Identifying risk issues and research advancements in supply chain risk management

Abstract

The purpose of this paper is to investigate the research development in supply chain risk management (SCRM), which has shown an increasing global attention in recent years.Literature survey and citation/co-citation analysis are used to fulfil the research task.Literature survey has undertaken a thorough search of articles on selected journals relevant to supply chain operations management. Meanwhile, citation/co-citation analysis uses Web of Sciences database to disclose SCRM development between 1995 and 2009. Both approaches show similar trends of rising publications over the past 15 years. This review has piloted us to identify and classify potential risk associated with different flows, namely material, cash and information flows. Consequently, we identify some research gaps. Even though there is a pressing need and awareness of SCRM from industrial aspect, quantitative models in the field is relatively lacking and information flow risk has received less attention. It is also interesting to observe the evolutions and advancements of SCRM discipline. One finding is that the intellectual structure of the field made statistically significant increase during 2000-2005 and evolved from passively reacting to vague general issues of disruptions towards more proactively managing supply chain risk from system perspectives.

Development of a risk-oriented strategic sourcing (ROSS) framework for the construction and electronics manufacturing industries

“…Quality is seen as the second critical risk factor, which is in line with the critical success factors identified in this research project (see Chapter 4.6) and research by Manuj and Mentzer (2008) or Tummala and Schoenherr (2011). Supplier capabilities are also important (Chopra and Sodhi, 2004;Tang and Musa, 2011), but are mainly considered within the supplier selection process Although the companies faced several supply security issues, this risk is underrepresented within the wider consideration, and the interviewees mainly mentioned external risks. However, the sourcing function should consider strategic risks resulting from sourcing strategies such as single sourcing or outsourcing, lean supply chain, global sourcing and central warehousing (Jüttner, 2005).…”

“…Narasimhan and Talluri (2009) present a review of risk management in the supply chain within an editorial. Furthermore, Tang (2006) provides a classification of articles in supply chain risk management, together with Tang and Musa (2011), who apply citation analysis in their review. These review papers provide a starting point to uncover developments in supply chain risk management.…”

“…Therefore, to avoid bias, such as the positive judgement of the sourcing responsible, the herein defined cluster will highlight the transparency in risk exposure. The focus on, and consideration of, single sourcing is claimed by several authors to be a significant risk (Chopra and Sodhi, 2004;Sinha et al, 2004;Schoenherr et al, 2008;Tang and Musa, 2011) The interview findings highlighted the need for, and weakness in, the collaboration of planning and information exchange with suppliers, and the possibility of the bullwhip effect is relatively high. The demand risks within the supply chain is a critical dimension that the sourcing function must manage (Chopra and Sodhi, 2004;Hallikas et al, 2004;Tang, 2006;Wagner and Bode, 2006).…”

Recycling procurement strategies with variable yield suppliers

“…There are many wide-ranging risk assessment strategies discussed in the literature. We refer the reader to literature reviews on this topic (Zsidisin et al, 2004;Ritchie and Brindley, 2007;Tang and Musa, 2011;Colicchia and Strozzi, 2012).…”

An investigation on the effect of risk management on earnings volatility for shares of banks listed in Tehran Stock

“…In fact, many investors are looking for investment in low risk opportunities with relatively high degree of reward (Alijoyo, 2004). The risk of a company's market is measured by fluctuations in its stock returns and the stock price is also associated with the earnings per share (Beaver et al, 1970;Tang & Musa, 2011). Therefore, companies tend to reduce return volatility by reducing fluctuations in profits, and ultimately affect investors' as well as creditors' perceptions of company risk.…”