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Risk Issues

In: International Operations Management: Concepts and Applications

Author

Listed:
  • Chung Lai Johnny Wan

    (University of Wales Trinity Saint David)

  • Yulan Wang

    (The Hong Kong Polytechnic University)

Abstract

Chapter 10 focuses on risk management, covering four topics: sources of risks, impacts of supply chain disruptions, strategies to reduce supply chain disruption risks, and strategies to mitigate pandemic-related risks in global supply chains. Risks can arise from internal or external factors, often lead to disruptions that increase costs and lower customer service, and adversely affect revenue and stakeholder value. To mitigate these risks, a supply chain can improve visibility and forecasting to prevent disruptions or implement quick response and decentralization strategies to minimize their impact. The concepts of time-to-recover, time-to-survive, and risk-exposure index, adopted by Ford, are introduced. The COVID-19 pandemic has served as a wake-up call for supply chain decision-makers to pay closer attention to pandemic-related risks. Besides traditional mitigation strategies, businesses can strengthen resilience by streamlining product differentiation and increasing flexibility through process innovations and emerging technologies.

Suggested Citation

  • Chung Lai Johnny Wan & Yulan Wang, 2025. "Risk Issues," Springer Texts in Business and Economics, in: International Operations Management: Concepts and Applications, chapter 10, pages 169-178, Springer.
    • Handle: RePEc:spr:sptchp:978-981-96-6665-2_10
    DOI: 10.1007/978-981-96-6665-2_10
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