IRMA-International.org: Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Risk Management in Supplier Selection: A FMEA-Based Approach for Retail Supply Chain

Risk Management in Supplier Selection: A FMEA-Based Approach for Retail Supply Chain
View Sample PDF
Author(s): Zhong Hua Zhang (Concordia University, Canada)and Ehsan Sharifnia (Concordia University, Canada)
Copyright: 2020
Pages: 26
Source title: Handbook of Research on Interdisciplinary Approaches to Decision Making for Sustainable Supply Chains
Source Author(s)/Editor(s): Anjali Awasthi (Concordia University, Canada)and Katarzyna Grzybowska (Poznan University of Technology, Poland)
DOI: 10.4018/978-1-5225-9570-0.ch017

Purchase

View Risk Management in Supplier Selection: A FMEA-Based Approach for Retail Supply Chain on the publisher's website for pricing and purchasing information.

Abstract

Risk management issues have been widely researched in areas such as system engineering, business management, financial planning, market research, and service industry. Many approaches have been proposed to reduce or minimize risks, maintain productivity or profitability in organizations. However, different risk management strategies are needed under different situations and different industries. In this chapter, the authors address the theme of risk management in supply chains. They begin by reviewing the metrics of supply chain performance, followed by design and development of supplier relationship management process, and a failure modes and effects analysis (FMEA)-based approach to identify and evaluate the potential risks in the process of commodity procurement. After analyzing the causes and effects of potential risks in procurement, they develop a strategic plan to monitor and control risk management and implement continuous improvement. A case study is provided for supplier selection and buyer-supplier relationship management.

Related Content

Hamed Nozari. © 2024. 13 pages.
Maryam Rahmaty. © 2024. 13 pages.
Mahmonir Bayanati. © 2024. 13 pages.
Kamalendu Pal. © 2024. 33 pages.
Kamalendu Pal. © 2024. 35 pages.
Aminmasoud Bakhshi Movahed, Ali Bakhshi Movahed, Hamed Nozari. © 2024. 31 pages.
Esmael Najafi, Iman Atighi. © 2024. 11 pages.
Body Bottom