Risk Management in Global Supply Chains

Dobroslav Mollov ()
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Dobroslav Mollov: University of National and World Economy, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2016, issue 4, 88-99

Abstract: Modern global supply chains operate in com­plex and dynamic international environment. They are exposed to a variety of factors giving rise to a number of risks for them. In the last two de­cades we have witnessed a significant increase in risk events causing damage to the global supply chains of many companies: natural disasters, ter­rorist attacks, military conflicts, economic crises, cyber-attacks, spreading computer viruses and others. This raises the need for effective risk man­agement in global supply chains as an essential condition for their long-term success. The article presents the essence of risk management in glob­al supply chains. Discussed are the main types of risks inherent in these chains. Provided is a pro­cess-oriented approach for risk management. Dis­cussed are the elements of a resilient supply chain and the strategies for risk mitigation. The article argues that effective risk management in today’s global supply chains requires a rethinking of tra­ditional methods and strategies and seeking new approaches to risk management in these chains.

Keywords: global supply chains; resilient supply chains; risk; global risks; risk management (search for similar items in EconPapers)
JEL-codes: D81 F23 M16 (search for similar items in EconPapers)
Date: 2016
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