Predicting and managing supply chain risks

Francesco Lucchetta
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Francesco Lucchetta: Group Sourcing Leader, Switzerland

Journal of Supply Chain Management, Logistics and Procurement, 2023, vol. 5, issue 2, 131-141

Abstract: In recent years, we have seen how the supply chains of all companies around the world can be challenged by events of varying nature and magnitude. The prevention of these events, and the risks associated with them, is crucial not only for the continuity of a business but also for its survival. The objective of this paper is to provide clear guidance on how to identify and predict supply chain risks and avoid or greatly limit their impact on the value chain of companies. Approaching the subject in a typical 3D manner (discover, develop, deploy), the text aims to provide a toolkit that can be readily applied, especially for companies of production and supply of goods, and easily customised to the specific needs that each enterprise normally has. The paper explains how to create a process for recognising and identifying risks that may affect an organisation; how to prioritise them by quantifying each risk by magnitude and likelihood of occurrence; how to mitigate them through targeted actions for each type of risk; and how to create a risk-sensitive working environment and anticipate its prediction and detection.

Keywords: supply chain; risk management; risk mitigation; contingency plan; COVID-19; Ukraine war; black swan (search for similar items in EconPapers)
JEL-codes: L23 M11 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jscm00:y:2023:v:5:i:2:p:131-141

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