Assessing and managing risks using the Supply Chain Risk Management Process (SCRMP)

Rao Tummala (Computer Information Systems Department, College of Business, Eastern Michigan University, Ypsilanti, Michigan, USA)
Tobias Schoenherr (Department of Supply Chain Management, The Eli Broad Graduate School of Management, Michigan State University, East Lansing, Michigan, USA)

Supply Chain Management

ISSN: 1359-8546

Publication date: 27 September 2011

Abstract

Purpose

The purpose of this paper is to propose a comprehensive and coherent approach for managing risks in supply chains.

Design/methodology/approach

Building on Tummala et al.'s Risk Management Process (RMP), this paper develops a structured and ready‐to‐use approach for managers to assess and manage risks in supply chains.

Findings

Supply chain risks can be managed more effectively when applying the Supply Chain Risk Management Process (SCRMP). The structured approach can be divided into the phases of risk identification, risk measurement and risk assessment; risk evaluation, and risk mitigation and contingency plans; and risk control and monitoring via data management systems. Specific techniques for conducting this process are suggested.

Originality/value

While supply chain risk management is an emerging and important topic in our dynamic and interconnected world, conceptual frameworks providing a clear meaning and normative guidance are scarce (Manuj and Mentzer, 2008). This paper presents such a framework, offering structure and decision support for managers.

Keywords

Citation

Tummala, R. and Schoenherr, T. (2011), "Assessing and managing risks using the Supply Chain Risk Management Process (SCRMP)", Supply Chain Management, Vol. 16 No. 6, pp. 474-483. https://doi.org/10.1108/13598541111171165

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited

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