Management Studies and Business Journal
Vol. 1 No. 12 (2024): Management Studies and Business Journal (PRODUCTIVITY)

THE IMPORTANCE OF SUPPLY CHAIN RISK MANAGEMENT: IDENTIFYING, ASSESSING, AND MITIGATING SUPPLY CHAIN RISKS

Suprayitno, Degdo (Unknown)



Article Info

Publish Date
15 Dec 2024

Abstract

This research discusses the importance of supply chain risk management (SCRM) in the context of increasingly complex and interconnected global supply chains. With increased vulnerability to disruption, as seen during the COVID-19 pandemic, companies need to develop robust SCRM strategies to ensure continuity of operations. This research aims to identify common and emerging risks in the supply chain, analyze factors that influence the severity of risks, and explore effective mitigation strategies. Through a systematic literature review approach, this research finds that traditional risks such as operational disruption and price fluctuations are still a major concern, while new risks such as cyber attacks and geopolitical instability are increasingly dominating. Additionally, factors such as supply chain complexity, reliance on technology, and market dynamics play an important role in determining the impact of risks. This research suggests that companies adopt strategies of supplier diversification, digitalization, collaboration with stakeholders, and sustainable practices to increase the resilience of their supply chains.

Copyrights © 2024






Journal Info

Abbrev

productivity

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Management Studies and Business Journal (PRODUCTIVITY) reviewed covers theoretical and applied research in the field of Management and Business. Priority is given to those articles which satisfy the main scope of the journal, and have an impact in the research areas of interest. PRODUCTIVITY Journal ...