IDEAS home Printed from https://ideas.repec.org/a/spr/ijsaem/v15y2024i10d10.1007_s13198-024-02507-4.html
   My bibliography  Save this article

Risk assessment in sustainable supply chain: theoretical and managerial implications for circular economy in emerging economies

Author

Listed:
  • R. K. A. Bhalaji

    (Francis Xavier Engineering College)

  • S. Bathrinath

    (Kalasalingam Academy of Research and Education)

  • Syed Mithun Ali

    (Bangladesh University of Engineering and Technology)

  • K. Koppiahraj

    (SIMATS)

Abstract

In recent times, sustainable supply chain (SSC) management has received significant attention from academics and industries. Due to its complex nature, various risk sources are involved in SSCs. Thus, evaluation of risks in SSC becomes critical in enhancing the resilience and efficiency. Accordingly, this paper develops a framework for evaluating the most influential risks in an SSC using multi-criteria decision-making method. Using a data triangulation strategy, the study finalized 20 risks from the list of 25 risks. The finalized risks are evaluated and prioritized using multi-objective optimization ratio analysis technique. The findings show that the environmental supply chain is critical for SSC as it plays a key role in enhancing SSC performance. Based on the outcomes, the study suggests that the industries should prefer closed-loop supply chain practices rather than traditional linear supply chain practices. Also, the industries must incorporate 6R (Rethink, Refuse, Reduce, Reuse, Recycle, Repair) practices in the regular industrial activities. Furthermore, the findings help academics and industrial managers to achieve sustainability and circularity in supply chains.

Suggested Citation

  • R. K. A. Bhalaji & S. Bathrinath & Syed Mithun Ali & K. Koppiahraj, 2024. "Risk assessment in sustainable supply chain: theoretical and managerial implications for circular economy in emerging economies," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(10), pages 4966-4981, October.
    • Handle: RePEc:spr:ijsaem:v:15:y:2024:i:10:d:10.1007_s13198-024-02507-4
    DOI: 10.1007/s13198-024-02507-4
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13198-024-02507-4
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13198-024-02507-4?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. Marcus V. C. Fagundes & Bernd Hellingrath & Francisco G. M. Freires, 2021. "Supplier Selection Risk: A New Computer-Based Decision-Making System with Fuzzy Extended AHP," Logistics, MDPI, vol. 5(1), pages 1-17, March.
    2. Li, Gang & Fan, Huan & Lee, Peter K.C. & Cheng, T.C.E., 2015. "Joint supply chain risk management: An agency and collaboration perspective," International Journal of Production Economics, Elsevier, vol. 164(C), pages 83-94.
    3. Caiado, Rodrigo Goyannes Gusmão & Scavarda, Luiz Felipe & Gavião, Luiz Octávio & Ivson, Paulo & Nascimento, Daniel Luiz de Mattos & Garza-Reyes, Jose Arturo, 2021. "A fuzzy rule-based industry 4.0 maturity model for operations and supply chain management," International Journal of Production Economics, Elsevier, vol. 231(C).
    4. Sahitya Elluru & Hardik Gupta & Harpreet Kaur & Surya Prakash Singh, 2019. "Proactive and reactive models for disaster resilient supply chain," Annals of Operations Research, Springer, vol. 283(1), pages 199-224, December.
    5. Ilkka Ritola & Harold Krikke & Marjolein C.J. Caniëls, 2020. "Learning from Returned Products in a Closed Loop Supply Chain: A Systematic Literature Review," Logistics, MDPI, vol. 4(2), pages 1-13, April.
    6. Guneren Genc, Elif & Deniz Basar, Ozlem, 2019. "Comparison of Country Ratings of Credit Rating Agencies with MOORA Method," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 10(2), pages 391-404, April.
    7. Tobias Rebs & Marcus Brandenburg & Stefan Seuring & Margarita Stohler, 2018. "Stakeholder influences and risks in sustainable supply chain management: a comparison of qualitative and quantitative studies," Business Research, Springer;German Academic Association for Business Research, vol. 11(2), pages 197-237, September.
    8. Ehsan Shekarian & Behrang Ijadi & Amirreza Zare & Jukka Majava, 2022. "Sustainable Supply Chain Management: A Comprehensive Systematic Review of Industrial Practices," Sustainability, MDPI, vol. 14(13), pages 1-30, June.
    9. Qinghua Fu & Abdul Aziz Abdul Rahman & Hui Jiang & Jawad Abbas & Ubaldo Comite, 2022. "Sustainable Supply Chain and Business Performance: The Impact of Strategy, Network Design, Information Systems, and Organizational Structure," Sustainability, MDPI, vol. 14(3), pages 1-15, January.
    10. Tönnissen, Stefan & Teuteberg, Frank, 2020. "Analysing the impact of blockchain-technology for operations and supply chain management: An explanatory model drawn from multiple case studies," International Journal of Information Management, Elsevier, vol. 52(C).
    11. Sirish Kumar Gouda & Haritha Saranga, 2018. "Sustainable supply chains for supply chain sustainability: impact of sustainability efforts on supply chain risk," International Journal of Production Research, Taylor & Francis Journals, vol. 56(17), pages 5820-5835, September.
    12. Qazi, Abroon & Quigley, John & Dickson, Alex & Ekici, Şule Önsel, 2017. "Exploring dependency based probabilistic supply chain risk measures for prioritising interdependent risks and strategies," European Journal of Operational Research, Elsevier, vol. 259(1), pages 189-204.
    13. Centobelli, Piera & Cerchione, Roberto & Esposito, Emilio & Passaro, Renato & Shashi,, 2021. "Determinants of the transition towards circular economy in SMEs: A sustainable supply chain management perspective," International Journal of Production Economics, Elsevier, vol. 242(C).
    Full references (including those not matched with items on IDEAS)

