Supply Chain Risk Management Strategy – Annotated Bibliography

Overview

In the present scenario, the firm ‘s management faces multiple challenges. Yet, to sustain in the market and cope with the global transformation, organization must implement the Supply Chain Management (SCM) in their management strategy. Nevertheless, such process is not easy, as during the implementation, these firms undergo complex threats related to the supply chain. Thus, to address these critical supply chain threats, the firm must identify the factors causing these threats and components to cause the uncertainty. The key risk factors are communicating technology, information sharing, environmental factors, financial and strategic attributes. In the unstable and insecure terms of competitive environment, identifying these risks cause the act of adaptation in the strategic lever of the firm during the competitive process. The tools and technique are developed, to improvise the significant supply chain risks in context to firm’s priorities. These supply chain risk appraisal process provide support to make operational decisions and strategic plans to minimize the defect in supply chain quantity.

Keywords: Risk factors of Supply Chain Management, Sustainable Supply Chain Management (SSCM), Supply Chain Risk Management (SCRM).

Annotated Bibliography

Oxborrow, L. & Brindley, C., 2014. Disintermediation in the apparel supply chain. Journal of Fashion Marketing and Management, 18(3), pp.252–268. Available at: http://www.emeraldinsight.com/10.1108/JFMM-10-2011-0071 [Accessed August 11, 2014].

In the present scenarios, the fashion industry Supply Chain acts as a miniature of global industrial exchange and also represents the changes in technologies, relationships, and organizational structure. This study’s purpose is to analyze the risk attributes, developing supply strategies and the supplier’s relationships as the fashion industry retailer’s power are increasing. This study was performed in Leicester (UK) based suppliers of the fast fashion market industry. This research evaluated the SME supply chain’s shape and the risk factors of the fashion industry. The study employed the qualitative approach as the research strategy and case study methodology. The study title is Disintermediation in the apparel supply chain and was published in Journal of Fashion Marketing and Management. The key finding of the study indicated that there is a change in the current supply chain and after the implementation of SCM, the Small and Medium Size Enterprises (SMEs) had achieved more success in executing the upstream rather than the downstream and structured based on the design driven system. The factors include the willingness to motivate and the desire to own the relationship between the consumer which has not resulted in maximum return or power in which the continuing the relationship seemed to be difficult. However, this study mainly focused on reality instead of employing the best practices which constituted to the lack in the supply chain study. The study had poor academic focuses as too much concentration was given to the cultural aspect which impacts them and power relationships which were related to the supply chain.

Turker, D. & Altuntas, C., 2014. Sustainable supply chain management in the fast fashion industry: An analysis of corporate reports. European Management Journal. Available at: http://linkinghub.elsevier.com/retrieve/pii/S026323731400022X [Accessed July 23, 2014].

The fashion industry has widespread their functions and operations across developed as well as developing countries. The purposed of this study is to identify the changes in developing countries’ SCM practices were they are facing an environmental, social and economic development. Moreover, these countries strongly focus on sustainability and make sure whether same standards and quality in production and operating conditions in the complete supply chains. Also, the transfer of resource between developed and developing countries are considered to key activates of current sustainability, but the firm’s actual method of managing their supply chain is not yet explored. Thus, this study attempts to identify the critical factor that constitutes during the implementation of SCM in both developed as and developing countries. Likewise, the study conducted the theoretical framework referring the study conducted by Seuring and Müller (2008). The by Seuring and Müller (2008) identified the method of managing their supply chain by employing a conceptual mapping which analyzes the present circumstance of Sustainable SSCM in the fast fashion industry. The study examined nine different fashion industries which have similar reporting guidelines. The key results of the study indicated that these industries target substantially over the supplier compliance based on auditing practices to avoid issued related to manufacturing in developing countries, code of conduct, monitoring and, develop the complete supply chain performance and set sustainability criteria for their suppliers.

Grimm, J.H., Hofstetter, J.S. & Sarkis, J., 2014. Critical factors for sub-supplier management: A sustainable food supply chains perspective. International Journal of Production Economics, 152(C), pp.159–173. Available at: http://www.sciencedirect.com/science/article/pii/S0925527313005707.

The research was conducted to explore the sustainable and significant implications of the supply chain in the food sector. The purpose of the study was to identify the requirement of effective supply chain management by considering the sub-supplier and supply chain partners along with the issues related to the sustainability. The environmental and social efforts are driven by supply chain partners and sub-supplier, as these SCM methods implemented in the organization. The analyzed the complications and threats that make these make sub-supplier management more complex than direct supplier management. For instance, poor contractual relation with their sub-suppliers, fewer chances to put direct pressure over the sub-suppliers and no transparency between the firm and sub-suppliers are the complications. This study conducted from the perspective of the critical success factors (CSFs) for organizations’ sub-supplier management. Further, the study proposed a model which developed focusing on the food industry to support these with a focus on the food industry critical factors and methods to overcome these complications and unique threats of sub-supplier management. The research data collected for about a year from two different supply chains and the research identified 14 CSFs that impact the sub-suppliers' compliance success along with Corporate Sustainability Standards (CSS). The study analyzed the threats in the supply chain and risk faced during the effective supply chain collaboration.

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Lavastre, O., Gunasekaran, A. & Spallanzani, A., 2014. Effect of firm characteristics, supplier relationships, and techniques used in Supply Chain Risk Management (SCRM): an empirical investigation on French industrial firms. International Journal of Production Research, 52(11), pp.3381–3403. Available at: http://www.tandfonline.com/doi/abs/10.1080/00207543.2013.878057 [Accessed August 7, 2014].

