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Container shipping companies face various risks with different consequences that are required to be mitigated. Limited empirical research has been done on identifying and evaluating risk management strategies in shipping operations with different risk consequences. This paper aims to identify the appropriate risk mitigation strategies and evaluate the relative importance of these strategies.

Literature review and interviews were used to identify and validate the appropriate risk mitigation strategies in container shipping operations. A questionnaire with a Likert five-point scale was then conducted to rank the identified risk mitigation strategies in terms of their overall effectiveness. Top six important strategies were selected to evaluate their relative importance under three risk consequences (i.e. financial, reputation and safety and security incident related loss) through using another questionnaire with paired-comparison. Fuzzy analytic hierarchy process (AHP) was then conducted to analyse the paired-comparison questionnaire.

After conducting a systematic literature review and interviews, 18 mitigation strategies were identified. The results from the first questionnaire show that among the 18 strategies, the top three are “form alliances with other shipping companies”, “use more advanced infrastructures (hardware and software)” and “choose partners very carefully”. After conducting fuzzy AHP, the results show that shipping companies emphasize more on reducing the risk consequence of financial loss; and “form alliance with other shipping companies” is the most important risk mitigation strategy.

This paper evaluates the risk mitigation strategies against three risk consequences. Managers can benefit from the systematic identification of mitigation strategies, which shipping companies can consider for adoption to reduce the operational risk impact.

As global supply networks proliferate, the strategic significance of supply chain risk management (SCRM) – defined as the identification, evaluation, and management of supply chain-related risks to reduce overall supply chain vulnerability – also increases. Yet, despite consistent evidence that firm performance is enhanced by appropriate fit between strategy and context, extant SCRM research focusses more on identifying sources of supply chain risk, types of SCRM strategy, and performance implications associated with SCRM than on the relative efficacy of alternative primary supply chain risk mitigation strategies in different risk contexts. Drawing on contingency theory, a conceptual framework is proposed that aligns well-established aspects of SCRM to present a rubric for matching primary alternative supply chain risk mitigation strategies (redundancy and flexibility) with particular risk contexts (severity and probability of risk occurrence). The paper aims to discuss these issues.

Conceptual paper.

The proposed framework addresses supply chain managers’ need for a basic rubric to help them choose and implement risk mitigation approaches. The framework may also prove helpful for introducing business students to the fundamentals of SCRM.

The framework and associated research propositions provide a theoretically grounded basis for managing the firm’s portfolio of potential supply chain risks by applying appropriate primary risk mitigation strategies based on the specific context of each risk rather than taking a “one size fits all” approach to risk mitigation. An agenda for progressing research on contingency-based approaches to SCRM is also presented.

The vulnerability issue in supply chains is among the most pressing concerns that firms are currently facing. As a preliminary attempt to address the lack of empirical research, this paper aims to primarily explore the relationship between vulnerability mitigation strategies and supply chain effectiveness with security culture as a moderator.

Data are gathered via a survey of 209 Indonesian manufacturing firms. The data are analyzed using partial least squares technique.

Results indicate that supply chain visibility, supply chain flexibility and supplier development strategies positively affect supply chain effectiveness. Moreover, risk culture positively moderates the effects of supply chain visibility and supplier development on supply chain effectiveness.

The findings may improve supply chain effectiveness by mitigating the effects of vulnerability causes.

This study contributes to the advancement of knowledge on the relationships between vulnerability mitigation strategies and supply chain effectiveness.

Managing supply chain risk is a crucial element in ensuring the long-term sustainability of any organization or industry. As such, identification of risks and deploying their mitigation strategies should be the focal point to sustain in the long run. The risks that are faced by food processing supply chains are gaining prominence, given more consumers requiring higher quality products while ensuring traceability. In essence, this research focuses on the supply chain risks and mitigation strategies in the spice industry of an emerging economy, Sri Lanka.

This paper integrates two popular multi-criteria decision-making (MCDM) techniques, such as the analytical hierarchy process (AHP) and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) to assess the supply chain risks and to derive their mitigation strategies for the spice industry.

Findings show that “inability to meet quality requirements” has been established as the most significant risk in the Sri Lankan spice industry. On the other hand, “vertical integration” (backward integration) has been discovered as the key mitigation strategy to ameliorate the effects of supply chain risks in this sector.

This study is exploratory, and more empirical data and statistical analyses are needed to further validate the outcomes of the study.

Despite being one of the largest trade exporters in Sri Lanka, the spice industry gets scant attention to the identification and mitigation of the risks. The authors explored the supply chain risks in the spice industry and then prioritized the suitable mitigation strategies using an integrated AHP-TOPSIS method.

In spite of its potential benefits in a wide range of situations, supply chain risk mitigation strategies have received scant attention on the subject of managing the supply chain risk in the business environment. Especially, there is still a limited understanding of the importance of firms’ supply chain flexibility, resilience and responsiveness in the supply chain risk management (SCRM) literature. This research focuses on exploring the relationship between significant proactive risk mitigation strategies, namely supply chain (SC) flexibility, resilience and responsiveness, as well as SCRM performance to facilitate bridging the gap between mitigation strategies and SCRM performance. The moderating role of risk management (RM) culture was also hypothesized and tested.

A survey-based methodology is adopted. The data are analyzed using the technique of partial least squares.

