Supply chain risk management: present and future scope

Abstract

PurposeThis paper examines Supply Chain Risk Management (SCRM) from a holistic systems thinking perspective by considering different typologies that have evolved as a result of earlier research. The aim of the research reported in this paper is the identification of important strategic changes in the field and to outline future requirements and research opportunities in SCRM. Design/methodology/approachThe Systematic Literature Review (SLR) methodology employed by our research was used to evaluate and categorise a literature survey of quality articles published over a period of 10 years (2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010). Additionally, the findings from the SLR have been strengthened through cross validation against results obtained from an associated text mining activity. FindingsThe SLR methodology has provided a rich, unbiased and holistic picture of the advances in the field of SCRM. Consequently, important new research areas have been identified based on a multiperspective descriptive and thematic data analysis. In addition, our analysis based on evolved typologies indicates a growth of SCRM from a nascent to a fairly established activity over the past decade. Practical implicationsThe systematic approach undertaken for the literature review will provide future researchers and managers with an insightful understanding of the scope of the SCRM field. Also, the literature review provides important clues on new research directions for SCRM through identification of gaps in current knowledge. Originality/valueThe holistic approach to SCRM was found to be an important missing link in earlier literature surveys. The outcome of the Systematic Literature Review reported in this paper has provided critical insights into the present and future scope of the SCRM field. The identified research insights, gaps and future directions will encourage new research techniques with a view to managing the risks in the globalized supply chain environment. KeywordsSupply Chain Risk Management, Systematic Literature Review, Text Mining. Paper type Literature review INTRODUCTIONToday's e-world has led to an information explosion from the countless data sources that appear on a daily basis. Supply Chain Risk Management (SCRM) is an area that has recently been receiving a great deal of interest from academics and practitioners. SCRM is believed to be in an emerging and promising new field by researchers (Sodhi et al., 2012) but has a number of open-ended boundaries in its scope. Various authors have carried out a literature review on SCRM at various stages over the last 10 years (e.g. Juttner et al., 2003;Vanany et al., 2009;Rao and Goldsby, 2009) who provide a good platform for researchers and practitioners trying to make sense of the on-going research and identify the current state-of-art. However, narrative literature reviews are believed to lack thoroughness and rigour (Tranfield et al., 2003). On the contrary, evidence based reviews are considered to be more thorough and transparent as they provide...

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