Dominant Risks and Risk Management Practices in Supply Chains

This study explores the strategic integration of risk management and Human Resources (HR) practices within the context of supply chain management, aiming to identify how such integration enhances organizational resilience and sustainability. Employing a systematic literature review and content analysis, the study examines scholarly articles from key databases, focusing on the period from January 2000 to the present. The methodology involves a comprehensive search strategy, stringent inclusion and exclusion criteria, and a detailed selection process to distill insights from relevant literature. Key findings reveal that strategic HR practices, such as talent management, leadership development, and fostering a risk-aware culture, significantly contribute to mitigating supply chain risks and bolstering resilience. Furthermore, the study highlights the pivotal role of technological advancements, including artificial intelligence, blockchain, and the Internet of Things, in supporting the dynamic integration of risk management and HR practices. This integration not only addresses operational efficiencies but also aligns with strategic objectives towards sustainability and adaptability in the face of global disruptions. The study concludes that the strategic importance of integrating risk management with HR practices cannot be overstated, emphasizing its necessity for building agile, resilient, and sustainable supply chains. As organizations navigate the complexities of modern supply chains, this integrated approach offers a pathway to not only survive but thrive amid uncertainties, underscoring a blueprint for sustainable competitive advantage in evolving global markets. This review contributes to the existing body of knowledge by providing a comprehensive overview of current practices and future directions for integrating risk management and HR practices in supply chain management.

Supply Chain Management plays an indispensable role in any organization’s overall performance and success. The domain of Supply Chain Management has been of great research interest in recent years. In the ever-growing healthcare world, where most healthcare organizations are confronted with diverse SCM risks and growing customer demand trends, effective and efficient SCM has been identified as a tool to help them overcome this challenge. However, the main hurdle had been how to find innovative approaches to meet customer demands that will minimize operational costs. To address these concerns and deliver effective and efficient healthcare, the Government of Ghana represented by the Ministry of Health (MOH) and Ghana Health Service (GHS) in partnership with the Global Fund, GAVI, and the World Bank have deployed several interventions fundamentally founded on procurement and supply chain management to improve healthcare service delivery across the country. The interventions: Health commodity supply chain master plan (HCSCMP), the Last Mile Distribution (LMD), and the Ghana Integrated Logistics Management Information System (GhiLMIS), focus mainly on procurement, inventory, warehousing, and transportation of medical and non-medical products. The success and sustenance of these collaborative interventions in Supply Chain management within the health sector in Ghana hinges on key elements such as putting in place stringent procurement policies, ensuring availability of qualified personnel, transportation facilities to aid effective and efficient distribution, and paying attention to risk management practices. This study sought to examine the supply chain risk management practices at the central level of GHS and its regional and districts medical stores to identify the challenges of the existing SCM system and propose measures of addressing these challenges. The scope of the study was limited to the Ghana Health Service Supply Chain Practitioners (GHSSCP) at the central level and their collaborators at the regional levels (the Regional Health Directorates). Quantitative method was used in the study and the main research instrument used for the study was questionnaire administration. However, the study used convenience and purposive sampling techniques due to the sensitive nature of the subject matter. The target respondents were mainly Supply Chain Practitioners: supplies managers, procurement officers, general stores and pharmacy stores officers. The study relied on SPSS and used descriptive and inferential statistics to analyze data. The study found that notwithstanding the introduction of key interventions such as health commodity supply chain master plan (HCSCMP), the Last Mile Distribution (LMD) of health commodities from the Central level to Regional medical stores and to health facilities (Hospitals and the District Health Directorates), and the introduction of the Ghana Integrated Logistics Management Information System (GhiLMIS) as a technology tool for health commodity management at all levels across the public health sector SCM system which collective objective is to ensure the effectiveness and efficiency of the system through the minimization of SCM risks, interruptions, and vulnerabilities, there still exist a yawning underperforming gap due to the systems overly centralization and lack of priority for SCM risk reduction measures making the system still not performing at its full potential. The study concluded that there are basic weaknesses in almost all the supply chain dimensions covered: risk identification, risk assessment and mitigation, Supply Chain Risk Management Governance, impact of supply chain risk management, and employee supply chain risk routine activities because the much-needed attention is not given to SCM activities. The study recommended reforms including the establishment of a Supply Chain Risk Management Unit (SCRMU) at all levels (national, regional, and districts) under the direct supervision of Health Administration and Support services (HASS), the introduction of SCM performance contracts, and the implementation of a stronger but user-friendly technology driven SCM system including e-procurement, warehouse management tracking, supported by a robust feedback system to ensure risk free SCM

