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Efficiency-oriented risk prioritisation method for supply chains in series production

  • Efficiency in supply chain risk management (SCRM) is a major topic in industries with serial production and a complex supply chain due to limited management and financial resources. A high number of possible risk situations and intertwined processes create a more challenging environment for resource allocation. Managers cannot perform SCRM in all possible supply chain areas and hence have to decide where available resources should be utilised for highest possible risk reduction. This makes it important to quickly and systematically evaluate input and output relationships among risk mitigation actions to determine which actions are deployed first for efficient risk level reduction. This paper introduces a new SCRM method based on the failure mode and effects analysis (FMEA) in order to perform an efficiency-oriented risk action prioritisation. By considering the cost-benefit evaluation of identified risk mitigation actions for each assessed risk and by determining the implementation effort for risk mitigation actions, also considered as the cost for realising a specific risk action the method allows finding those risk and risk mitigation actions, which are most efficient for risk reduction and should be implemented first in the process of risk steering.

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Author of HS ReutlingenPalm, Daniel
Erschienen in:Resource efficiency for global competitiveness : International Conference on Competitive Manufacturing COMA '16, 27 January - 29 January 2016, Stellenbosch, South Africa ; proceedings
Publisher:Global Competitveness Centre in Engineering, Stellenbosch University
Place of publication:Stellenbosch
Editor:Dimiter Dimitrov, Gert Adriaan Oosthuizen
Document Type:Conference proceeding
Publication year:2016
Tag:FMEA; risk prioritisation; series production; supply chain risk management
Page Number:6
First Page:417
Last Page:422
DDC classes:330 Wirtschaft
Open access?:Ja