Strategies for supply chain risk management /
Yi Li, Ju'e Guo, and Kin Keung Lai.
- 1 online resource.
- Routledge advances in risk management .
"Examining the negative consequences that arise from supply chain risks, such as production interruption and profit shrinkage, this book systematically explores firms' responses to these risks in different practical situations. In particular it focuses on sourcing strategies of firms under supply chain risks and the different mitigation tools they use, such as supplier development and multisourcing. Supply chains have expanded extensively as firms attempt to find new markets and cheap resources all over the world. Under the pressure of cost reduction, many firms try to take advantage of outsourcing of their raw materials and critical components. Though firms can reap significant benefits due to the globalization of supply chains and the widespread use of outsourcing, they have to deal with increasing and intensifying supply chain risks. In general, supply chain risks are various and may be originated from natural disasters, machine breakdowns, labor strikes, fires, etc. These risk incidents can cause serious damage to firms' profit performance. The analysis and insights from this book can be utilized by firms to alleviate the impact of supply chain risks in the sourcing process. It will also be of interest to researchers and students studying supply chain management"--