Building responsive and resilient supply chains: Lessons from the <scp>COVID</scp>‐19 disruption

Recent disruptions in global supply chains have led to increased interest in supply chain risk management investigation. On the other hand, increased environmental regulation has urged firms to compulsorily have their routine operations environmental friendly. Last few years, researchers have investigated these two streams as distinct but have mentioned them to be related in the long run. The current study attempts to bridge this gap of allied literature by conceptually arguing that it to arrive at sustainability in supply chain operations, firms must co-integrate their supply chain risk management and green practices in supply chain. While risk management broadly aims to reduce the exposure to a risky situation coupled with minimizing the negative impact of disruption of firm performance; green practices aims to make operational, tactical and strategic operations of the firm environment friendly. Based on sufficient theoretical tenets from related literature, the study attempts to develop a theoretical model linking supply chain risk management, green supply chain practices and sustainable supply chain. In doing so, the study provides an indicative list of various risk classifications and proposed risk mitigating strategies till date. Finally, the study indicates managerial implications and suggests further research opportunities.

PurposeThe Covid-19 pandemic has created an environment of high uncertainty and caused major disruptions in supply chains. The new normal that has emerged during the pandemic is leading to a need to identify new solutions to improve supply chain crisis management in the future. Practitioners require adapted recommendations for solutions to implement. These recommendations are laid out in this paper.Design/methodology/approachA combination of a systematic literature review (SLR), qualitative semi-structured interviews and a questionnaire survey of supply chain practitioners is applied. The interviews provide insights into supply chain practitioners' views of their approaches and, together with the solutions proposed in the literature, provide future recommendations for action for supply chain managers.FindingsDuring the pandemic, companies experienced disruptions in supply, production and demand, as well as interruptions in transportation and distribution. The majority of the solutions proposed in the literature, coincide with the opinions of practitioners. These include collaborative risk management, real-time monitoring and information sharing, supply network management, scenario planning and “what-if” simulations.Research limitations/implicationsAlthough the number of interviews conducted and questionnaires completed is limited, they still serve to supplement the SLR with important practical insights and recommendations.Originality/valueThis paper presents a review of recent academic literature focusing on the impact of Covid-19 on supply chains and the existing solutions to mitigate that impact and manage future crises. It has been expanded to include industry perspectives and experiences. The findings of this study present recommended practices and strategies for better managing supply chains during a crisis.

Fake news, misinformation and disinformation have significantly increased over the past years, and they have a profound effect on societies and supply chains. This paper examines the relationship of information risks with supply chain disruptions and proposes blockchain applications and strategies to mitigate and manage them. We critically review the literature of SCRM and SCRES and find that information flows and risks are relatively attracting less attention. We contribute by suggesting that information integrates other flows, processes and operations, and it is an overarching theme that is essential in every part of the supply chain. Based on related studies we create a theoretical framework that incorporates fake news, misinformation and disinformation. To our knowledge, this is a first attempt to combine types of misleading information and SCRM/SCRES. We find that fake news, misinformation and disinformation can be amplified and cause larger supply chain disruptions, especially when they are exogenous and intentional. Finally, we present both theoretical and practical applications of blockchain technology to supply chain and find support that blockchain can actually advance risk management and resilience of supply chains. Cooperation and information sharing are effective strategies.

Cross-regional risk management is very key to realize the smooth and efficient circulation of goods between regions in China. Under the construction of a new development pattern with domestic circulation as the main body and domestic and international double circulation promoting each other, the cross-regional nature of supply chain network brings challenges and risks to the circulation of commodities. Innovation point of this research is to place Alibaba electrical products as the research object, through to the supply chain risk management are discussed. Policy exists between the different areas, cultural, geographical differences, these differences may cause a disruption in supply chains, delay or accuracy. Supply chain managers need to adopt a series of strategies and measures to reduce and manage cross-regional risks, so as to ensure the smooth flow of goods and promote economic development and growth. This study can also contribute to the development of the theory and practice of risk management in cross-regional supply chains.

