A Novel Fuzzy-Based VIKOR–CRITIC Soft Computing Method for Evaluation of Sustainable Supply Chain Risk Management

Abstract

This article aims to evaluate sustainable supply chain risks using a novel fuzzy VIKOR–CRITIC technique. The research contributions of this study are twofold. First and foremost, this is the first attempt to integrate the fuzzy VIKOR approach with the CRITIC method in order to eradicate the inadequacies of the VIKOR method. Second, this is the first study to look at the sustainable supply chain risk management in Pakistan’s logistics industry. Four logistics companies were chosen for the study, and thirty criteria were established and divided into four categories using acquired data and literature studies. According to the findings, organizational risks are the most important to consider, whereas environmental hazards have the least influence. Supply delays, freight rate/oil price fluctuations, bankruptcy, and natural catastrophe are the four most important criteria in these categories. Limited suppliers, cargo tracking, IT system failure, and international politics are the four least significant criteria in the four risk categories. The findings are useful for the logistics industry operating in CPEC for risk mitigation and sustainable operation. The research may be used as a guideline for risk identification and management by practitioners and decision-makers in Pakistani logistics organizations.

The Moderating Effect of Customer Relationship on Supply Chain Risk Management and Organization Performance in Logistics Sector of Pakistan

“…Shahbaz et al (2019) have examined the literature for supply chain risks. Recently Ul Amin et al (2022) identified and prioritized supply chain concerns for Pakistan’s logistics sector. Risks are classified into four categories, according to their research: supply and procurement risks, distribution risks, organizational risks, and environmental risk.…”

Managing Risks and Crises in the Logistics Sector: A Comprehensive Analysis of Strategies and Prioritization Using AHP Method

“…Risk and crisis management are essential components of effective logistics operations, as the industry is inherently exposed to a multitude of uncertainties and potential disruptions. This section provides a comprehensive overview of risk and crisis management practices in the logistics sector, highlighting their signi cance in ensuring smooth and resilient supply chain operations (Amin et al, 2022). The logistics industry faces a diverse range of risks, including transportation delays, inventory management challenges, supplier disruptions, regulatory changes, and geopolitical events.…”

Key performance indicator based dynamic decision-making framework for sustainable Industry 4.0 implementation risks evaluation: reference to the Indian manufacturing industries

“…The findings of this study were also used to define six target area clusters and map them according to priority using the Sendai framework for disaster risk reduction Bibliometric analysis Habibi Rad et al ( 2021 ) Developed the model which signifies the role of cloud computing, artificial intelligence, big data, and blockchain technology in I4.0 risks management The study delves into the role of the listed I4.0 technologies in risk management, focusing on market pressure, rules and regulations, digital transformation maturity, and the technologies’ resilience and usefulness in dealing with risk-related concerns Structural equation modeling Rodríguez-Espíndola et al ( 2022 ) Established KPIs to evaluateI4.0 technologies and provide recommendations to decision-makers on I4.0 deployment and performance evaluation The main focus of the study was to provide a ready-to-use solution to the industries. Used a case study approach to justify the significance of the derived KPIs Literature review and case study Braglia et al ( 2022 ) Developed a sustainable supply chain risks management model for Pakistan logistic companies The most prominent risk is an organizational risk, and the least essential risk is an environmental risk Fuzzy-based VIKOR–CRITIC Ul Amin et al ( 2022 ) SSCM sustainable supply chain management, FTOPSIS fuzzy technique for order of preference by similarity to ideal solution, VIKOR Vlse Kriterijumska Optimizacija I Kompromisno Resenje, PF-AHP pythagorean fuzzy analytic hierarchy process, PF-VIKOR pythagorean fuzzy VIKOR, SVNSs single valued neutrosophic sets, COPRAS-G complex proportional assessment-grey, CRITIC criteria importance through inter-criteria correlation method …”

“…Earlier studies have focused on the evaluation of supply chain risks in the context of I4.0, blockchain deployment risks, I4.0 implementation challenges, I4.0 risks assessment, the specific impact of I4.0 KPI either in a limited or scattered manner (Chowdhury et al, 2022 ; Senthil et al, 2018 ; Ul Amin et al, 2022 ; Žižek et al, 2020 ). In addition to it, the combined approach for all prominent I4.0 risks and I4.0 KPIs evaluation in one setup is also found unattempted in past studies.…”