A Comprehensive Analysis of the Determinants of Swap Problem in the Supply Chain of the Petroleum Industry

Al-Hussain, Raed; Khorramshahgol, Reza

doi:10.5539/ijsp.v5n6p108

Cited by 4 publications

(2 citation statements)

References 10 publications

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“…The aforementioned challenges and issues involved in the PSC have attracted the global research attention in the past decade (Gardas et al, 2019;Tarei et al, 2018;Al-Qubaisi and Ajmal, 2018;Hussain and Khorramshahgol, 2016;Modarress et al, 2016;Lima et al, 2016;Shah et al, 2011). To the best of our knowledge, the existing literature is yet to deliver any published work focusing on the SC RM phase in the petroleum/oil and gas sector.…”

Section: Sc Risk Mitigation Strategies and Practicesmentioning

confidence: 99%

Benchmarking the relationship between supply chain risk mitigation strategies and practices: an integrated approach

Tarei

Thakkar

Nag

2020

BIJ

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PurposeThe purpose of this paper is to explore the relationship between various risk management strategies and risk management practices in order to design and hence enact a suitable supply chain risk mitigation (RM) plan. Additionally, this study proposes a hierarchical framework to explain the mutual relationship between supply chain risk management (SCRM) practices and strategies by considering the underlying dimensions between them.Design/methodology/approachAn amalgamation of systematic literature analysis (SLA) and correspondence analysis (CA) has been performed to develop the conceptual framework. A real-life case of Indian petroleum supply chain has been considered to validate and explain the proposed model.FindingsThe results reveal three underlying dimensions, which associate the relationship between RM strategies. They are, risk adaptability of SC managers with a variance of 34.71%, followed by resource capability of the firm and the degree of sophistication of RM practices, with variances of 27.72 and 20.35%, respectively. Risk avoidance strategy comprises of practices such as supplier evaluation, technology adaption, flexible process and information security. On the other extreme, the risk sharing strategy includes revenue sharing, insurance, collaboration, public–private partnership and so on as essential RM practices.Research limitations/implicationsThe study not only focuses on the distinction between RM strategies and practices, which were used interchangeably in the prior literature, but also provides an association between the same by exploring the underlying dimensions. These underlying dimensions perform a crucial role while developing a risk management plan. This study explicitly focuses on the RM step of SCRM process. Pre and post risk mitigation phases of SCRM process, such as risk assessment and risk monitoring, are beyond the scope of the current research.Originality/valueThe paper develops a framework for mapping various RM strategies with their corresponding practices by considering the Indian petroleum supply chain as a viable case study. Various theoretical and business implications are derived in the context of the developing country.

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Section: Sc Risk Mitigation Strategies and Practicesmentioning

confidence: 99%

Benchmarking the relationship between supply chain risk mitigation strategies and practices: an integrated approach

Tarei

Thakkar

Nag

2020

BIJ

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“…The hazardous (explosive) chemical can be traded several times before the point of actual consumption. Though the challenges and issues involved in the PSC have attracted the global research attention in the past decade (Hussain and Khorramshahgol, 2016;Modarress et al, 2016;Lima et al, 2016;Shah et al, 2011;Varma et al, 2007), the existing literature has yet to provide any published work focusing the quantification of the overall risk in petroleum/oil and gas SC. The following section summarizes the importance of the investigation of risk in the context of PSC:…”

Section: Importance Of Risk In Pscmentioning

confidence: 99%

A hybrid approach for quantifying supply chain risk and prioritizing the risk drivers

Tarei

Thakkar

Nag

2018

JMTM

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Purpose The purpose of this paper is to identify various risk and sub-risk drivers that affect the supply chain (SC) performance and to propose a framework to quantify the overall SC risk index by considering the importance of each risk and sub-risk drivers and their mutual interactions. Design/methodology/approach A hybrid method based on decision-making trial and evaluation laboratory and analytical network process has been proposed to develop the risk quantification framework. A case study of Indian petroleum supply chain (PSC) has been illustrated to explain the proposed method. Findings The results of this study found that transportation/logistics (delivery system), quality of the petroleum products, crude supply, customer’s order and legal/political regulations are the most significant risk drivers of a typical PSC. It is also found that the Indian PSC possesses a risk score of 34 percent. Research limitations/implications The quantification of risk in operational measure provides an unblemished representation of the overall SC risk. Unlike the existing financial measure, it takes complex subjective operational effectiveness like product quality, customer satisfaction, etc., into consideration. Identifying the high-prioritized risks helps the decision and policy makers to merely focus on the most prominent risk drivers, and reduce the impact of overall SC risk. Planning a risk mitigation strategy at a given level of risk is however beyond the scope of this research. Originality/value The paper develops a risk quantification framework in the context of a PSC.

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Petroleum supply chain dynamic risk assessment using Bayesian network

Nicknezhad,

Zegordi

2024

Computers & Chemical Engineering

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A Comprehensive Analysis of the Determinants of Swap Problem in the Supply Chain of the Petroleum Industry

Cited by 4 publications

References 10 publications

Benchmarking the relationship between supply chain risk mitigation strategies and practices: an integrated approach

Benchmarking the relationship between supply chain risk mitigation strategies and practices: an integrated approach

A hybrid approach for quantifying supply chain risk and prioritizing the risk drivers

Petroleum supply chain dynamic risk assessment using Bayesian network

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