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A General Framework for Evaluating Supply Chain Resilience
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As the frequency of supply chain disruptions rises, businesses are increasingly realizing the value of supply chain resilience. A number of efforts has been devoted to define supply chain resilience or to develop risk mitigation strategies in order to maximize supply chain resilience. However, very few scholarly work has attempted to address how supply chain resilience should be quantified. This paper is dedicated to fill this gap by proposing a general framework for evaluating supply chain resilience. The proposed framework captures risks involved in the supply, the demand, the firm itself, and the external environment. In addition to risks, the framework also relates resilience to the supply chain’s risk prognosis capabilities, recover agility and recover time tolerance. Two example applications are used to demonstrate how this framework can be utilized to assess the effectiveness of risk mitigation strategies in supply chain design.
American Society of Mechanical Engineers
Title: A General Framework for Evaluating Supply Chain Resilience
Description:
As the frequency of supply chain disruptions rises, businesses are increasingly realizing the value of supply chain resilience.
A number of efforts has been devoted to define supply chain resilience or to develop risk mitigation strategies in order to maximize supply chain resilience.
However, very few scholarly work has attempted to address how supply chain resilience should be quantified.
This paper is dedicated to fill this gap by proposing a general framework for evaluating supply chain resilience.
The proposed framework captures risks involved in the supply, the demand, the firm itself, and the external environment.
In addition to risks, the framework also relates resilience to the supply chain’s risk prognosis capabilities, recover agility and recover time tolerance.
Two example applications are used to demonstrate how this framework can be utilized to assess the effectiveness of risk mitigation strategies in supply chain design.
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