Risk analysis of the agri-food supply chain: A multi-method approach

Zhao, Guoqing; Liu, Shaofeng; López, Carmen; Chen, Huilan; Lu, Haiyan; Mangla, Sachin Kumar; Elgueta, Sebastián

doi:10.1080/00207543.2020.1725684

Cited by 98 publications

(140 citation statements)

References 85 publications

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“…Thirdly, the hierarchical as well as non-hierarchical relationships among the identified PESTEL factors of sustainable HCWM during the COVID-19 outbreak, can be explored using the TISM methodology, which will facilitate the hospitals’ management for real-life decisions (Thakur and Ramesh, 2016). Fourthly, the fuzzy-MICMAC analysis combined with TISM will help in capturing the relationships among elements more precisely than conventional MICMAC ( Zhao et al, 2020 ).…”

Section: Methodsmentioning

confidence: 99%

“…To understand the nature of any industry, it is essential to explore the macro-environment surrounding that industry and PESTEL analysis is instrumental in defining the role of the macro-environment in handling the HCWM during the COVID-19 outbreak ( Pan et al, 2019 ; Mkude and Wimmer, 2015 ). After identifying the PESTEL dimensions, the hierarchical as well as non-hierarchical interrelationships among these dimensions have been explored using TISM ( Zhao et al, 2020 ; Zorpas, 2020 ). TISM framework will facilitate the hospitals’ administration and waste handlers to pinpointing the short-term and long-term objectives for managing the HCW efficiently during the COVID-19 outbreak ( Raut et al, 2018 ).…”

Section: Literature Reviewmentioning

confidence: 99%

“… Lakshmi and Suresh (2020) TISM-MICMAC approach for handling COVID-19 pandemic. Zhao et al (2020) Analyzed risk in the agri-food supply chain using TISM-MICMAC methodology. Shankar et al (2019) Development of dedicated freight corridors using TISM-MICMAC framework.…”

Section: Literature Reviewmentioning

confidence: 99%

“…PESTEL analysis will help in understanding the whole situation, including an extra burden on the existing waste management system from the macro perspective ( Mkude and Wimmer, 2015 ). Thereafter, the study has applied a TISM methodology to model the factors under PESTEL dimensions of sustainable HCWM during the COVID-19 outbreak ( Zorpas, 2020 ; Zhao et al, 2020 ). TISM is very useful in defining the interrelationships among all the identified factors under PESTEL dimensions and articulates the problem in a simplified structure ( Raut et al, 2018 ; Thakur and Ramesh, 2016).…”

Section: Introductionmentioning

confidence: 99%

“…TISM is very useful in defining the interrelationships among all the identified factors under PESTEL dimensions and articulates the problem in a simplified structure ( Raut et al, 2018 ; Thakur and Ramesh, 2016). Since, the strength of interrelationships among all the PESTEL dimensions of sustainable HCWM is not equal, hence, the fuzzy-MICMAC analysis will do the sensitivity analysis of the defined interrelationships ( Zhao et al, 2020 ).…”

Section: Introductionmentioning

confidence: 99%

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Framework for PESTEL dimensions of sustainable healthcare waste management: Learnings from COVID-19 outbreak

Thakur

2021

Journal of Cleaner Production

115

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The COVID-19 pandemic has put the world economy at an unprecedented position and protecting society from the infection is at the core of all measures. As the COVID-19 virus stays longer on plastic and stainless steel materials, hence the healthcare wastes (HCW), coming out of the treatment of COVID-19 infected patients can be one of the potential route for transmission of infection. Therefore, the present study analyses the dimensions of sustainable HCWM by using a multi-method approach: PESTEL (political, economic, social, technological, environmental and legal) analysis, TISM (total interpretive structural modeling) and fuzzy- MICMAC (cross-impact matrix multiplication applied to classification) analysis. The opted research framework yields 17 PESTEL dimensions of sustainable HCWM during the COVID-19 outbreak through the literature survey and experts’ discussions. Then, the TISM methodology developed a hierarchical digraph of all the 17 dimensions of sustainable HCWM based on the interrelationships. Fuzzy-MICMAC analysis classified all 17 PESTEL dimensions into four groups depending upon their driving and dependence powers. The study concluded that the policy framework for targeting political, legal and environmental issues should be the immediate concern of the worldwide governments and health officials. The effluent control and compliance to environmental laws being the output dimensions should be tracked regularly for ensuring the cleaner production in healthcare services. The PESTEL analysis will help the hospitals’ managers and policymakers to understand the macro-environment surrounding the HCWM.

