Outlook · Volume 7 · 2009

Investigation on futuristic supply chain risk management initiatives for loss reduction in manufacturing organisations

Dharmalingam Elangovan
Karpagam College of Engineering
India
Gopalswamy Sundararaj
Samuel Rajkumar Devadasan, Psg College of Technology
India
Palanisamy Karuppuswamy
Sri Ramakrishna Engineering College
India
Abstract

Manufacturing organisations are expected to produce their products with prompt delivery to satisfy their customers by using better supply chain activities. Starting from procurement of raw materials to the delivery of final products, there is inevitable losses due to various issues in supply chain activities and its executions. Ultimately, these issues are causing time delay in the entire manufacturing cycle. Thus, it is essential to study, understand and track the various expected risk events in supply chain executions for loss reduction and continuous improvement. Hence, organisations must pay more attention in futuristic supply chain risk management initiatives for better, systematic and dynamic executions using appropriate strategies. This paper investigates time delay issues in supply chain executions of manufacturing organisations with an elaborate discussion on various forms of expected risk events. It also suggests more dynamic models for risk mitigation with a future scope of risk prevention towards continuous improvement.

Keywords
Supply ChainSupply Chain ManagementRiskRisk ManagementRisk MitigationLoss reductionContinuous Improvement