Jean, Ruey-Jer “Bryan” & Kim, Daekwan & Cavusgil, Erin, 2020. "Antecedents and outcomes of digital platform risk for international new ventures’ internationalization," Journal of World Business, Elsevier, vol. 55(1).

    More about this item

    Statistics

    Access and download statistics

    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:wly:transj:v:51:y:2012:i:4:p:428-451. 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: Wiley Content Delivery (email available below). General contact details of provider: .

    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.