A research agenda to reflect reality: On being responsive

The present study made an effort to investigate the tri-linkage between information systems (ISs) and supply chain management (SCM) practices to enhance the operational performance (OP) of an organization. The study made an effort to find out, how different kinds of ISs help the supply chain to achieve greater OP. Three constructs, namely, operational IS, strategic IS and infrastructural IS, have been identified from literature. Four plant-level supply chain constructs, namely, strategic supplier partnership, information sharing and information quality, purchasing management and inventory management, have been identified. The co-relation between ISs, supply chain practices and OP has been tested. Finally, both ISs and supply chain impact on OP have been evaluated. The ISs create an indirect impact on OP via supply chain practices, which results in OP. The OP can be in the form of reduction in number of defects in operations, quality improvement in products, delivery of products or raw material at right place, at right time and in right quantity. The study leads to interesting implications for practitioners. The ISs should be connected at various levels, that is, operational, strategic and infrastructural, to support the entire supply chain. With the changing dynamics of accuracy and speed in operations and the target of achieving economies of scale, the role of ISs becomes critical in the entire supply chain. The supply chain and information technology practices impact on OP has been studied by the number of authors. However, the classification of ISs and plant-level supply chain impact on OP has not been studied in detail by authors.

PurposeThe current study sought to investigate the moderating effect of supply chain disruptions (SCD) (supply chain – supply disruption, catastrophic disruption and infrastructure disruption) on the relationship between supply chain resilience (SCR) and supply chain performance (SCP) of manufacturing firms in Ghana.Design/methodology/approachThe quantitative research approach and explanatory research designs were utilised. A sample of 345 manufacturing firms were drawn from a population of 2,495 manufacturing firms in the Accra metropolis. The Partial Least Squares Structural Equation Modelling (PLS-SEM) was employed to accomplish the research objectives.FindingsFirst, the study revealed that SCR has a significant positive effect on SCP. Second, the authors found reasonable evidence to support that SCD have a significant positive moderating effect on the relationship between SCR and SCP, except for supply chain catastrophic disruption which had a negative impact. It can be concluded that the components of SCD have heterogeneous impact in the SCR and SCP nexus.Research limitations/implicationsThe study is limited to manufacturing firms in Ghana and does not make a distinction among resilience strategies.Practical implicationsIncreased SCR boost manufacturing companies' supply chains' performance and aid to lessen the adverse effects of SCD relating to infrastructure and supply. It implies that supply chain managers are able to reduce the effects of infrastructure and supply disruptions. Also, techniques that reduce the adverse impact of SCD relating to catastrophe would be beneficial for supply chain managers in Ghana and other countries with comparable economic environments.Originality/valueThe study provides a unique contribution on the moderating role of the dimensions of SCD (supply, infrastructure and catastrophic) on the nexus between SCR and SCP in a developing economy context in a dynamic changing environment. Policymakers would get better insights into instituting the required policies needed to revamp firms with weak supply chains as a result of supply chain disruption.

