A Comprehensive Risk Assessment and Evaluation Model: Proposing a Risk Priority Continuum
Supply chain risks continue to affect global operations, with no promise of abating in the foreseeable future. While past studies have examined elements of supply chain risk, many have focused on only the likelihood of a risk occurring and/or the impact of the risk. This research outlines a more rigorous risk assessment and evaluation process, one that builds upon the reliability engineering field and includes an additional risk factor, the probability of risk detection. By using the proposed process, managers can create a risk priority continuum, which can lead to the development of better risk mitigation strategies. Given that not all risks are the same, this article provides a tool for assessing and prioritizing risks to enable managers to achieve desired risk prevention levels as well as to offer faster recovery from risks that actually occur.
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Availability:
- Find a library where document is available. Order URL: http://worldcat.org/oclc/1588960
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Supplemental Notes:
- Copyright © 2012 This abstract is reprinted by permission of The Pennsylvania State University Press.
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Authors:
- Griffis, Stanley E
- Whipple, Judith M
- Publication Date: 2012
Language
- English
Media Info
- Media Type: Web
- Features: Figures; References; Tables;
- Pagination: 428-451
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Serial:
- Transportation Journal
- Volume: 51
- Issue Number: 4
- Publisher: American Society of Transportation and Logistics
- ISSN: 0041-1612
- Serial URL: https://scholarlypublishingcollective.org/psup/transportation-journal
Subject/Index Terms
- TRT Terms: Evaluation and assessment; International transportation; Risk assessment; Risk management; Strategic planning; Supply chain management
- Subject Areas: Administration and Management; Freight Transportation; Security and Emergencies; I10: Economics and Administration; I82: Accidents and Transport Infrastructure;
Filing Info
- Accession Number: 01522101
- Record Type: Publication
- Files: TRIS
- Created Date: Apr 17 2014 10:48AM