A fuzzy-based multi criteria decision making approach for supply chain risk assessment in Indian pharmaceutical industry

Haleem

2020

JM2

Purpose In a globalised environment, market volatility makes risk management an essential component of the supply chain. Similar to conventional supply chains, a Halal supply chain (HSC) is also affected by several factors making it vulnerable to risks. Therefore, the purpose of this study is to identify and analyse the elements of Halal supply chain management (HSCM) and their significant risk dimensions. Design/methodology/approach In total, 72 risk elements of HSCM are identified through a review of contemporary scientific literature along with news items and official websites related to risk management of conventional supply chain management, HSC and sustainable supply chain. Further, 42 risk elements are finalised using fuzzy Delphi and then these risk elements are categorised into 7 dimensions. The interrelationships among the risk dimensions as well as risk elements are developed using fuzzy DEMATEL. Findings Results suggest that production, planning, logistic & outsourcing and information technology-related risk are prominent risk dimensions. The causal relationships among the significant risk dimensions and elements related to the HSCM may help managers and policy planners. Research limitations/implications This study faces a challenge due to inadequate availability of the literature related to risk management in the area of HSCM. Further, this study has used inputs from experts, which can be biased. Originality/value To the best of the author's knowledge, it is the first comprehensive study towards investigating the interrelationships among the risks in the context of the HSCM.

Section: Literature Reviewmentioning

confidence: 99%

Risk management in Halal supply chain: an integrated fuzzy Delphi and DEMATEL approach

Haleem

2020

JM2

“…The presence of independent directors on the board is an indication of controls existing in the company and which limit the risk of financial distress. Bankruptcy prediction models have also been developed by removing the impact of earnings management resulting in a higher accuracy of prediction of financial distress (Vishwakarma et al, 2016;Barua, 2017, 2016b;Lin et al, 2016;du Jardin et al, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

An analysis of factors affecting financial distress of airline companies: case of India

Mahtani

Garg

2020

IJBEX

The airline companies in India face a number of challenges owing to dynamic conditions prevailing in the passenger market and in the input cost structure. These conditions have led to many of these companies facing financial distress and even bankruptcy. In this environment, it is extremely important that management is able to identify those factors which have a large impact on their financial performance. This study focuses on identifying those factors from financial, operational and external conditions which are a major influence on the financial condition of the airlines. Financial and operating data of seven airlines in India is compiled from 2006 to 2017. The importance of including these factors is tested by comparing the accuracy of all factors based model against a model designed with financial ratios only. The study confirms that a logistic regression model designed with performance, operating and financial factors have a higher accuracy in the assessment of financial distress for an airline in India, as compared to models consisting only financial factors.

“…As the physical flow moves to downstream, demand-related risks, such as demand variability, high competition in the market, customer bankruptcy and customer fragmentation, when incurred, make firms unable to forecast real market demands (Shenoi et al, 2016, Vishwakarma et al, 2016. Consequently, operating activities are disordered, costs overrun, resulting in revenues and profits falling (Fleischhacker and Fok, 2015).…”

Section: Conceptual Frameworkmentioning

confidence: 99%

Managing risks and system performance in supply network: a conceptual framework

Quang

Hara

2019

IJLSM

Examining a certain risk will provide an insight into a single dimension, but a picture of different risks in the supply chain (SC) is still lacking, as risks do not take place independently, but typically simultaneously. This research aims to propose and validate a conceptual framework for linking various dimensions of risks to system performance in the SC. To this end, first, risks in supply network were identified by applying SC mapping -a new approach in SC risk body of literature. Then the theoretical conceptual framework comprising a holistic set of SC risks was proposed. In this model, risks were classified into three categories with regard to their level of impact on performance, i.e. core risks (supply, operational and demand risks), infrastructure risks (finance, information and time risks) and external risk. Empirical evidence at Vietnam construction industry showed that a total of nine SC risks were established. Accordingly, there are two new concepts formed from operational risk, namely (1) investor-related operational risks and (2) contractor-related operational risks. External risk moreover was split into two new dimensions: (1) human-made risks and (2) natural risks. Except for relationships between demand risk & SC performance and between SC risks & financial performance, these risks have mutual interaction and detrimentally affect SC performance. Using this framework, companies will have a systematic view of risks in the whole SC network whereby they can define risks in their own context and ascertain critical SC risks that cause negative effects on SC performance. Moreover, this framework can be used as a 'guidemap' in an effort to mitigate SC risks.