Supply Chain Risk Management (SCRM): A Simplified Alternative for Implementing SCRM for Small and Medium Enterprises
Recent changes in supply chains, especially globalization and collaboration, have created new risks for enterprises of all sizes. A variety of complex frameworks, often based on enterprise risk management strategies have been presented under the heading of Supply Chain Risk Management (SCRM). The literature promotes the benefits of a robust SCRM strategy, however, implementing SCRM is difficult and is resource demanding for Large Enterprises (LEs), and essentially out of reach for Small & Medium Enterprises (SMEs). This research debunks the idea that SCRM is necessary for all enterprises and instead proposes a simple and effective Vendor Selection Template (VST). Empirical testing and a survey of supply chain practitioners provide a measure of validation to the VST. The resulting VST is a valuable contribution because is easy to use, provides practical results, and is sufficiently flexible to be universally applied to SMEs.
30 Nov -0001
Transportation equipment manufacturing Management of companies and enterprises
Strategic Research Theme
Community and Regional Development