Supply Chain Risk Management: Literature Review

TLDR

Global supply chain management faces growing uncertainties and risks that threaten network flow, financial performance, and national economies, prompting debate among practitioners and academics. The paper reviews literature on risk factors in supply chain management within an uncertain, competitive business environment. The review selected papers that included the word “risk” in titles, keywords, or abstracts for theoretical analysis. The review suggests that debate on supply chain risk management can enhance competitiveness, and that risk mitigation strategies reduce impacts from natural and human‑made disasters.

Abstract

The risks associated with global supply chain management has created a discourse among practitioners and academics. This is evident by the business uncertainties growing in supply chain management, which pose threats to the entire network flow and economy. This paper aims to review the existing literature on risk factors in supply chain management in an uncertain and competitive business environment. Papers that contained the word “risk” in their titles, keywords, or abstracts were selected for conducting the theoretical analyses. Supply chain risk management is an integral function of the supply network. It faces unpredictable challenges due to nations’ economic policies and globalization, which have raised uncertainty and challenges for supply chain organizations. These significantly affect the financial performance of the organizations and the economy of a nation. Debate on supply chain risk management may promote competitiveness in business. Risk mitigation strategies will reduce the impact caused due to natural and human-made disasters.