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Section: Methodsmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Framework for PESTEL dimensions of sustainable healthcare waste management: Learnings from COVID-19 outbreak

Thakur

2021

Journal of Cleaner Production

115

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How can banks and finance companies incorporate value chain factors in their risk management strategy? The case of agro‐food firms

Wasan

Kumar

Luthra³

2022

Bus Strat Env

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A value chain framework for guiding the financial firms in their credit decisions is urgent, as the current COVID-19 pandemic has highlighted, but missing in the extant literature, particularly for those that lend to industries sensitive to value and supply chain bottlenecks. This study creates knowledge in value chain finance, a big untapped and un-researched market. It constructs, confirms, and validates a value chain framework for assessing risks in lending to Agro and Food Processing firms in which value chain risks are major business concerns globally. To pursue the objectives of the study, we use a novel methodology that integrates the Modified Delphi technique, exploratory factor analysis, confirmatory factor analysis, and discriminant analysis. Based on testing and analysis of primary data, including loan data, a framework comprising six factors is proposed for use in conjunction with existing risk assessment models of finance companies to improve the quality of their credit decisions, contributing to their performance sustainability.agro-food, bankruptcy, default risk, risk management, supply chain financing, value chain | INTRODUCTIONIncreasing modernization is causing higher integration and interdependence among firms across the value chain. Technology has connected value chains globally, providing new opportunities for small companies and market players from developing countries and emerging-market economies to partake in the world economy as they are now not required to hold expertise in all the stages of production and distribution (OECD, 2021). Technology-enabled changes over the last many years have also magnified the swiftness and size of disruptions in an unprecedented manner, which conjoined with increasing trends of globalization, urbanization, environmental performance concerns, and shifting demographics are amplifying and intensifying uncertainty in the marketplace (Lee & Trimi, 2021). The outbreak of the COVID-19 pandemic in the year 2020 is estimated to have caused combined revenue losses of up to $4 trillion in U.S. and European firms from supply chain disruptions (Mitchell, 2021). It has highlighted and advanced the need for firms to bring changes in their traditional business models for sustaining performance in periods of crisis (Breier et al., 2021;Khan et al., 2021). Sixty-four percent of U.S. and European firms had revenue losses between 6% and 20% in 2020, along with severe damage to their brand value (Mitchell, 2021). Although the COVID-19 in present times is a significant disruptor responsible for straining and breaking the value chains, it is only one among other disruptive forces such as cyberattacks, diverging regulations, and instability in commodity prices (Clark, 2021). Companies across industries can expect significant financial loss causing value chain disruptions every 3.7 years

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A systematic assessment of multi‐dimensional risk factors for sustainable development in food grain supply chains: A business strategic prospective analysis

et al. 2023

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The food grain supply chain (FGSC) is composed of several links, stretching from the point of production to the point of consumption. A broken connection might produce a food catastrophe. The structural imbalance of India's FGSC is an obstacle to achieving sustainability; this has to be addressed if the country is to preserve national food security. This present study aims to develop a systematic assessment of the risks and the priority of risk‐mitigating solutions in attaining sustainability in the Indian FGSC. Multiple groups of individuals and businesses involved in the FGSC have been surveyed and interviewed, with their responses analyzed. A total of 31 risk factors and 11 risk‐reduction strategies are identified. Further, the identified risk factors are classified into five‐dimensional sustainability criteria (environmental, economic, institutional, technical, and social) by using exploratory factor analysis (EFA). Then, a fuzzy analytical hierarchy process (FAHP), combined with the fuzzy technique for order performance by similarity to ideal solution (FTOPSIS) method, is adopted to find the most critical risk factors and choose the best course of strategies for risk mitigation. The study finds that inability to incorporate advanced technology imposes the highest risk to sustainability followed by natural disasters. Ensuring end‐to‐end computerization using advanced technology like agri 4.0 is the need of the hour in intercepting the range of FGSC risks. The results may help policymakers create a comprehensive risk mitigation plan and taxonomy to increase supply chain resilience.

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Risk analysis of the agri-food supply chain: A multi-method approach

Cited by 98 publications

References 85 publications

Framework for PESTEL dimensions of sustainable healthcare waste management: Learnings from COVID-19 outbreak

Framework for PESTEL dimensions of sustainable healthcare waste management: Learnings from COVID-19 outbreak

How can banks and finance companies incorporate value chain factors in their risk management strategy? The case of agro‐food firms

A systematic assessment of multi‐dimensional risk factors for sustainable development in food grain supply chains: A business strategic prospective analysis

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