IDEAS home Printed from https://ideas.repec.org/h/zbw/hiclch/249642.html
   My bibliography  Save this book chapter

Simultaneous treatment of risk and resilience

In: Adapting to the Future: How Digitalization Shapes Sustainable Logistics and Resilient Supply Chain Management. Proceedings of the Hamburg International Conference of Logistics (HICL), Vol. 31

Author

Listed:
  • König, Sandra

Abstract

Purpose: Supply chain management has a clear focus on risk management, but recent developments have shown that it is also important to pay attention to resilience. This paper introduces a systematic approach to simultaneously treat the two correlated quantities and can incorporate various notations of risk and resilience. Methodology: A game theoretic model that allows simultaneous risk minimization and resilience maximation is proposed. Integration of existing supply chain risk and resilience measures is described to show its applicability. The intrinsic uncertainty of consequences of actions is explicitly taken into account by probabilistic payoffs. Findings: The model provides a set of actions that provide optimal protection, depending the weight put on risk vs. resilience (i.e., how much weight is put on which of the two goals). The problem of putting such theoretical results into practice is discussed and illustrated with an example. Originality: This work aims at improving existing best practice techniques to increase resilience by providing a systematic optimization method. It allows integration of existing resilience measures and is thus flexible to use.

Suggested Citation

  • König, Sandra, 2021. "Simultaneous treatment of risk and resilience," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Kersten, Wolfgang & Ringle, Christian M. & Blecker, Thorsten (ed.), Adapting to the Future: How Digitalization Shapes Sustainable Logistics and Resilient Supply Chain Management. Proceedings of the Hamburg Internationa, volume 31, pages 901-916, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
    • Handle: RePEc:zbw:hiclch:249642
    DOI: 10.15480/882.3973
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/249642/1/hicl-2021-31-901.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.15480/882.3973?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
    ---><---

    References listed on IDEAS

    as
    1. B. James Deaton & Brady J. Deaton, 2020. "Food security and Canada's agricultural system challenged by COVID‐19," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(2), pages 143-149, June.
    2. de Bruijn, Karin & Buurman, Joost & Mens, Marjolein & Dahm, Ruben & Klijn, Frans, 2017. "Resilience in practice: Five principles to enable societies to cope with extreme weather events," Environmental Science & Policy, Elsevier, vol. 70(C), pages 21-30.
    3. John R. Macdonald & Christopher W. Zobel & Steven A. Melnyk & Stanley E. Griffis, 2018. "Supply chain risk and resilience: theory building through structured experiments and simulation," International Journal of Production Research, Taylor & Francis Journals, vol. 56(12), pages 4337-4355, June.
    4. George Baryannis & Sahar Validi & Samir Dani & Grigoris Antoniou, 2019. "Supply chain risk management and artificial intelligence: state of the art and future research directions," International Journal of Production Research, Taylor & Francis Journals, vol. 57(7), pages 2179-2202, April.
    5. Heckmann, Iris & Comes, Tina & Nickel, Stefan, 2015. "A critical review on supply chain risk – Definition, measure and modeling," Omega, Elsevier, vol. 52(C), pages 119-132.
    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. Dmitry Ivanov, 2022. "Viable supply chain model: integrating agility, resilience and sustainability perspectives—lessons from and thinking beyond the COVID-19 pandemic," Annals of Operations Research, Springer, vol. 319(1), pages 1411-1431, December.
    2. Lydia Novoszel & Tina Wakolbinger, 2022. "Meta-analysis of Supply Chain Disruption Research," SN Operations Research Forum, Springer, vol. 3(1), pages 1-25, March.
    3. Evangelos Gkanatsas & Harold Krikke, 2020. "Towards a Pro-Silience Framework: A Literature Review on Quantitative Modelling of Resilient 3PL Supply Chain Network Designs," Sustainability, MDPI, vol. 12(10), pages 1-25, May.
    4. Chowdhury, Priyabrata & Paul, Sanjoy Kumar & Kaisar, Shahriar & Moktadir, Md. Abdul, 2021. "COVID-19 pandemic related supply chain studies: A systematic review," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 148(C).
    5. Neungho Han & Juneho Um, 2024. "Risk management strategy for supply chain sustainability and resilience capability," Risk Management, Palgrave Macmillan, vol. 26(2), pages 1-26, May.
    6. Rodríguez-Espíndola, Oscar & Chowdhury, Soumyadeb & Dey, Prasanta Kumar & Albores, Pavel & Emrouznejad, Ali, 2022. "Analysis of the adoption of emergent technologies for risk management in the era of digital manufacturing," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    7. Cecil Ash & Uday Venkatadri & Claver Diallo & Peter Vanberkel & Ahmed Saif, 2023. "PPE Supply Optimization Under Risks of Disruption from the COVID-19 Pandemic," SN Operations Research Forum, Springer, vol. 4(2), pages 1-29, June.
    8. Shu, Wenjun & Fan, Di, 2024. "How do firms perceive and react to extreme weather risk in their supply bases?," International Journal of Production Economics, Elsevier, vol. 268(C).
    9. Emilia Vann Yaroson & Soumyadeb Chowdhury & Sachin Kumar Mangla & Prasanta Kumar Dey, 2024. "Unearthing the interplay between organisational resources, knowledge and industry 4.0 analytical decision support tools to achieve sustainability and supply chain wellbeing," Annals of Operations Research, Springer, vol. 342(2), pages 1321-1368, November.
    10. 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.
    11. Matthias Klumpp & Dominic Loske, 2021. "Sustainability and Resilience Revisited: Impact of Information Technology Disruptions on Empirical Retail Logistics Efficiency," Sustainability, MDPI, vol. 13(10), pages 1-20, May.
    12. Gheorghe Cristian Popescu & Monica Popescu, 2022. "COVID-19 pandemic and agriculture in Romania: effects on agricultural systems, compliance with restrictions and relations with authorities," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 14(2), pages 557-567, April.
    13. Ben-Ammar, Oussama & Bettayeb, Belgacem & Dolgui, Alexandre, 2019. "Optimization of multi-period supply planning under stochastic lead times and a dynamic demand," International Journal of Production Economics, Elsevier, vol. 218(C), pages 106-117.
    14. Yang, Honglin & Zhuo, Wenyan & Shao, Lusheng & Talluri, Srinivas, 2021. "Mean-variance analysis of wholesale price contracts with a capital-constrained retailer: Trade credit financing vs. bank credit financing," European Journal of Operational Research, Elsevier, vol. 294(2), pages 525-542.
    15. 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.
    16. Li, Yongjian & Zhen, Xueping & Qi, Xiangtong & Cai, Gangshu (George), 2016. "Penalty and financial assistance in a supply chain with supply disruption," Omega, Elsevier, vol. 61(C), pages 167-181.
    17. Wang, Jiaxin & Zhao, Mu & Huang, Xiang & Song, Zilong & Sun, Di, 2024. "Supply chain diffusion mechanisms for AI applications: A perspective on audit pricing," International Review of Financial Analysis, Elsevier, vol. 93(C).
    18. Papanagnou, Christos & Seiler, Andreas & Spanaki, Konstantina & Papadopoulos, Thanos & Bourlakis, Michael, 2022. "Data-driven digital transformation for emergency situations: The case of the UK retail sector," International Journal of Production Economics, Elsevier, vol. 250(C).
    19. 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.
    20. Naimoli, Antonio, 2022. "Modelling the persistence of Covid-19 positivity rate in Italy," Socio-Economic Planning Sciences, Elsevier, vol. 82(PA).

    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:zbw:hiclch:249642. 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: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://hicl.org/ .

    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.