Analysis on supply chain risks in Indian apparel retail chains and proposal of risk prioritization model using Interpretive structural modeling
Snehal Rathi and
Journal of Retailing and Consumer Services, 2015, vol. 26, issue C, 153-167
Indian apparel retail industry is on a complete transformation journey and trying to evolve as an organized industry. It is very common to find the disruption factors in every business and the ways to mitigate and manage them is of current research interest. The paper discusses the selective risks associated with the apparel retail supply chains in India by structural analysis of the controllable risks that are identified. The work also reveals the use of Interpretative Structural Modeling (ISM) to establish the interdependencies between these risks spread across various supply chain functions of retail industry. The relationships are established based on expert opinions using Delphi technique followed by ISM modeling technique and Fuzzy MICMAC analysis. It also classifies the risk factors based on their driving and dependence power. ISM is proved to be a useful tool to help understand the impact of risks at stages of retail supply chain. Globalization, labor issues and security and safety of resources turns out to be the strong drivers of other supply chain uncertainties. The domino effect of these risks leads to financial crises for the organization.
Keywords: ISM; Fuzzy MICMAC; Retail risks; Supply chain risk; Prioritization; Risk assessment; Risk Priority Number (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joreco:v:26:y:2015:i:c:p:153-167
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