Towards a Conceptual Framework for Managing Supply Chain Uncertainty and Risk in the Australian Red Meat Industry: A Resource-Based View Approach

Abstract

The beef and red meat sector in Australia is undergoing rapid change because of globalization, a highly competitive beef and red meat market (local and export). Risk management in the Australian beef and red meat supply chain has become increasingly important as companies both large and small seek to extend their global reach. It is important to manage these supply chain risks. The purpose of the conceptual paper is to present a framework for managing supply chain risk in the Australian beef and red meat industry. The supply chain risk management strategy is critical and significant to strategically support the supply chain and business success in the long run. However, little research has been conducted in the industry so far. Based on the resource-based view (RBV) approach, the firms’ capability is considered as effective tools for mitigating the supply chain risk in the real operational environment. The paper identified major types of supply chain risks in the red meat industry. The conceptual framework focuses on the relationships among the firms’ capabilities and supply chain risks. This provides insights into the supply chain risk management. Although, the study focuses on the Australian red meat industry, the proposed framework can be validated with an empirical work in different sectors. Moreover, this paper contributes to the supply chain risk management literature.