Supply Chain Risk Mitigation and the Application Potential of Complex Systems Approaches

Abstract

Supply chains are becoming more complex and vulnerable. How to mitigate supply chain risks (SCRs) becomes a critical issue in supply chain management (SCM). This paper reviews the researches on SCR mitigation and identifies the current status and limitations. A new framework on SCR mitigation is proposed which intends to draw a clear roadmap for identifying, prioritizing and mapping SCRs to mitigation policies, evaluating and implementing related mitigation policies. Considering the complexities of SCR issues, the paper also elaborates the application potential of complex systems (CS) approaches for SCR mitigation.