Research on risk is built on a complex array of diverse and sometimes inconsistent definitions, constructs, models, and outcomes. This study examines various literatures to formulate an integrated framework for the conceptualization of perceived-risk processing. The framework specifies three phases (framing, assessment, and evaluation) and their accompanying outcomes of risk attention, perceived risk, and risk-taking propensity. Explicit linkages are specified between situational and individual characteristics. Perceived-risk evaluation is identified as conceptually distinct from assessment of perceived risk, and the construct of risk-taking propensity is separated from those of risk affinity and perceived risk. The framework further presents points of intersection between the literatures on perceived risk and the literatures on consumer decision-making, information search, and satisfaction. Finally, it serves as an anchor for framing future research to promote conceptual and methodological consistency, and to guide progress in directions that are consistent with some leading edge paradigms outside of marketing.

The need for theoretical development in logistics and the strategic repositioning of the discipline have been suggested as major challenges for logistics researchers (Stock, 1990). Despite recent advances made by logistics, the requirement for further theoretical development on the strategic role of logistics remains a key priority (Mentzer and Kahn, 1995;Stock, 1996). Today's turbulent competitive environment mandates that a firm must have agility in the marketplace to survive and succeed. Therefore, logistics has become an increasing area of strategic concern for firms (

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