(pp.057-066) D. Elangovan, G. Sundararaj, S. R. Devadasan and P. Karuppuswamy ‘Investigation on futuristic supply chain risk management initiatives for loss reduction in manufacturing organisations’, World Sustainable Development Outlook, 2009
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 Chain, Supply Chain Management, Risk, Risk Management, Risk Mitigation, Loss reduction, Continuous Improvement