Companies not only must reestablish themselves to produce higher-quality goods and services, reduce waste, and adapt to the demand, but also to manage their supply chain management effectively as a result of the increasing number of competing companies growing both locally and internationally. As a result, the study sought to establish the supply chain practices affect the organizational performance of milling company listed Nairobi Stock Exchange. The specific goals will be to determine the influence of Green supply chain practices, supplier management practices, outsourcing practices, and Supply Chain Management on the organizational performance of milling company listed Nairobi Stock Exchange, as well as to determine the moderating effect of information technology on contemporary supply chain practices on the organizational performance of milling company listed Nairobi Stock Exchange. The theory of lean Contract Value, transaction cost theory, theory of supply chain constraints and resource based view theory were used in the study. A descriptive study design was used in this investigation. The study's target population was the 260 employees of the milling company listed Nairobi Stock Exchange, as defined by the Kenya Association of Manufacturers Directory, who worked in procurement, marketing, finance, security, ICT, or similar management. A structured questionnaire was used to collect data. A sample of 73 respondents was selected using Yamane (2012) formula. Descriptive statistics, inferential statistics was used to analyze the data. A pilot study involving 8 respondents was conducted to determine the data collection tool reliability. The study instrument had Cronbach’s alpha coefficients of between 0.756 and 0.836 on all study constructs and hence fit for the field study. Based on final results the study found that green supply chain practices, supplier management, and outsourcing positively and significantly influence the performance of large-scale flour processing firms in Kenya. Information advancement was identified as a critical moderating factor that enhances the relationship between these supply chain management practices and performance. Specifically, information advancement amplifies the effects of green supply chain, supplier management, and outsourcing on operational performance. The study also suggested that Flour processing firms in Kenya should fully embrace green supply chain practices, including waste management, efficient energy equipment, and the use of natural light where possible to improve sustainability and performance. The study also suggested that Firms should enhance supplier relations by engaging suppliers in product development, sharing information, and rewarding top-performing suppliers to foster commitment and motivation. The study also suggested that Firms should seek cost savings, efficiency, and sustainability when outsourcing services. This can be achieved through supplier performance evaluations and formal contracts. The study also suggested that regularly review information advancement strategies to optimize performance. This study contributed to supply chain management theory by confirming the relationship between supply chain practices, information advancement, and firm performance. It strengthens the theoretical framework and informs policy makers and large-scale flour processing firms about the importance of supplier management, green supply chain, and outsourcing in supply chain management policies and regulations. In practice, the study guides firms on how to enhance performance through effective supply chain management considering information advancement. The study suggested that Future research can explore the relationship between supply chain management and performance in other sectors beyond flour processing, such as agriculture, transportation, shipping, and manufacturing. Additionally, studies can investigate the impact of different moderators, such as dynamic capabilities, legal frameworks, government regulations, and competition, on the relationship between supply chain management and performance. This will contribute to a more comprehensive understanding of supply chain management dynamics&#x0D;

Supply chain management is widely accepted as a means for companies to gain competitive advantage. While product and information flows have been widely covered in the literature, relatively little attention has been paid to the management of a supply chain's finances. The objective of this dissertation, therefore, is to add to the emerging literature on financial flows. One inroad to researching financial flows in supply chains is to build on finance theory. Research in finance has analyzed financial flows from a credit point of view. Although researchers have identified more than ten motives for why firms offer and demand trade credit, a comprehensive review of this literature is missing. Following an introduction in Chapter 1, we therefore review this literature in Chapter 2 of this dissertation. We find that two explanations for the existence of trade credit receive broad support. Suppliers offer trade credit to increase product sales. Buyers demand trade credit to circumvent credit rationing. Following the review, we develop a detailed agenda for future research. We find that the relevant operations management literature builds only on a fraction of the insights from the finance literature and propose in-depth studies of capital access, transaction pooling, and control protection as promising areas for future research. Another way to researching financial flows in the context of supply chains is to leverage the methodological richness of the finance domain. In Chapter 3, we therefore investigate optimal financial flows by analyzing secondary data through multivariate regression. To test our hypotheses, we compile panel data on 3,383 groups of public United States firms from three databases. One of these databases is Revere Relationships, a relatively novel database on commercial relations. We find that our data are consistent with the causal relations and theoretical predictions of the operations management literature. Firm profitability is positively associated with payment delay. Payment delay, in turn, is positively associated with the capital cost difference between buyer and supplier and negatively associated with the price elasticity of demand and the deterioration rate of inventory. However, we do not observe any significant interactions between these factors, which raises a number of questions for future research. Another well established methodology in the finance domain is the analysis of stock market reactions to corporate events. Supply chain researchers have used this methodology to analyze the effect of corporate events such as product introduction delays, total quality management implementations, and supply chain disruptions. However, despite the fact that supply chain management is concerned with connected entities, these studies have mainly focused on single firms. In Chapter 4, we therefore study the shareholder value loss associated with disruption announcements across suppliers, customers, and rivals. Our event study finds that suppliers experience -1.24%, customers -0.07%, and rivals -0.19% abnormal stock market returns over a two-day period when firms announce supply chain disruptions. We also implement cross-sectional regression to test several hypotheses. For suppliers, dependence on the disruption announcing firm aggravates the effect. The substitutability of the disruption announcing firm, however, seems to be irrelevant in both the suppliers' and the customers' case. To facilitate the adoption of our results by practicing managers, we consolidate the previously generated insights and propose three trade credit strategies (win-win, follow, and squeeze) and a decision tree in Chapter 5. Furthermore, we highlight an innovative example of a win-win strategy (reverse factoring) and examine it through a survey of 213 finance and operations managers. On average, we find that companies that use reverse factoring benefit from a reduction in working capital of 13%. The same managers report that suppliers benefit, too, by reducing working capital by 14%. However, we find that three factors distinguish successful from less successful implementations – choosing the right banking partner, ensuring CEO sponsorship, and involving at least 60% of the supply base. We complete the dissertation with a conclusion in Chapter 6.