    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. Zhong, Ziqi & Zhao, Elena Yifei, 2024. "Collaborative driving mode of sustainable marketing and supply chain management supported by metaverse technology," LSE Research Online Documents on Economics 121160, London School of Economics and Political Science, LSE Library.
    2. Manavalan Ethirajan & Thanigai Arasu M & Jayakrishna Kandasamy & Vimal K.E.K & Simon Peter Nadeem & Anil Kumar, 2021. "Analysing the risks of adopting circular economy initiatives in manufacturing supply chains," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 204-236, January.
    3. Chih-Hung Hsu & Ru-Yue Yu & An-Yuan Chang & Wan-Ling Liu & An-Ching Sun, 2022. "Applying Integrated QFD-MCDM Approach to Strengthen Supply Chain Agility for Mitigating Sustainable Risks," Mathematics, MDPI, vol. 10(4), pages 1-41, February.
    4. Jochen Wulf, 2020. "Development of an AHP hierarchy for managing omnichannel capabilities: a design science research approach," Business Research, Springer;German Academic Association for Business Research, vol. 13(1), pages 39-68, April.
    5. Ali Zackery & Joseph Amankwah-Amoah & Zahra Heidari Darani & Shiva Ghasemi, 2022. "COVID-19 Research in Business and Management: A Review and Future Research Agenda," Sustainability, MDPI, vol. 14(16), pages 1-32, August.
    6. Pasura Aungkulanon & Walailak Atthirawong & Pongchanun Luangpaiboon & Wirachchaya Chanpuypetch, 2024. "Navigating Supply Chain Resilience: A Hybrid Approach to Agri-Food Supplier Selection," Mathematics, MDPI, vol. 12(10), pages 1-42, May.
    7. Jianwen Zhang & Jacob Cherian & Yawar Abbas Sandhu & Jawad Abbas & Laura Mariana Cismas & Constantin Viorel Negrut & Lucia Negrut, 2022. "Presumption of Green Electronic Appliances Purchase Intention: The Mediating Role of Personal Moral Norms," Sustainability, MDPI, vol. 14(8), pages 1-15, April.
    8. Zhao, Na, 2019. "Managing interactive collaborative mega project supply chains under infectious risks," International Journal of Production Economics, Elsevier, vol. 218(C), pages 275-286.
    9. Qazi, Abroon & Dickson, Alex & Quigley, John & Gaudenzi, Barbara, 2018. "Supply chain risk network management: A Bayesian belief network and expected utility based approach for managing supply chain risks," International Journal of Production Economics, Elsevier, vol. 196(C), pages 24-42.
    10. Hannan Amoozad Mahdiraji & Aliasghar Abbasi Kamardi & Moein Beheshti & Seyed Hossein Razavi Hajiagha & Luis Rocha-Lona, 2022. "Analysing supply chain coordination mechanisms dealing with repurposing challenges during Covid-19 pandemic in an emerging economy: a multi-layer decision making approach," Operations Management Research, Springer, vol. 15(3), pages 1341-1360, December.
    11. Marcela Marçal Alves Pinto & João Luiz Kovaleski & Rui Tadashi Yoshino & Regina Negri Pagani, 2019. "Knowledge and Technology Transfer Influencing the Process of Innovation in Green Supply Chain Management: A Multicriteria Model Based on the DEMATEL Method," Sustainability, MDPI, vol. 11(12), pages 1-33, June.
