Supply Chain Risk Modeling: An Examination of Influencing Factors and Risk Management Strategies
Keywords:
supply chain risk, risk management, FMEA, SWARA, resilience, risk prioritization, information technologyAbstract
Supply chains in today’s business environment face numerous complexities and uncertainties that can substantially affect organizational performance and resilience. This study aimed to identify, assess, and prioritize supply chain risks using Failure Mode and Effects Analysis (FMEA) indicators and to determine the weights of these indicators through the Step-wise Weight Assessment Ratio Analysis (SWARA) method. In this study, 22 major risks were identified across five categories: supplier risks, production and operational risks, logistics and transportation risks, environmental and external risks, and technological and information risks. Data were collected from 15 supply chain experts. The results indicated that raw material shortages, delivery delays, dependence on specific suppliers, and global crises were the most influential risks affecting supply chain performance. The findings highlight the importance of resource management, delivery scheduling, supplier diversification, and the adoption of emerging technologies to mitigate risks and enhance supply chain transparency and resilience. Furthermore, the weighted prioritization of risks enables managers to allocate resources optimally and focus on the most critical threats. The results of this study can support organizations in making strategic and operational decisions when confronting uncertainty and crises.
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Copyright (c) 2024 Meisam Karami (Author); Hamid Bouraghi
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