Supply Chain and Supply chain Management have played a significant role in corporate efficiency and have attracted the attention of numerous academicians over the last few years. Academic literature review discloses an important spurt in research in practice and theory of Supply Chain (SC) and Supply Chain Management (SCM). Connecting and informing on Supply Chain, Supply Chain Management and distribution Management characteristics have contributed to the Supply Chain integration. This integration has generated the approach of extended corporate and the supply chain is nowadays manifested as the cooperative supply chain across intercorporate borders to increase the value across of the whole supply chain. This paper seeks to introduce supply Chain and Supply Chain Management. A Supply Chain and Supply Chain Management definition, theoretical, practical and measurement analysis are proposed. Several randomly selected refereed academic articles were methodically analyzed. A number of key findings have arisen: the field is a comparatively new one; several researchers have different perception of the discipline; the consensus is lacking on the definition of the terms: the Supply Chain and Supply Chain Management are widely defined; contextual focus is mainly on the manufacturing industry; research methods employed are mostly theoretical conceptual; the findings also suggest that undertaking a theory view could make important contributions towards defining the scope of supply chains. The literature review in this research proposes critical lexicons that are mostly used in academic dissertation. These notions can be beneficial for academician or organizations that are involve in Supply Chain Management business.

The COVID-19 pandemic has caused major disruptions in global supply chains with unforeseen and unpredictable consequences. However, the pandemic was not the only reason why supply chain risk management has become more crucial than ever before. In the last decade, the occurrence of previously merely theoretical risks has emphasised the importance of risk management in supply chains. This has increased interest in risk assessment and management, COVID-19 and other disaster impact studies and proposals for more stable and resilient supply chains. This article addresses the problem of transport risk in supply chains in the context of COVID-19. Particular attention is paid to quantitative approaches. Identifying and quantifying risks and modelling their interdependencies contribute to the stability of the supply chains. The analysis presents the current state of knowledge and can serve as a guide for further research. It highlights transport risk management in supply chain management as an important area of investigation. In light of the challenges of the COVID-19 pandemic, the article proposes an approach to transportation risk assessment based on quantitative assessment and interconnection of risk factors.

Global supply chains faced significant disruptions due to the COVID-19 pandemic which led to unprecedented challenges for multiple industries across the world. The research investigates how the pandemic has affected supply chain management operations and develops strategies to improve resilience and recovery capabilities. This study combines recent literature findings to examine COVID-19's effects on supply chains through raw material procurement, production processes, logistics operations, and demand pattern changes. The pandemic triggered significant disruptions which affected both raw materials and intermediate goods as well as finished products throughout multiple sectors. The robust global supply chains (GSCs) which showed resilience to numerous disruptions have now been significantly compromised by the pandemic according to Ivanov and Dolgui (2020b). The study identifies crucial impact areas such as manufacturing and processing operations together with transport and logistics services while also pointing out major demand pattern alterations. The research investigates how disruptions send shockwaves across supply chain networks by demonstrating their interconnected nature and the possibility of cascading failures. Existing supply chain models revealed their weaknesses during the pandemic especially those which depended on global sourcing and just-in-time inventory systems. The research offers strategic recommendations to boost supply chain resilience as a response to these challenges. Supply chain resilience strategies involve expanding supplier networks as well as using advanced technologies for immediate visibility and risk management while redesigning supply chain structures to achieve both efficiency and robustness. The research analyzes how the pandemic may affect future supply chain management practices by encouraging a transition to localized and adaptable supply chain models. This study's results add to the expanding understanding of supply chain durability during worldwide disruptions while offering practitioners and policymakers actionable insights to create stronger and more flexible supply chain strategies for a post-COVID-19 world. Keywords COVID-19, supply chain disruption, global supply chains, resilience strategies, risk management, supply chain restructuring, technology adoption, pandemic response