Development of futuristic supply chain risk management pilot strategies for achieving loss reduction in manufacturing organisations
| Date | 01 March 2011 |
| Published date | 01 March 2011 |
| Pages | 39-51 |
| DOI | https://doi.org/10.1108/20425961201000004 |
| Author | D. Elangovan,G. Sundararaj,S.R. Devadasan,P. Karuppuswamy |
| Subject Matter | Public policy & environmental management |
World Journal of Enterprenuership, Management and Sustainable Development, Vol. 6, Nos. 1/2, 2010
39
Copyright © 2010 WASD
Abstract: Manufacturing organisations are expected to produce their products
with prompt delivery using better supply chain activities. Starting from the
procurement of raw materials to the delivery of final products, there are inevitable
losses occurring due to major time delays in supply chain activities. Hence it is
essential to study, understand and track these major time delays by developing
futuristic supply chain risk management strategies. This paper reports a research
which was conducted to meet this requirement. During this research, major time
delays were investigated by conducting a questionnaire supported interview based
survey in 15 manufacturing organisations. On analysing the responses, pilot
strategies for achieving loss reduction have been proposed. The paper is concluded
by pointed out the necessity for developing dynamic models for achieving loss
reduction and continuous improvement.
Keywords: Supply chain, supply chain management, risk, risk management, risk
mitigation, major time delays, loss producing events, loss reduction, continuous
improvement
D. Elangovan*1, Karpagam College of Engineering, Coimbatore, India
G. Sundararaj2, PSG College of Technology, Coimbatore, India
S. R. Devadasan3, PSG College of Technology, Coimbatore, India
P. Karuppuswamy4, Sri Ramakrishna Engineering College, Coimbatore, India
DEVELOPMENT OF FUTURISTIC SUPPLY
CHAIN RISK MANAGEMENT PILOT
STRATEGIES FOR ACHIEVING LOSS
REDUCTION IN MANUFACTURING
ORGANISATIONS
INTRODUCTION
Global market influences the role of the
cooperation, coordination and consistent
integration of various activities along
the supply chain in order to reduce the
likelihood of risk events. On the other hand,
manufacturing organisations are in need to
implement the risk management practices to
observe a key challenge that lies in the trade-
off between opportunity and loss (Schwab and
Schwab, 1997). Thus continuous monitoring
1*Department of Mechanical Engineering, Karpagam College of Engineering, Othakkal Mandapam (PO),
Coimbatore – 641 032, Tamil Nadu, India, E-mail: delangovan_cbe@rediffmail.com
2Department of Mechanical Engineering, PSG College of Technology, Coimbatore – 641 004, Tamil Nadu, India,
E-mail: gsraj_558@yahoo.com
3Department of Production Engineering, PSG College of Technology, Coimbatore – 641 004, Tamil Nadu, India,
E-mail: devadasan_srd@yahoo.com
4Department of Mechanical Engineering, Sri Ramakrishna Engineering College, Coimbatore – 641 022, Tamil Nadu,
India, E-mail: pkaruppuswamy_cbe@rediffmail.com
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