A benchmarking approach for supply chain risk management

Abstract

Today, most of the supply chains are facing risks from multiple sources. These risks have negative impacts on different supply chain performances and are environment dependent. The supply chain managers should understand, analyse and develop an efficient strategy(s) to manage and mitigate the risks involved in their supply chains. Although few researches have been reported on supply chain risks in the literature, they are mostly industry specific. Different supply chain risk management frameworks available in literatures are discussed in detail. A generic supply chain risk management framework using a benchmarking approach is proposed and this proposed framework can serve as a road map to mitigate the supply chain risks.