Impact of digital technologies on the risk assessment in food supply chain: a wake towards digitalisation

Abstract

SummaryNowadays, the adoption of digital technologies getting a significant pace. It has the potential to improve the existing dynamics of the food supply chains and improve its transparency. Many times, uncertainties prevail in the food supply chain performance systems, which cause amplification of risk. These uncertainties are due to a lack of product traceability mechanisms in the food supply chains. Hence, it becomes vital to harness the potential of digital technologies like the Internet of Things, Blockchain, and common digital platforms to improve the flow of information and products in the food supply chain. The presented work is aimed at assessing the impact of digital technologies on risk identification and its mitigation in the food supply chain dynamics. For the same, risks are assessed relative to its mitigation strategy by the two‐stage methodology of preference rating approach. Here, the impacts of risk under consideration are quantified relative to every risk mitigation strategy for a better depiction of the potential of digital transformation of the food supply chain. It yields the broadening of its implication perspectives at operational, strategic and tactical levels of the food supply chain and makes them future‐ready.