Organizational Risk Perception and Reduction: A Literature Review

Mitchell, Vincent‐Wayne

doi:10.1111/j.1467-8551.1995.tb00089.x

Cited by 263 publications

(211 citation statements)

References 88 publications

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“…Some papers, however, do focus on how a company should respond to supply and demand risks (Demirel 2012;Mitchell 1995;Tomlin 2006;Wang et al 2010;Zsidisin et al 2004;Zsidisin et al 2000). Flexible strategies are most commonly discussed by scholars as a way to mitigate risks in industrial supply chains (Sodhi and Tang 2012;Tang and Tomlin 2008).…”

Section: Research Framework and Methodsmentioning

confidence: 99%

Managing risks in the Indonesian seaweed supply chain

Mulyati

Geldermann

2016

Clean Techn Environ Policy

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Seaweed supply chains in Indonesia, especially carrageenan and agar products, are subject to risks arising both inside the participating companies and in their external networks. Uncertainties in yield, quality, price, and infrastructure in one part of the supply chain can affect the whole chain. To ensure a sustainable seaweed industry, an appropriate supply chain risk management (SCRM) is needed. There are four critical steps in SCRM: identifying seaweed supply chains, identifying and categorizing risks, assessing risks, and mitigating risks. To identify seaweed supply chains, we conducted field research, in-depth interviews, and literature studies. The field survey was conducted in the Provinces of South Sulawesi, West Java, East Java, Banten, and West Nusa Tenggara. The seaweed supply chains were modeled by the software Umberto to get a better understanding of material and energy flows between the key members. To identify and categorize the risks, we started with the risks mentioned in the existing literature works, and then applied the Delphi method to analyze the potential risk sources, their causes, and their impacts. To assess risks, we used a semiquantitative approach through the face-to-face interviews to generate a risk map showing the likelihood, and impact of adverse events. Afterward, the risk intensity was categorized based on the value of the responses and classified into five categories: negligible, marginal, critical, most critical, and catastrophic risks. The mitigation strategies considered sustainability (environment, economy, and social) and risks criteria. Multi-criteria decision analysis was used to evaluate these strategies.

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Section: Research Framework and Methodsmentioning

confidence: 99%

Managing risks in the Indonesian seaweed supply chain

Mulyati

Geldermann

2016

Clean Techn Environ Policy

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“…The most common re-sponse has been to reduce or stop production until systems were operational again. The September 11, 2001 (9/11) terrorist attacks ZKLFK GHOD\HG JRRGV ÀRZLQJ EHWZHHQ WKH United States and Canada, (Keenan, 2001) Mitchell (1995) would categorize these examples as "performance loss" or "time loss" due to supply chain failure. However, the impact of supply chain failure does not end with merely immediate perfor mance and time losses; they can extend to ³¿QDQFLDO ORVV´GXH WR ORVW RUGHUV RU WKH operational cost of remedying the failure, "physical loss" of facilities or supplies in FDVHV RI ¿UH RU ÀRRG DQG HYHQ WR ³VRFLDO ORVV´RI WKH ¿UP ¶V UHSXWDWLRQ IRU UHOLDELOLW\ or "psychological loss" due to the stress of coping with the failure or damage to the organization's self-perception.…”

Section: Supply Chain Failure and Jit Systemsmentioning

confidence: 99%

A Strategic Framework for Managing Failure in JIT Supply Chains

Balakrishnan

Bowen

2010

Innovations in Supply Chain Management for Information Systems

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Section: Stage 1: Riskmentioning

confidence: 99%

“…Another take on this is that "the uncertainty component of risk stems from 30 imperfect knowledge" (V.-W. Mitchell, 1995). Regardless of whether risk is part of uncertainty or vice versa, we are more interested in how risks and uncertainties can hurt supply chain operations.…”

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confidence: 99%

“…(V.-W. Mitchell, 1995;Yates & Stone, 1992) The risk of any particular type of loss is a combination of the probability of that loss and the significance of that loss to the individual or organization. The risk of any particular type of loss is a combination of the probability of that loss P (Loss n ) and the significance of that loss to the individual or The first entry in Table 5 exemplifies the financial interpretation of variability, and combined with Wagner & Bode's (2009) more statistically derived statement towards the end of the same table, we get a sense that risk occurs when there is possible variability of future outcomes.…”

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confidence: 99%

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Supply Chain Risk Management in India: An Empirical Study of Sourcing and Operations Disruptions, their Frequency, Severity, Mitigation Methods, and Expectations

Udbye¹

2000

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With an annual growth of almost 20% since the year 2000, Indian merchandise exports exceeded 300 billion U.S. dollars in 2012. The country is becoming a major supplier to the world. However, companies sourcing products and operating in India are experiencing a variety of supply chain disruptions that impede their operations and finances. The purpose of this dissertation is to investigate the frequency, impact and severity of supply chain risks experienced by companies in India, as well as assess the usefulness of mitigation methods and enquire about future expected disruptions. It is hoped that the results will prepare managers to better prioritize their supply chain risk management efforts and investments. The scope of this study is upstream (sourcing and operations) disruptions that affected Indian supply chains over the past three years, including the areas of logistics and transportation. The methodology is a quantitative, empirical study, using a survey instrument in the form of a questionnaire distributed electronically to thousands of members of four prominent trade associations in India.The platform for the questionnaire is a modification of a traditional risk analysis progression: mapping, identifying, assessing, mitigating and improving, also dubbed "MIAMI".The main findings are that there are major and significant differences in severity (frequency and impact) between the thirteen risk categories presented. There are also significant group differences among the respondents. Traditional mitigation methods differ with respect to usefulness, and expected risks are somewhat different than past ii risks. Conclusions reached are that chronic risks such as inadequate transportation, logistics and utilities infrastructure, supplier and labor problems, and bureaucracy/red tape are more severe than highly publicized and visible risks such as natural disasters, terrorism and crime. Traditional mitigation methods are useful for many of the disruptions, but ineffective for non-physical risks. There is a certain optimism with respect to future infrastructure related disruptions.Limitations of the study include a relatively low response rate, the classic difficulty in risk analysis of comparing and scaling the impact of disruptions, and that it is not fine grained enough to fully describe any specific industry sectors. This study contributes to the field of supply chain risk management by adding crucial empirical information from a heretofore unexplored market.iii DEDICATIONThe dissertation is dedicated to my faithful wife, Kari, who not only financed a great deal of my self-actualization project, but also suffered through more than five years of stress, distractions and excuses. Obtaining a doctorate at middle age is hard on the family.I cannot thank her enough. 1 According to Webster's Dictionary, both disturb and disrupt mean to "throw into disorder". This dissertation uses the term disruption most of the time, but occasionally the synonym disturbance is applied (Merriam-Webster, 1976). Disruption can b...

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Organizational Risk Perception and Reduction: A Literature Review

Cited by 263 publications

References 88 publications

Managing risks in the Indonesian seaweed supply chain

Managing risks in the Indonesian seaweed supply chain

A Strategic Framework for Managing Failure in JIT Supply Chains

Supply Chain Risk Management in India: An Empirical Study of Sourcing and Operations Disruptions, their Frequency, Severity, Mitigation Methods, and Expectations

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