A proactive approach to supply chain risk management: Shifting orders among suppliers to mitigate the supply side risks |
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| Institution: | 1. School of Business and Law, Edith Cowan University, 270 Joondalup Drive, Joondalup, Western Australia 6027;2. School of Business IT & Logistics, RMIT University, GPO Box 2476, Melbourne VIC 3001 Australia;3. Faculty of Management and Accounting, Islamic Azad University (IAU), Qazvin branch, Qazvin, 34185-1416, Iran;1. Industrial Engineering Department, Pennsylvania State University, The Behrend College, Erie, PA 16563, USA;2. Department of Systems Science and Industrial Engineering, State University of New York at Binghamton, Binghamton, NY 13902, USA;1. Universidade Federal Fluminense (UFF), 783 Desembargador Ellis Hermydio Figueira St Volta Redonda, Rio de Janeiro, 27213-145, Brazil;2. Sao Paulo State University (UNESP), 333 Ariberto Pereira da Cunha Av. Guaratingueta, São Paulo, 12516-410, Brazil;3. Universidade do Estado do Rio de Janeiro (UERJ), Rodovia Presidente Dutra Km 298 – Polo Industrial, Resende, Rio de Janeiro, 27537-000, Brazil;1. Dept. of Production Engineering, National Institute of Technology, Tiruchirappalli, Tamil Nadu, India;2. Department of Analytics and Operations, NUS Business School and The Logistics Institute-Asia Pacific, National University of Singapore, Singapore;1. School of Management, The State Key Lab for Manufacturing Systems Engineering, Key Lab of the Ministry of Education for Process Control& Efficiency Engineering, Xi’an Jiaotong University, No. 28, Xianning West Road, Xi’an 710049, PR China;2. Department of Systems Engineering and Engineering Management, City University of Hong Kong, Kowloon, Hong Kong;3. Department of Logistics and Maritime Studies, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong |
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| Abstract: | Globalization, e-trade, advanced technologies and emerging production techniques have increased supply chains’ efficiency and added value. However, despite numerous advantages, these factors make supply chains more fragile and vulnerable to risks. For this reason, companies that perform supply chain risk management gain competitive advantage. In the past, supply chain managers mainly focused on reducing costs; but recently, they have begun to give importance to supply chain continuity and resiliency which have significant impacts on costs as well. Hence, conventional reactive planning has given way to proactive planning in supply chain risk management. In this study, the supply chain risk management process is investigated and a procedure is proposed in the risk mitigation phase. In the first stage of the proposed procedure, an initial procurement plan is obtained via a linear programming model, considering the cost criterion as the first priority. In the second stage, this plan is revised by including the risk criterion into the planning as the second priority. The aim of this procedure that enables proactive planning is to reduce the supply side risks. The model is tested with a hypothetical data set and the cost analysis is performed to evaluate the performance of the procedure. Finally, the whole supply chain risk management process including the proposed procedure is applied to an international automotive company. |
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| Keywords: | Supply side risks Procurement planning Risk mitigation Linear programming Automotive industry |
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