Development of futuristic supply chain risk management pilot strategies for achieving loss reduction in manufacturing organisations

Abstract

Manufacturing organisations are expected to produce their products with prompt delivery using better supply chain activities. Starting from the procurement of raw materials to the delivery of final products, there are inevitable losses occurring due to major time delays in supply chain activities. Hence it is essential to study, understand and track these major time delays by developing futuristic supply chain risk management strategies. This paper reports a research which was conducted to meet this requirement. During this research, major time delays were investigated by conducting a questionnaire supported interview based survey in 15 manufacturing organisations. On analysing the responses, pilot strategies for achieving loss reduction have been proposed. The paper is concluded by pointed out the necessity for developing dynamic models for achieving loss reduction and continuous improvement.