The results indicate that SC resilience and responsiveness are positively associated with SCRM performance; however, SC flexibility does not. In addition, interestingly, RM culture does not moderate these relationships in spite of the extant literature. We argue that this could be due to the fact that risk management culture is at the beginning stage for an enterprise in Turkey.

This study extends the existing literature by advancing the knowledge on the relationship between proactive risk management strategies, which applied to overcome uncertainties and SCRM performance.

The purpose of this paper is to present a methodology to analyze the risks present in perishable food supply chain and to determine the most effective risk mitigation strategies. It is achieved by understanding the dynamics between various risks in perishable food supply chain and modeling them using interpretive structural modeling (ISM).

Four categories and 17 types of risk are established from literature and conducting brainstorming sessions with managers/engineers in Indian dairy firms. A methodology is proposed using ISM, risk priority number and risk mitigation number to prioritize risk mitigation strategy decisions for the dairy industry.

For a perishable food supply chain, risk positioned at lower levels (levels 1 or 2) in the hierarchy should be targeted first, while formulating mitigation strategies. To investigate further, risk- enabling factors which are identified for an Indian dairy firm for these levels 1 and 2 risks and mitigation strategy prioritization show that supplier side risks are more dominant followed by market risks and process risks.

This proposed methodology has not been statistically validated or empirically tested, and factors taken are in the Indian context, but the authors believe that the study is highly relevant to other markets as well because the ISM-based analysis is for generic perishable food supply chain environment.

This study provides a useful approach to managers/decision makers to identify, analyze and prioritize risk in the supply chain. It also provides insights into the mutual relationships of supply chain risks which would help them to focus on the effective risk mitigation strategies formulation. The study provides the insights to benchmark and risk management in the dairy industry environment with priority considerations.

This paper provides an integrated approach to identifying, quantify, analyze, evaluate and mitigate the risks of perishable food (in the dairy environment) in the Indian context.

Firms can choose from an array of approaches for reducing the detrimental financial effects caused by unfavorable fluctuations in commodity prices. The purpose of this paper is to provide guidance for effectively estimating the financial effects of mitigating commodity price risk volatility (CPV) in supply chain management decisions.

This paper adopts two prominent and complementary methodologies, namely, total cost of ownership (TCO and real options valuation (ROV), to illustrate how commodity price risk mitigation strategies can be analyzed with respect to their effect on costs and performance. The paper provides insights through a case study to demonstrate the application of these methods together and establish the benefits and challenges associated with their implementation.

The paper illustrates advantages and disadvantages of TCO and ROV and how these approaches can be adopted together to contribute to effective purchasing decisions. Supply chain flexibility is a key capability but requires investments. Holistically measuring the financial effects of flexibility investments is imperative for gaining executive management support in mitigating commodity price volatility.

This study can provide supply chain professionals with useful guidance for measuring the costs and benefits related to developing strategies for mitigating commodity price volatility. TCO provides a focus on the costs associated with the commodity purchasing process, and ROV enables the aggregation of all the costs and benefits associated with the use of the strategy and synthesizes them into the net value estimate.

The paper provides a comparison of different but complementary approaches, specifically TCO and ROV, for analyzing the effectiveness of CPV risk mitigation decisions. In addition, these two methods allow supply chain professionals to evaluate and control the financial effects of CPV risk, particularly the impact of mitigation on firm’s cash flows.

The purpose of this study is to identify the risks that exist in halal meat supply chain activities and to carry out a risk assessment using the fuzzy best-worst method (FBWM) along with mitigating risks using the risk mitigation number (RMN).

The method used is to collect several literature reviews related to the halal meat supply chain, which has information relevant to the risks of the meat industry in Indonesia. Then, a focus group discussion was held with several experts who play a role in the meat industry in Indonesia, and 33 identified risks were identified in halal meat supply chain activities. The proposed methodology uses FBWM and RMN in conducting risk assessment and mitigation in the meat industry in Indonesia.

The analysis reveals that priority risk is obtained by using the global weight value on the FBWM, and then risk mitigation is carried out with RMN. Priority mitigation strategies can mitigate some of the risks to the meat industry in Indonesia. The proposed mitigation strategy is designed to be more effective and efficient in preventing risks that can interfere with product halalness in halal meat supply chain activities in the Indonesian meat industry.

The implications of this study highlight the need for collaboration among stakeholders, improved risk assessment methodologies and the expansion of research into other halal supply chains. By addressing these implications, the halal industry can enhance its integrity, consumer confidence and overall contribution to the global market.

This research provides an integrated approach to identifying, analyzing, assessing and mitigating risks to the meat industry in Indonesia.

To build resilient supply chains, buyers should implement risk mitigation tactics. The purpose of this paper is to provide insights into the risky decision-making process that underlies buyers’ decisions to adopt supply risk mitigation tactics for creating supply-side resilience.

The authors employ experimental scenarios to simulate supply disruptions of low and high likelihood. The authors then assess buyers’ decisions to adopt supply risk mitigation tactics in response to these scenarios.

The authors find that buyers’ perceptions of supply disruption likelihood are positively related to their adoption of buffer- and process-oriented risk mitigation tactics and preference for process-oriented risk mitigation tactics. Conversely, risk propensity negatively affects buyers’ adoption of buffer- and process-oriented mitigation tactics.

Beyond risk perceptions, the authors consider how risk propensity also affects the risky decision-making process. Moreover, whereas previous studies often focus on a single mitigation tactic, the authors study buyers’ adoption of multiple buffer- and process-oriented risk mitigation tactics to create supply-side resilience.