Global supply chains are exposed to a wide range of risks. There are a few organized and methodical methods for assessing supply chain risks, according to a review of current research. However, there is no conceptual framework that holds this stuff together. The purpose of this article is to construct a model of global supply chain risk management by merging literature from several disciplines such as logistics, supply chain management, operations management, strategy, and international business. The implications for stakeholders are also discussed, as well as how future research may give further insight into the phenomenon of global supply chain risk management.
Supply chain risk management (SCRM) is used by businesses to identify, monitor, detect, and mitigate threats to supply chain continuity and profitability. Volatility, material shortages, financial troubles and failures at suppliers, and natural and man-made tragedies are all challenges to the supply chain. Supply chain risk management software assists and protects a company's supply chain operations by detecting, managing, and reducing global and domestic hazards. Chevron Corporation, a worldwide oil and gas business headquartered in the United States, has implemented SMART, a GEP procurement method designed by GEP Worldwide Company.
Global supply chains are exposed to a wide range of risks. There are a few organized and methodical methods for assessing supply chain risks, according to a review of current research. However, there is no conceptual framework that holds this stuff together. The purpose of this article is to construct a model of global supply chain risk management by merging literature from several disciplines such as logistics, supply chain management, operations management, strategy, and international business. The implications for stakeholders are also discussed, as well as how future research may give further insight into the phenomenon of global supply chain risk management. As a result, logistics organizations are focused on establishing supply chain risk management systems in transportation and logistics to monitor market circumstances, analyze risk/security, and map supply chain resilience risk.