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Main Title: Selecting the right supply chain based on risks
Author(s): Wieland, Andreas
Type: Article
Language Code: en
Abstract: Purpose – The purpose of this paper is to propose a model that enables a company to select the supply chain strategy based on risk probability p (measure of how likely/often a detrimental event occurs) and risk impact i (expression of the significance of a loss when that event occurs). Design/methodology/approach – This paper discusses four supply chain strategies: agility, robustness, resilience and rigidity. Mathematical models are used for the strategies’ cost functions, which reveal optimal solutions and break-even points in dependence of p and i. Findings – This paper proposes that resilience is appropriate in the case of high supply chain risk probability and impact, and rigidity if both values are low. When only risk impact is low, robustness is optimal, whereas agility is optimal when only risk probability is low. Research limitations/implications – This research extends existing models for selecting the appropriate supply chain strategy. Practical implications – Knowledge of the interplay between the strategies’ cost functions and risk probability and risk impact is vital for companies. This may encourage managers to become more familiar with their strategy costs and supply chain risks. Originality/value – To the author’s knowledge, no corresponding model exists so far that links risk impact and risk probability to the four supply chain strategies.
Issue Date: 2013
Date Available: 26-Oct-2017
DDC Class: 630 Landwirtschaft und verwandte Bereiche
640 Hauswirtschaft und Familie
Subject(s): supply chain management
risk management
Journal Title: Journal of manufacturing technology management
Publisher: Emerald
Publisher Place: Bingley
Volume: 24
Issue: 5
Publisher DOI: 10.1108/17410381311327954
Page Start: 652
Page End: 668
ISSN: 1741-038X
Notes: Dieser Beitrag ist mit Zustimmung des Rechteinhabers aufgrund einer (DFG geförderten) Allianz- bzw. Nationallizenz frei zugänglich.
This publication is with permission of the rights owner freely accessible due to an Alliance licence and a national licence (funded by the DFG, German Research Foundation) respectively.
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