Supply chain risk management and performance - A guiding framework for future development
Purpose - The purpose of this paper is to examine the constructs underpinning risk management and explores its application in the supply chain context through the development of a framework. The constructs of performance and risk are matched together to provide new perspectives for researchers and practitioners. Design/methodology/approach - The conceptual and empirical work in the supply chain management field and other related fields is employed to develop a conceptual framework of supply chain risk management (SCRM). Risk in the supply chain is explored in terms of risk/performance sources, drivers, consequences and management responses, including initial approaches to categorizati,in within these. Two empirical cases are used to illustrate the application of the framework. Findings - A new framework is presented that helps to integrate the dimensions of risk and performance in supply chains and provide a categorisation of risk drivers. Research limitations/implications - SCRM is at an early stage of evolution. The paper provides a clarification of the dimensions and constructs within this field together with directions for future research and development. Practical implications - The focus on performance in terms of efficiency and effectiveness linked to risk drivers and risk management responses provides insights to managing and measuring risk in supply chains. O riginality/value - The paper consolidates the work in an emerging strand of supply chain management. Two key challenges facing the research community are addressed, the ability to prescribe strategies to address particular risk drivers and the interaction of risk management and performance.