Assessment of global supply chain risk and mitigation strategies

Abstract

This studies paper presents a comprehensive examination of global supply chain risk management, critical for navigating cutting-edge interconnected enterprise panorama. It explores diverse participants to deliver chain vulnerabilities, together with natural disasters, political instability, and economic fluctuations, highlighting the necessity for proactive chance mitigation techniques. Leveraging insights from scholarly literature and case research, the research underscores the importance of thorough understanding and evaluation of worldwide deliver chain dangers. It advocates for the adoption of progressive methodologies such as fuzzy common sense and Bayesian Belief Networks to beautify threat evaluation practices and prioritize mitigation efforts successfully. Moreover, the paper emphasizes the pivotal role of top management aid, strategic collaboration, and technological advancements in mitigating supply chain disruptions. Through the synthesis of various perspectives and strategies, the research advocates for a holistic technique to mitigate worldwide deliver chain dangers, making sure organizational resilience and sustainability. It underscores the necessity for continuous tracking, edition, and investment in chance management frameworks to navigate uncertainties and keep a competitive gain in an ever-evolving commercial enterprise surroundings. By offering practical insights and actionable tips, this paper equips groups with the expertise and gear essential to support their supply chains against disruptions, thereby improving operational performance and fostering long-time period achievement within the worldwide market. Keywords Supply chain risk management, Global supply chain,Risk mitigation strategies,Disruptions,Resilience