A 3-Dimensional Frame of Reference for Prevention of Risk in Supply Chain

Han-Khanh Nguyen
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Han-Khanh Nguyen: Faculty of Economics, Thu Dau Mot University, Thu Dau Mot 590000, Vietnam

JRFM, 2022, vol. 15, issue 3, 1-22

Abstract: Businesses have to deal with many potential risks in the supply chain, especially during the COVID-19 pandemic. The retail market in Vietnam has great potential for long-term development with the birth and rapid development of domestic supermarkets. However, market opening policies have resulted in fierce competition from a large number of foreign supermarkets. At the same time, customers have become more professional in their approach to shopping and carefully consider any decisions about shopping and the use of services at supermarkets. In this study, the authors use three models (i.e., the SERVQUAL model, the binary logistic model, and the Grey model) corresponding to a three-dimensional frame of reference (i.e., past, present, and future) to provide supermarket managers with a multi-dimensional view of the supermarket business situation. The results identify four factors−namely, quality of goods, personnel, safety, and facilities and equipment−that significantly impact customer satisfaction. The second frame of reference shows that factors such as age, academic level, and income affect the decision to reuse any service at the supermarket. The third frame of reference provides supermarket managers with forecast data about the supermarket business situation for 2021 to 2024. These results provide a solid foundation for supermarket managers seeking to develop strategies and take measures to adjust business activities to achieve the best business efficiency and avoid potential risks in the company’s supply chain. In addition, the results of this study are valuable references for researchers in the fields of customer service, supply chain management, and customer behavior. In particular, the factors obtained in this study will greatly strengthen the scientific value of the service sector and the model of retail supermarkets in Vietnam and other countries around the world. In fact, the business strategy of supermarkets still depends on the spread of COVID-19. Therefore, in the future, it is necessary to combine the results of this study with the experience of managers to develop the right business strategies and achieve further results and sustainable development.

Keywords: risk management; corporate strategy; business efficiency; service quality (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2022
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