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Risk Mapping: Ranking and Analysis of Selected, Key Risk in Supply Chains

Author

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  • Maria Richert

    (Akademia Górniczo–Hutnicza w Krakowie, ul. Gramatyka 10, 30-067 Kraków, Poland)

  • Marek Dudek

    (Akademia Górniczo–Hutnicza w Krakowie, ul. Gramatyka 10, 30-067 Kraków, Poland)

Abstract

This study aimed to analyze the impact of key causes of external and internal risk on supply chains. The basic and most probable causes of the risk are listed, based on literature research and interviews with representatives of the metal industry. The analysis was carried out by semiquantitative assessment using risk maps. The relationship between the probability of an event occurrence and its impact on supply chains was tested. The study postulates that key risk factors can be controlled through risk monitoring. Attention was drawn to the beneficial aspects of using risk maps that enable a comprehensive assessment of the situation. Both external and internal risks can cause turmoil and disruption of the supply chain. The findings suggest that external uncertainty and crises have the most direct impact on supply chain risk and are the most dangerous. The work presents the possibility of practical application of risk maps for risk assessment and monitoring. The presented approach to risk assessment complements the methodology of risk assessment and monitoring. Risk maps were used as a basic tool in assessing the impact of individual risks on supply chains. It has been found that supply chains are subject to high risk, which can be monitored through risk matrix procedures. The conducted analysis showed that critical risk areas in supply chains are external crises, environmental uncertainty, supply chain relationships, and manufacturing and the most dangerous risks in supply chains are related to external conditions beyond the control of the participants in the supply chain. The article fills a gap in research on risk monitoring in supply chains by focusing on selected, generalized measures related to industrial supply.

Suggested Citation

  • Maria Richert & Marek Dudek, 2023. "Risk Mapping: Ranking and Analysis of Selected, Key Risk in Supply Chains," JRFM, MDPI, vol. 16(2), pages 1-30, January.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2023:i:2:p:71-:d:1046575
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