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Developing a Supply Chain Stress Test

In: Supply Chain Risk Mitigation

Author

Listed:
  • Lan Luo

    (University of Hartford)

  • Charles L. Munson

    (Washington State University)

Abstract

Borrowing a concept from the financial sector, we propose an approach to developing a “stress test” to determine the ability of a given supply chain to deal with crises under extreme, but plausible, scenarios. Managers can use such a tool to assess the risk impacts of their respective supply chains. Using predictive global sensitivity analysis, we develop a single predictive structural equation that managers can use to estimate the percentage loss given a disruption scenario. Based on the estimation, managers can further categorize their current supply chains into five risk levels. The single structural equation allows managers to re-evaluate the chain promptly as conditions change. Managerial insights are observed from the proposed equation that can help mitigate the risk of a supply chain.

Suggested Citation

  • Lan Luo & Charles L. Munson, 2022. "Developing a Supply Chain Stress Test," International Series in Operations Research & Management Science, in: Yacob Khojasteh & Henry Xu & Saeed Zolfaghari (ed.), Supply Chain Risk Mitigation, pages 61-80, Springer.
    • Handle: RePEc:spr:isochp:978-3-031-09183-4_3
    DOI: 10.1007/978-3-031-09183-4_3
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