IDEAS home Printed from https://ideas.repec.org/a/eee/proeco/v222y2020ics0925527319303160.html
   My bibliography  Save this article

Identification and ranking of the risk factors involved in PLM implementation

Author

Listed:
  • Singh, Shikha
  • Chandra Misra, Subhas
  • Kumar, Sameer

Abstract

Risk is a threat to every activity or system due to uncertainty with each component. Uncertainty of a system rises as the number of components increases. While uncertain risk elements cannot be assessed deterministically, a probability measurement helps an organization to combat those threats. Introduction of the Product Lifecycle Management (PLM) concept in an organization has the potential to offer substantial benefits. However, there are multiple risks in implementing PLM systems, and adequate care must be taken during PLM initiatives to get the desired benefits. If there are lacunae in the management of a PLM initiative, the whole purpose of adopting PLM may be lost partially or totally. The risk assessment of PLM systems’ implementation is performed by employing integrated grey DANP (DEMATEL-based ANP) and grey TOPSIS techniques for the first time. By considering the category and attribute of each risk factor, this integrated model reveals the critical risk factors: an inappropriate choice of a PLM system, mismatch in required data formats, and inefficient resource estimation.

Suggested Citation

  • Singh, Shikha & Chandra Misra, Subhas & Kumar, Sameer, 2020. "Identification and ranking of the risk factors involved in PLM implementation," International Journal of Production Economics, Elsevier, vol. 222(C).
    • Handle: RePEc:eee:proeco:v:222:y:2020:i:c:s0925527319303160
    DOI: 10.1016/j.ijpe.2019.09.017
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0925527319303160
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ijpe.2019.09.017?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Chemweno, Peter & Pintelon, Liliane & Van Horenbeek, Adriaan & Muchiri, Peter, 2015. "Development of a risk assessment selection methodology for asset maintenance decision making: An analytic network process (ANP) approach," International Journal of Production Economics, Elsevier, vol. 170(PB), pages 663-676.
    2. Paulo Sergio Gonçalves de Oliveira & Dirceu da Silva & Luciano Ferreira da Silva & Meire dos Santos Lopes & AndréLuis Helleno, 2016. "Factors that influence product life cycle management to develop greener products in the mechanical industry," International Journal of Production Research, Taylor & Francis Journals, vol. 54(15), pages 4547-4567, August.
    3. Anna Corinna Cagliano & Sabrina Grimaldi & Carlo Rafele, 2015. "Choosing project risk management techniques. A theoretical framework," Journal of Risk Research, Taylor & Francis Journals, vol. 18(2), pages 232-248, February.
    4. Büyüközkan, Gülçin & Güleryüz, Sezin & Karpak, Birsen, 2017. "A new combined IF-DEMATEL and IF-ANP approach for CRM partner evaluation," International Journal of Production Economics, Elsevier, vol. 191(C), pages 194-206.
    5. Marly Monteiro de Carvalho & Roque Rabechini Junior, 2015. "Impact of risk management on project performance: the importance of soft skills," International Journal of Production Research, Taylor & Francis Journals, vol. 53(2), pages 321-340, January.
    6. Bai, Chunguang & Sarkis, Joseph, 2013. "A grey-based DEMATEL model for evaluating business process management critical success factors," International Journal of Production Economics, Elsevier, vol. 146(1), pages 281-292.
    7. Wu, Cheng-Shiung & Lin, Chin-Tsai & Lee, Chuan, 2010. "Optimal marketing strategy: A decision-making with ANP and TOPSIS," International Journal of Production Economics, Elsevier, vol. 127(1), pages 190-196, September.
    8. Antti Saaksvuori & Anselmi Immonen, 2008. "Product Lifecycle Management," Springer Books, Springer, number 978-3-540-78172-1, July.
    9. Chiang, Tzu-An & Trappey, Amy J.C., 2007. "Development of value chain collaborative model for product lifecycle management and its LCD industry adoption," International Journal of Production Economics, Elsevier, vol. 109(1-2), pages 90-104, September.
    10. Hashemi, Seyed Hamid & Karimi, Amir & Tavana, Madjid, 2015. "An integrated green supplier selection approach with analytic network process and improved Grey relational analysis," International Journal of Production Economics, Elsevier, vol. 159(C), pages 178-191.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chin-Cheng Yang & Chih-Chien Shen & Yu-Sheng Lin & Huai-Wei Lo & Jia-Zhi Wu, 2021. "Sustainable Sports Tourism Performance Assessment Using Grey-Based Hybrid Model," Sustainability, MDPI, vol. 13(8), pages 1-24, April.
    2. Priom Mahmud & Sanjoy Kumar Paul & Abdullahil Azeem & Priyabrata Chowdhury, 2021. "Evaluating Supply Chain Collaboration Barriers in Small- and Medium-Sized Enterprises," Sustainability, MDPI, vol. 13(13), pages 1-28, July.
    3. Mubashir Hayat & Herwig Winkler, 2022. "An Analytic Hierarchy Process for Selection of Blockchain-Based Platform for Product Lifecycle Management," Sustainability, MDPI, vol. 14(21), pages 1-20, October.
