Supply Chain Risk Management:A novel model for Supply Chain Risks classification and assessment

Supply chain networks are exposed to various kinds of risks that lead to huge losses for companies. Therefore, risk identification, assessment, and management is a critical approach to mitigate the adverse impact of potential risks. In this study, a novel classification of identified risks is presented. Then, several techniques are implemented to rank risks versus their various impacts. We propose a new assessment method based on hazard intensity and the resources spent to mitigate risks. In this method, risks lead to the least loss and waste fewer resources which result from an efficient assessment. Since, risk is associated with uncertainty. Our study lies in a fuzzy area. A new approach with Fuzzy FMEA technique has been applied to measure supply chain risks. It shows the superiority and efficiency of the proposed model. In our case study, the Data were gathered from an alloy steel industry

Keywords:

Supply chain , Risk management , Resource management , Risk Efficiency Index (REI) , Fuzzy TOPSIS , FFMEA