Supply Chain Risk Management: Literature Review

The risks associated with global supply chain management has created a discourse among practitioners and academics. This is evident by the business uncertainties growing in supply chain management, which pose threats to the entire network flow and economy. This paper aims to review the existing literature on risk factors in supply chain management in an uncertain and competitive business environment. Papers that contained the word risk in their titles, keywords, or abstracts were selected for conducting the theoretical analyses. Supply chain risk management is an integral function of the supply network. It faces unpredictable challenges due to nations' economic policies and globalization, which have raised uncertainty and challenges for supply chain organizations. These significantly affect the financial performance of the organizations and the economy of a nation. Debate on supply chain risk management may promote competitiveness in business. Risk mitigation strategies will reduce the impact caused due to natural and human-made disasters.

Automated summary

The risks associated with global supply chain management have led to discussions among practitioners and academics, with growing uncertainties in the business impacting the entire network flow and economy. Supply chain risk management is crucial for supply networks, facing challenges from nations' economic policies and globalization that introduce uncertainty and challenges for organizations. Effective risk mitigation strategies can help reduce the impact of natural and human-made disasters on financial performance and national economies.