In the recent decades, more risk faced in the supply chain as these risks which have a negative impact on the organizational growth. Thus, the purpose of this study is to identify the risk that affects the inter-organizational and external growth of the organization’s supply chain. The major factors that affect the supply chain include the events like strikes and terrorist activities, natural disasters which significantly impact the competitiveness and organizational performance of supply chains. Moreover, the strategic decisions and activities related to the operation of the organization like manufacturing, commercialization, procurement, supply, delivery, planning, demand management, etc. create the uncertainties. These uncertainties are due to the increased supply chain risk by the internal or external influence of firms. After understanding the potential implications of these circumstances on supply chain competitiveness, the study efforts to define risks and determine the model that minimizes the negative influence of risks over supply chains. The study proposed a model of Supply Chain Risk Management (SCRM) which developed from the data collected from manufacturing sector of 164 French companies. The reviewed the literature, developed a theoretical framework and performed research on previous studies to identify the critical key success factors of SCRM. The study focused on the inter-organizational management of supply chain risk by employing the cooperative relationship between the firm and their supply chain partners and was known as the effective method to make the efficient SCRM. The study concluded with the key findings of effective model for the SCRM and recommendation for more advancement in SCRM

Valko, J., Ritala, P. & Edelmann, J., 2014. On uncertainty in supply chain risk management. International Journal of Logistics Management, The, 25(1), pp.3–19. Available at: http://www.emeraldinsight.com/10.1108/IJLM-10-2012-0126 [Accessed August 7, 2014].

In the rapidly changing business environment, the concept of uncertainty is widespread and is related to the supply chain risk management. The purpose of this study is to identify the risk related to uncertainty in the business environment, and this topic must be scrutinized in depth to identify the uncertainties in reality. To bridge the gap, the study analyzed and proposed a conceptual framework for evaluating the nature and degree of uncertainty regarding the supply chain. The objective of the study is to develop the theories of SCM’s uncertainty and to gain an overall knowledge of the nature and degree of uncertainty regarding the supply chain. From the perspective of certainty and uncertainty of SCM, this study proposed a conceptual model. The study illustrated a detailed method of analyzing the nature and degree of uncertainty regarding supply chain. The analysis indicated and critical knowledge to enable the establishment of supply chain risk management more effective and efficient manner. The key findings indicated that the developed conceptual model classifies the uncertainty in the supply chain about the novel, and hence it could improve the knowledge of uncertainty and risk in supply and logistics management. Moreover, it makes it simple to categories these uncertainties.

Hofmann, H. et al., 2014. Sustainability-Related Supply Chain Risks: Conceptualization and Management. Business Strategy and the Environment, 23(3), pp.160–172. Available at: http://doi.wiley.com/10.1002/bse.1778 [Accessed July 13, 2014].

The majority of the firms have established the SCM, and during this implementation, these firms face ethical, ecological and social related issues. Thus, the study focuses on supply chain risk management which has neglected the problems of sustainability. The study analyzed factors of the sustainability issues which manifest themselves as threats and how these attributes create failure for the focal firms. The study identified that without a good understanding of the conceptualizations and materialization process of sustainability risks would remain uncertain and results in generation ineffective management frameworks. Thus, the study employed the transdisciplinary approach and supported with a concise illustration of sustainability issues of local companies in supply chains, which documented as risks. Thus, the study created a structure and a stakeholder theory that established a conceptualization of sustainability threats and was analyzed in their respective field. This study proposed a management concept for sustainability-related supply chain risks. The developed concept supported to overcome the mitigated sustainability problem in global supply chains. Hence it made them expose less towards the supply chain risk. This technique will also adopt the supply chain’s sustainability standards.

References

Oxborrow, L. & Brindley, C., 2014. Disintermediation in the apparel supply chain. Journal of Fashion Marketing and Management, 18(3), pp.252–268. Available at: http://www.emeraldinsight.com/10.1108/JFMM-10-2011-0071 [Accessed August 11, 2014].

Turker, D. & Altuntas, C., 2014. Sustainable supply chain management in the fast fashion industry: An analysis of corporate reports. European Management Journal. Available at: http://linkinghub.elsevier.com/retrieve/pii/S026323731400022X [Accessed July 23, 2014].

Grimm, J.H., Hofstetter, J.S. & Sarkis, J., 2014. Critical factors for sub-supplier management: A sustainable food supply chains perspective. International Journal of Production Economics, 152(C), pp.159–173. Available at: http://www.sciencedirect.com/science/article/pii/S0925527313005707.

Lavastre, O., Gunasekaran, A. & Spallanzani, A., 2014. Effect of firm characteristics, supplier relationships, and techniques used in Supply Chain Risk Management (SCRM): an empirical investigation on French industrial firms. International Journal of Production Research, 52(11), pp.3381–3403. Available at: http://www.tandfonline.com/doi/abs/10.1080/00207543.2013.878057 [Accessed August 7, 2014].

Valko, J., Ritala, P. & Edelmann, J., 2014. On uncertainty in supply chain risk management. International Journal of Logistics Management, The, 25(1), pp.3–19. Available at: http://www.emeraldinsight.com/10.1108/IJLM-10-2012-0126 [Accessed August 7, 2014].

Hofmann, H. et al., 2014. Sustainability-Related Supply Chain Risks: Conceptualization and Management. Business Strategy and the Environment, 23(3), pp.160–172. Available at: http://doi.wiley.com/10.1002/bse.1778 [Accessed July 13, 2014].