Creating Resilient Supply Chains through a culture of measuring
Funding for this project was provided by CAPS Research, Tempe, Arizona, USA, under the project title “Measuring and Managing Risks in Supply Chains”, November 2017–April 2019.
Journal of Purchasing and Supply Management
Supply chains -- risk management
The COVID-19 pandemic and the ensuing disruptions to global supply chains have brought risk management to the fore. While guidance on risk management is proliferating, an area that is largely untapped is risk measurement. The pandemic has made us realize the criticality of risk measurement and the need to develop a culture of continuous measuring. Based on our interviews with purchasing and supply management (PSM) professionals about how they measure and manage risk, we offer a framework integrating how to rethink risk measurement, how to continuously measure risk, how to translate measurement into action, and how to establish a culture of continuous measuring. It captures a shift in mindset that is needed to truly take risk measurement to the next level. Once this is accomplished, it can help PSM professionals build more resilient supply chains.
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Locate the Document
Schoenherr, T., Mena, C., Vakil, B., & Choi, T. Y. (2023). Creating resilient supply chains through a culture of measuring. Journal of Purchasing and Supply Management, 100824.