Supply Chain Risk Perception: Understanding the Gap Between Theory and Practice

Adeseun, Maria Adebola; Anosike, Anthony; Reyes, Jose Arturo Garza; Al-Talib, Moayad

doi:10.1016/j.ifacol.2018.08.211

Cited by 14 publications

(5 citation statements)

References 16 publications

(12 reference statements)

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“…Ilhan and Rahim [9] indicate, among other activities in the process of digital transformation, the need for training employees as well as suppliers to successfully respond to new challenges. Adeseun et al [47] say procurement risks are more easily identified and managed when stakeholders are involved in the process and the consequences are clear. They also emphasized that there is a connection between employees' experience level and the organization itself.…”

Section: Literature Overviewmentioning

confidence: 99%

A Risk-Aware Approach to Digital Procurement Transformation

Dudić,

Vrhovac,

Vulanović

et al. 2024

Sustainability

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As the digital procurement transformation continues to evolve, it is crucial to adopt a risk-aware approach to ensure successful outcomes. This paper delves into the necessity of a risk-aware approach to digital procurement transformation, specifically focusing on the role of professional procurement management and the significance of supplier partnerships in the digital environment. The research aimed to examine the critical role of risk management in the digital transformation of procurement. A total of 318 respondents from Serbia participated in the study. The role of professional management in procurement must encompass risk management to guarantee success in digital procurement transformation. Furthermore, the study identified that adequate preparation, information, and training for individuals involved are crucial for a seamless transition to digital procurement. The digital transformation of procurement contributes to sustainability by enhancing efficiency, transparency, and collaboration across the supply chain, ultimately fostering environmentally conscious practices and responsible resource management. In summary, the research underscores the need for a comprehensive and risk-aware approach to digital procurement transformation, considering the pivotal roles of procurement professionals, supplier partnerships, and the integration of new technologies.

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Section: Literature Overviewmentioning

confidence: 99%

A Risk-Aware Approach to Digital Procurement Transformation

Dudić,

Vrhovac,

Vulanović

et al. 2024

Sustainability

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“…There are several risks threatening supply chains, which can be segmented into several categories. The first one is that of risks related to human resources that have a direct impact on supply chains, such as the lack of qualified personnel [24], labor disputes and conflicts [25], disasters within the plant [26], theft [27], language and culture problem [1].The second category of risk is that related to end-customer such as inaccurate or variable sales and demand forecasts [28] and uncertainty of supply and demand [29] we can also find the category of risks related to customs such as import and export restrictions and tariffs [30]. The fourth category of risks is that of engineering and process risks, such as the risks related to the capacity [30] and deteriorated production performance [31].The fifth category of risks is related to financial and economic risks, we can mention for example, the impact of inflation and exchange rate changes [32], bankruptcy and insolvency of the supplier [1], cash-flow disruptions [33].…”

Section: Literature Review Supply Chain Risk Management and Risk Iden...mentioning

confidence: 99%

A Decision Support Model for Mitigating Supply Chain Risks Based on a Modified FMEA, Multi-Objective Optimization and Multi-Criteria Decision-Making Approach

Kayouh,

Dkhissi

2024

Management Systems in Production Engineering

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Recent years have seen a huge development in the subject of supply chain risk management. In this increasingly uncertain world, the use of practical and effective tools for decision making and risk mitigation has become more necessary than ever. In this research, mitigation strategies for a tier one multinational company operating in the automotive industry and providing an assembly operation to final customer Renault Tanger and Renault SOMACA were prioritized according to their effectiveness, as well as their implementation costs. Based on research in the literature and the opinions of experts in the field. 44 risks and 55 mitigation strategies were identified. FMEA (Failure Modes and Effects Analysis) method was used based on the latest AIAG 2019 edition to filter and identify the risks to be prioritized, we used then a multi-objective optimization approach to identify the mitigation strategies that constitute the Pareto front for each of the risks and finally used the EDAS method for the final ranking of the strategies. Our case revealed that strategies like ensuring elaborating a contingency planning and defining the responsibilities, imposing contractual obligations on subcontractors, applying a flexible supply contract were found to be relevant risk mitigation strategies for the company. Managers interested in mitigating risk can deploy this model to prioritize risk mitigation strategies.

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“…Traditional supply chain challenges have a direct impact on the SCRes enablers (shown in Figure 3), which requires the supply chain to manage changes and reduce disruptions. Traditional supply chains faced issues such as uncertainty, rising costs, inaccuracy, and increased risks (Abdel-Basset et al, 2018;Adeseun et al, 2018). Engineering and Operations Management Manila, Philippines, March 7-9, 2023 © IEOM Society International Although the approaches to both concepts (IoT and supply chain resilience) differ.…”

Section: Iot and Supply Chain Resilience Enablersmentioning

confidence: 99%

Employing the Internet of Things to Attain Resilience Across Supply Chain

Al-Talib¹,

Melhem²,

Nadeem³

et al. 2023

Proceedings of the International Conference on Industrial Engineering and Operations Management

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Development in the field of IT and competition in the market forces companies to increase their market share and revenue. To satisfy this goal, companies can apply and adopt plans that may lead to making the supply chain (SC) lengthy and too rigid to control/monitor. The longer the SC the more it can be disrupted by expected and unexpected events (e.g., Digital security incidents, climate). For that purpose, the SC must be built in a way to respond fast to disruptive events in an effective way and to bounce back to its original state to be considered a resilient SC, which gives a competitive advantage to the companies.To achieve SC resilience, several studies have discussed enablers. Some of these studies, focused on increasing velocity through the SC, others argued that high adaptability leads to SC resilience, and others mentioned information sharing as a key to achieving SC resilience. In addition, applying technology in the SC processes can add strength. As such, the Internet of Things can support/enhance the level of Velocity, Adaptability, and Information sharing, which leads to enhancing SC resilience. This research explores the opportunities that IoT presents to enhance resilience enablers and boost SC resilience.

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Supply Chain Risk Perception: Understanding the Gap Between Theory and Practice

Cited by 14 publications

References 16 publications

A Risk-Aware Approach to Digital Procurement Transformation

A Risk-Aware Approach to Digital Procurement Transformation

A Decision Support Model for Mitigating Supply Chain Risks Based on a Modified FMEA, Multi-Objective Optimization and Multi-Criteria Decision-Making Approach

Employing the Internet of Things to Attain Resilience Across Supply Chain

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