Risk and supply chain management: creating a research agenda

Abstract

Purpose - The aim of this paper is to develop a research agenda for risk and supply chain management. This is achieved by reviewing the literature on supply chain risk and locating it within the general literature on risk. Design/methodology/approach - A review of the general literature on risk and the specific literature on supply chain risk was undertaken. Findings - The paper shows that there are a number of key debates in the general literature on risk, especially in terms of qualitative versus quantitative approaches, which need to be recognised by those seeking to apply risk theory and risk management approaches to supply chains. In addition, the paper shows that the application of risk theory to supply chain management is still in its early stages and that the models of supply chain risk which have been proposed need to be tested empirically. Research limitations/implications - This is a literature review and, therefore, is based on secondary rather than primary sources. Practical implications - The paper proposes a research agenda aimed at developing models of supply chain risk management based on combining the wider theory and practice of risk management with the needs and practices of supply chain management. Originality/value - This paper brings together the literatures on general risk and supply chain risk; and identifies key issues and research questions which need to be addressed in applying risk management to supply chains.