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Assessing and managing risks using the Supply Chain Risk Management Process (SCRMP)

Assessing and managing risks using the Supply Chain Risk Management Process (SCRMP) Purpose – The purpose of this paper is to propose a comprehensive and coherent approach for managing risks in supply chains. Design/methodology/approach – Building on Tummala et al. 's Risk Management Process (RMP), this paper develops a structured and ready‐to‐use approach for managers to assess and manage risks in supply chains. Findings – Supply chain risks can be managed more effectively when applying the Supply Chain Risk Management Process (SCRMP). The structured approach can be divided into the phases of risk identification, risk measurement and risk assessment; risk evaluation, and risk mitigation and contingency plans; and risk control and monitoring via data management systems. Specific techniques for conducting this process are suggested. Originality/value – While supply chain risk management is an emerging and important topic in our dynamic and interconnected world, conceptual frameworks providing a clear meaning and normative guidance are scarce (Manuj and Mentzer, 2008). This paper presents such a framework, offering structure and decision support for managers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Supply Chain Management An International Journal Emerald Publishing

Assessing and managing risks using the Supply Chain Risk Management Process (SCRMP)

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References (60)

Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1359-8546
DOI
10.1108/13598541111171165
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to propose a comprehensive and coherent approach for managing risks in supply chains. Design/methodology/approach – Building on Tummala et al. 's Risk Management Process (RMP), this paper develops a structured and ready‐to‐use approach for managers to assess and manage risks in supply chains. Findings – Supply chain risks can be managed more effectively when applying the Supply Chain Risk Management Process (SCRMP). The structured approach can be divided into the phases of risk identification, risk measurement and risk assessment; risk evaluation, and risk mitigation and contingency plans; and risk control and monitoring via data management systems. Specific techniques for conducting this process are suggested. Originality/value – While supply chain risk management is an emerging and important topic in our dynamic and interconnected world, conceptual frameworks providing a clear meaning and normative guidance are scarce (Manuj and Mentzer, 2008). This paper presents such a framework, offering structure and decision support for managers.

Journal

Supply Chain Management An International Journal – Emerald Publishing

Published: Sep 27, 2011

Keywords: Supply chain management; Risk management process; Supply chain risk; Risk management

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