Risk Diversification And Risk Pooling In Supply Chain Design Pdf

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risk diversification and risk pooling in supply chain design pdf

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Competition and Diversification Effects in Supply Chains with Supplier Default Risk

We study the effects of disruption risk in a supply chain where one retailer deals with competing risky suppliers who may default during their production lead times. The suppliers, who compete for business with the retailer by setting wholesale prices, are leaders in a Stackelberg game with the retailer. The retailer, facing uncertain future demand, chooses order quantities while weighing the benefits of procuring from the cheapest supplier against the advantages of order diversification. For the model with two suppliers, we show that low supplier default correlations dampen competition among the suppliers, increasing the equilibrium wholesale prices. Therefore the retailer prefers suppliers with highly correlated default events, despite the loss of diversification benefits. In contrast, the suppliers and the channel prefer defaults that are negatively correlated.

C hina and the rest of the world continue to be affected by the outbreak of COVID novel coronavirus , with many more being nursed back to health by dedicated healthcare professionals who work tirelessly around the clock. Millions are displaced regionally and globally due to cautionary guidelines and travel restrictions. Global routes of all forms of transportation are temporarily disrupted for both businesses and everyday commuters. A pandemic outbreak of this magnitude has caught companies and whole industries off guard, with a shockwave of ripple effects tearing through their supply chains and businesses. From a consumer angle, many companies suddenly do not have a clear demand signal as the outbreak has completely changed buying behaviors and patterns. In numerous industries, demand has dropped substantially or moved to online channels. Due to health risks and personnel displacement, manufacturers are struggling to staff for normal operating capacity as labor challenges arise following a period of temporary factory shutdowns.

Not a MyNAP member yet? Register for a free account to start saving and receiving special member only perks. For as long as there have been supply chains, there have been disruptions, and no supply chain, logistics system, or infrastructure network is immune to them. Nevertheless, supply chain disruptions have only recently begun to receive significant attention from practitioners and researchers. Although lean supply chains are efficient when the environment behaves as predicted, they are extremely fragile, and disruptions can leave them virtually paralyzed.

An agile and diversified supply chain: reducing operational risks

Nearly every eighth German hospital faces an elevated risk of bankruptcy. An inappropriate use of inventory management practices is among the causes. Hospitals suffer from demand and lead time uncertainty, and the current COVID pandemic worsened the plight. The popular business logistics concept of risk pooling has been shown to reduce these uncertainties in industry and trade, but has been neglected as a variability reduction method in healthcare operations research and practice. Based on a survey with German hospitals, this study explores how ten risk pooling methods can be adapted and applied in the healthcare context to reduce economic losses while maintaining a given service level.

A Framework for Risk Pooling in Business Logistics

Supply Management Research pp Cite as. Demand and lead time uncertainty in business logistics increase, but can be mitigated by risk pooling. Risk pooling can reduce costs for a given service level, which is especially valuable in the current economic downturn. The risk pooling literature is extensive, but fragmented and inconsistent and does not provide a sound comprehensive risk pooling definition or framework.

In this paper we address the operational issue of quantity allocation between two uncertain suppliers and its effects on the inventory policies of the buyer. Based on the type of delivery contract a buyer has with the suppliers, we suggest three models for the supply process. Model II is also a one-delivery contract with a random fraction of the order quantity delivered in the current period; the portion of the order quantity not delivered is cancelled.

Recent trends of outsourcing in global competition make the firms vulnerable to operational risks. The purpose of this paper is to illustrate how firms implement supply chain strategies to reduce operational risks, especially risk exposure involving catastrophic events. Drawn on risk management and supply chain research, the concepts of operational risk and the underlying demand and supply uncertainties are delineated. Then, based on literature review and numerical demonstrations, the authors evaluate the effectiveness of supply chain strategies in reducing operational risks. The paper examines the benefit of these strategies and illustrate how to setup risk pooling and dual sourcing programs.

Risk diversification and risk pooling in supply chain design

How Globalization Impacts Supply Chain Management

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A risk pool is one of the forms of risk management mostly practiced by insurance companies. Under this system, insurance companies come together to form a pool, which can provide protection to insurance companies against catastrophic risks such as floods or earthquakes. The term is also used to describe the pooling of similar risks that underlies the concept of insurance.


Risk diversification and risk pooling in supply chain design · Full Article · Figures & data · References · Citations · Metrics · Reprints & Permissions · PDF.


COVID-19: how to build supply chains resilient to disruption

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1 Comments

  1. Agrican P. 19.04.2021 at 23:33

    In recent decades the world has become much, much smaller than it used to be.