AffiliationNottingham Trent University
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AbstractA significant feature of the rapidly evolving business climate spurred on by significant technology shifts, innovation, communication technologies and globalization, is the increasing prevalence of risk in almost every aspect of our lives. Whether real or imagined, we perceive greater exposure, increased likelihood and more severe consequences of already known risks whilst becoming aware of other risks previously unknown. FM Global (2007) concluded from their study of the views of 500 financial executives in Europe and America that most anticipated an increase in overall business risks in the foreseeable future. The top three risk areas featured global competition, supply chains and property-related risks. Individual organizations are continuously receiving information inputs identifying new risk sources, enhanced exposure to existing risks and escalating costs associated with compensation should such risks materialize. The emergence of risk management is an important response to such developments providing a contribution to most fields of management decision and control (e. g. Smallman, 1996; Giannakis et al., 2004). Supply Chain Risk Management (SCRM) represents the risk management response primarily to supply chain risks, although as will be seen later in the chapter, it has a much wider influence at the strategic enterprise risk level.
CitationBRINDLEY, C.S. and RITCHIE, R.L., (2009) Effective management of supply chain risk and performance., Managing supply chain risk vulnerability. In: T. WU and J. BLACKHURST, eds., Managing supply chain risk vulnerability.New York: Springer, pp. 9-26.