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Risk Management in Supply Chains

In: Management Accounting in Supply Chains

Author

Listed:
  • Andreas Taschner

    (Hochschule Reutlingen)

  • Michel Charifzadeh

    (Hochschule Reutlingen)

Abstract

This chapter addresses the importance of risk management in supply chains. The Ever Given incident, outlined in our chapter-opening case, highlights the importance of risk management in supply chains. Risk is defined as a (negative) deviation from a set target due to unforeseen developments or events. Risk management is the process of systematically identifying, analyzing, and responding to risks in an organization. Risk management is pivotal in supply chains, and management accounting is often involved by providing information on risks. Potential risk responses can include adapting the supply chain design (such as switching to a multiple sourcing strategy) or adding buffers and redundancies. In most cases, a collaborative approach involving the partners in the supply chain will be most effective in reducing the overall vulnerability of the entire supply chain.

Suggested Citation

  • Andreas Taschner & Michel Charifzadeh, 2023. "Risk Management in Supply Chains," Springer Books, in: Management Accounting in Supply Chains, edition 2, chapter 7, pages 167-207, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-41300-2_7
    DOI: 10.1007/978-3-658-41300-2_7
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