Risk Issues

Chung Lai Johnny Wan and Yulan Wang
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Chung Lai Johnny Wan: University of Wales Trinity Saint David
Yulan Wang: The Hong Kong Polytechnic University

Chapter 10 in International Operations Management: Concepts and Applications, 2025, pp 169-178 from Springer

Abstract: Abstract Chapter 10 focuses on risk management, covering four topics: sources of risks, impacts of supply chain disruptions, strategies to reduce supply chain disruption risks, and strategies to mitigate pandemic-related risks in global supply chains. Risks can arise from internal or external factors, often lead to disruptions that increase costs and lower customer service, and adversely affect revenue and stakeholder value. To mitigate these risks, a supply chain can improve visibility and forecasting to prevent disruptions or implement quick response and decentralization strategies to minimize their impact. The concepts of time-to-recover, time-to-survive, and risk-exposure index, adopted by Ford, are introduced. The COVID-19 pandemic has served as a wake-up call for supply chain decision-makers to pay closer attention to pandemic-related risks. Besides traditional mitigation strategies, businesses can strengthen resilience by streamlining product differentiation and increasing flexibility through process innovations and emerging technologies.

Date: 2025
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DOI: 10.1007/978-981-96-6665-2_10

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