    12. Antonio Zavala-Alcívar & María-José Verdecho & Juan-José Alfaro-Saiz, 2020. "A Conceptual Framework to Manage Resilience and Increase Sustainability in the Supply Chain," Sustainability, MDPI, vol. 12(16), pages 1-38, August.
    13. Shalini Sharma & Bhupendra Kumar Pathak & Rajiv Kumar, 2024. "Multi-objective Service Composition Optimization in Smart Agriculture Using Fuzzy-Evolutionary Algorithm," SN Operations Research Forum, Springer, vol. 5(2), pages 1-24, June.
    14. Ahmad, Farhan & Bask, Anu & Laari, Sini & Robinson, Craig V., 2023. "Business management perspectives on the circular economy: Present state and future directions," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    15. Bueno, Adauto & Goyannes Gusmão Caiado, Rodrigo & Guedes de Oliveira, Thaís Lopes & Scavarda, Luiz Felipe & Filho, Moacir Godinho & Tortorella, Guilherme Luz, 2023. "Lean 4.0 implementation framework: Proposition using a multi-method research approach," International Journal of Production Economics, Elsevier, vol. 264(C).
    16. Guilian Wang & Liyan Zhang & Jing Guo, 2022. "Driving Factors and Mechanisms of AMT Application Levels for Equipment Manufacturing Enterprises: Based on Programmatic Grounded Theory," Sustainability, MDPI, vol. 14(14), pages 1-18, July.
    17. Majid Azadi & Zohreh Moghaddas & Reza Farzipoor Saen & Angappa Gunasekaran & Sachin Kumar Mangla & Alessio Ishizaka, 2023. "Using network data envelopment analysis to assess the sustainability and resilience of healthcare supply chains in response to the COVID-19 pandemic," Annals of Operations Research, Springer, vol. 328(1), pages 107-150, September.
    18. Yanting Huang & Benrong Zheng & Zongjun Wang, 2023. "Supplier–remanufacturing and manufacturer–remanufacturing in a closed-loop supply chain with remanufacturing cost disruption," Annals of Operations Research, Springer, vol. 324(1), pages 61-92, May.
    19. Kalpina Kumari & Jawad Abbas & Jinsoo Hwang & Lucian Ionel Cioca, 2022. "Does Servant Leadership Promote Emotional Intelligence and Organizational Citizenship Behavior among Employees? A Structural Analysis," Sustainability, MDPI, vol. 14(9), pages 1-18, April.
    20. Müller, Daniel & Nagi, Ayman & Schröder, Meike, 2022. "Supply chain risk management in crisis situations," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Kersten, Wolfgang & Jahn, Carlos & Blecker, Thorsten & Ringle, Christian M. (ed.), Changing Tides: The New Role of Resilience and Sustainability in Logistics and Supply Chain Management – Innovative Approaches for the Shift to a New , volume 33, pages 439-468, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.

    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:spr:ijsaem:v:15:y:2024:i:10:d:10.1007_s13198-024-02507-4. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.