Using flexibility strategies to mitigate tisks in a supply chain

This paper studies flexibility strategies in relation to the risks in a supply chain environment. Having reviewed related literature, the paper identifies six major classes of the risks together with nine flexibility strategy categories. This classification initiates the idea for using appropriate flexibility strategies to mitigate risks concerned. A logical procedure is then proposed to help the implementation of this concept. The paper attempts to elaborate steps included in the procedure. The literature is further reviewed to propose a method to help facilitate the implementation of these steps. The use of two critical factors, predictability and malleability of a business environment, were found much helpful in this repect. The use of these factors and the remanining steps of the suggested procedure are then explained in the paper.

Keywords:

Operations strategy , supply chain , flexibility , risk