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Strategic Approaches for Mitigating Supply Chain Risks

In: Managing Supply Chain Risk

Author

Listed:
  • ManMohan S. Sodhi

    (City University)

  • Christopher S. Tang

    (University of California, Los Angeles)

Abstract

While many companies recognize serious supply chain risks, they also acknowledge that their actions for managing these risks are not commensurable in part because they find it difficult to justify costly strategies for mitigating potential supply chain disruptions that have occurred rarely in the past and may not occur again in the foreseeable future. Hence, to encourage a firm to adopt supply chain risk mitigation, the supply chain strategies need to be “robust” in the following sense: These strategies should help to efficiently manage the “normal” risks or fluctuations inherent in matching supply and demand and should also help the supply chain become more resilient in the face of “abnormal” risks, i.e., disruptions. This chapter presents various robust supply chain mitigation strategies that many firms have adopted in managing their supply chain risks.

Suggested Citation

  • ManMohan S. Sodhi & Christopher S. Tang, 2012. "Strategic Approaches for Mitigating Supply Chain Risks," International Series in Operations Research & Management Science, in: Managing Supply Chain Risk, edition 127, chapter 0, pages 95-108, Springer.
    • Handle: RePEc:spr:isochp:978-1-4614-3238-8_7
    DOI: 10.1007/978-1-4614-3238-8_7
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    Citations

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    Cited by:

    1. Masoud Esmaeilikia & Behnam Fahimnia & Joeseph Sarkis & Kannan Govindan & Arun Kumar & John Mo, 2016. "Tactical supply chain planning models with inherent flexibility: definition and review," Annals of Operations Research, Springer, vol. 244(2), pages 407-427, September.
    2. Rajesh, R., 2017. "Technological capabilities and supply chain resilience of firms: A relational analysis using Total Interpretive Structural Modeling (TISM)," Technological Forecasting and Social Change, Elsevier, vol. 118(C), pages 161-169.
    3. Ramezani, Javaneh & Camarinha-Matos, Luis M., 2020. "Approaches for resilience and antifragility in collaborative business ecosystems," Technological Forecasting and Social Change, Elsevier, vol. 151(C).

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