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Select the best supply chain by risk analysis for Indian industries environment using MCDM approaches

Mahesh Chand (YMCA University of Science and Technology, Faridabad, India)
Tilak Raj (YMCA University of Science and Technology, Faridabad, India)
Ravi Shankar (Indian Institute of Technology Delhi, New Delhi, India)
Aashish Agarwal (Indira Gandhi National Open University, New Delhi, India)

Benchmarking: An International Journal

ISSN: 1463-5771

Article publication date: 3 July 2017

Abstract

Purpose

Risk management in supply chain (SC) is not an easy task due to different uncertainty and intricacy. Management of risk is necessary for smooth operation of SC. The purpose of this paper is to demonstrate multi-criteria decision-making (MCDM) approaches to select the best SC which has minimum risks.

Design/methodology/approach

In proposed methodologies different steps, i.e. goal, risk attributes, risk sub-attributes and alternatives are identified for the selection of best SC using analytical network process which is being followed by the Multi-Objective Optimization by Rational Analysis method.

Findings

Findings of this paper are highly valuable for Indian manufacturing industries for risk management in SC. It helps the researchers and managers to deal with different types of uncertainty and risks associated with SC.

Research limitations/implications

This research is limited only for risk management in SC. Other issues in SC can be analyzed and further extended by other MCDM approaches.

Originality/value

This paper identified the different risks in SC and a systematic way to find out the best SC which helps the researchers and managers in risk mitigation.

Keywords

Citation

Chand, M., Raj, T., Shankar, R. and Agarwal, A. (2017), "Select the best supply chain by risk analysis for Indian industries environment using MCDM approaches", Benchmarking: An International Journal, Vol. 24 No. 5, pp. 1400-1413. https://doi.org/10.1108/BIJ-09-2015-0090

Publisher

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Emerald Publishing Limited

Copyright © 2017, Emerald Publishing Limited