    4. Tsai, Pei-Hsuan & Wang, Ying-Wei & Yeh, Hsin-Jang, 2021. "An evaluation model for the development of more humane correctional institutions: Evidence from Penghu Prison," Evaluation and Program Planning, Elsevier, vol. 89(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kheybari, Siamak & Rezaie, Fariba Mahdi & Farazmand, Hadis, 2020. "Analytic network process: An overview of applications," Applied Mathematics and Computation, Elsevier, vol. 367(C).
    2. Tolonen, Arto & Shahmarichatghieh, Marzieh & Harkonen, Janne & Haapasalo, Harri, 2015. "Product portfolio management – Targets and key performance indicators for product portfolio renewal over life cycle," International Journal of Production Economics, Elsevier, vol. 170(PB), pages 468-477.
    3. Tuncay Ozcan & Fatih Tuysuz, 2016. "Modified Grey Relational Analysis Integrated with Grey Dematel Approach for the Performance Evaluation of Retail Stores," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 15(02), pages 353-386, March.
    4. Saad Muslet Albogami & Mohd Khairol Anuar Bin Mohd Ariffin & Eris Elianddy Bin Supeni & Kamarul Arifin Ahmad, 2021. "A New Hybrid AHP and Dempster—Shafer Theory of Evidence Method for Project Risk Assessment Problem," Mathematics, MDPI, vol. 9(24), pages 1-30, December.
    5. Faghih-Roohi, Shahrzad & Akcay, Alp & Zhang, Yingqian & Shekarian, Ehsan & de Jong, Eelco, 2020. "A group risk assessment approach for the selection of pharmaceutical product shipping lanes," International Journal of Production Economics, Elsevier, vol. 229(C).
    6. Xiongyong Zhou & Zhiduan Xu, 2018. "An Integrated Sustainable Supplier Selection Approach Based on Hybrid Information Aggregation," Sustainability, MDPI, vol. 10(7), pages 1-49, July.
    7. Kannan Govindan & Aditi & Jyoti Dhingra Darbari & Arshia Kaul & PC Jha, 2021. "Structural model for analysis of key performance indicators for sustainable manufacturer–supplier collaboration: A grey‐decision‐making trial and evaluation laboratory‐based approach," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 1702-1722, May.
    8. Amin Mahmoudi & Xiaopeng Deng & Saad Ahmed Javed & Na Zhang, 2021. "Sustainable Supplier Selection in Megaprojects: Grey Ordinal Priority Approach," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 318-339, January.
    9. Abbas Bonyani & Moslem Alimohammadlou, 2021. "A novel approach to solve the problems with network structure," Operational Research, Springer, vol. 21(2), pages 1279-1297, June.
    10. Guido C. Guerrero-Liquet & Santiago Oviedo-Casado & J. M. Sánchez-Lozano & M. Socorro García-Cascales & Javier Prior & Antonio Urbina, 2018. "Determination of the Optimal Size of Photovoltaic Systems by Using Multi-Criteria Decision-Making Methods," Sustainability, MDPI, vol. 10(12), pages 1-18, December.
    11. James J. H. Liou & Perry C. Y. Liu & Huai-Wei Lo, 2020. "A Failure Mode Assessment Model Based on Neutrosophic Logic for Switched-Mode Power Supply Risk Analysis," Mathematics, MDPI, vol. 8(12), pages 1-19, December.
    12. Jurczuk Arkadiusz, 2021. "Barriers to implementation of business process governance mechanisms," Engineering Management in Production and Services, Sciendo, vol. 13(4), pages 22-38, December.
    13. Davis-Sramek, Beth & Robinson, Jessica L. & Darby, Jessica L. & Thomas, Rodney W., 2020. "Exploring the differential roles of environmental and social sustainability in carrier selection decisions," International Journal of Production Economics, Elsevier, vol. 227(C).
    14. Syed Imran Zaman & Sharfuddin Ahmed Khan & Sahar Qabool & Himanshu Gupta, 2023. "How digitalization in banking improve service supply chain resilience of e-commerce sector? a technological adoption model approach," Operations Management Research, Springer, vol. 16(2), pages 904-930, June.
    15. Seppo Kuula & Harri Haapasalo & Arto Tolonen, 2018. "Cost-efficient co-creation of knowledge intensive business services," Service Business, Springer;Pan-Pacific Business Association, vol. 12(4), pages 779-808, December.
    16. Serhat Yuksel & Hasan Dincer & Senol Emir, 2017. "Comparing the performance of Turkish deposit banks by using DEMATEL, Grey Relational Analysis (GRA) and MOORA approaches," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 3(2), pages 26-47, December.
    17. Surajit Bag & Shivam Gupta, 2017. "Antecedents of Sustainable Innovation in Supplier Networks: A South African Experience," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 18(3), pages 231-250, September.
    18. Dengsheng Wu & Xiaoqian Zhu & Jie Wan & Chunbing Bao & Jianping Li, 2019. "A Multiobjective Optimization Approach for Selecting Risk Response Strategies of Software Project: From the Perspective of Risk Correlations," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(01), pages 339-364, January.
    19. Eleonora Bottani & Piera Centobelli & Teresa Murino & Ehsan Shekarian, 2018. "A QFD-ANP Method for Supplier Selection with Benefits, Opportunities, Costs and Risks Considerations," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 17(03), pages 911-939, May.
    20. František Freiberg & David Michálek & Marek Nemec & Miroslav Žilka & George Cristian Gruia, 2011. "Survey Regarding The Level Of Product Lifecycle Management In Manufacturing Companies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 116-120, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:222:y:2020:i:c:s0925527319303160. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ijpe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.