The influence of sustainability risk management on supply chain sustainability and profitability of medical technology firms

The primary objective of this study is to determine how sustainability spending can help build sustainable supply chains. This study also assesses the sustainability of five firms with respect to four dimensions; profitability, sustainability spending, risk rating, and sustainability risk management. Data was collected through unstructured interviews with biotechnology and medical technology industry personnel. Key sustainability risk factors that created a ripple effect along the supply chain were identified. The supply chain surplus and risk management strategies were evaluated. Technique for order of preference by similarity to ideal solution (TOPSIS) was used to rank the firms on their sustainability and risk management practices. The critical sustainability risks identified are inventory management, logistics/transportation, waste management, energy consumption, supplier sustainability, material handling, and plant or facility management. Findings reveal that firms investing in sustainability risk management face better prospects of developing supply chain sustainability and profitability.