Supply Chain Risk Assessment Tools and Techniques in the Automobile Industry: A Survey

Abstract

The importance of managing risk beyond the boundaries of a firm is widely recognized, and the new concept, Supply Chain Risk Management (SCRM) has attracted the attention of practitioners and academicians across the globe. Supply chain risk assessment is a critical step in SCRM. Companies use different tools and techniques for risk assessment in supply chain. The purpose of this paper is to investigate SCRM practices and identify the tools and techniques used by the Indian automobile companies. A survey was carried out to address the above-mentioned research questions. The results showed that SCM managers rely on still checklist, likelihood/impact matrix and scenario analysis. Supply chain risk assessment practices can be improved by using techniques like Failure Mode Effect Analysis (FMEA), simulations and others like HaZop.