Paper Details

Name: Prakash Divakaran, Vandana Mishra Chaturvedi
Country: India

Year: 2023
Volume: Volume-10, Issue-2 (July-December)
Page Number: 105-112

ABSTRACT
Risk management strengthens supply chains. Natural catastrophes, political upheaval,
pandemics, and failing suppliers may disrupt the global supply chain. Supply chain risk
management solutions may minimize supply chain risks. This study indicates that supply
chain risk management may reduce disruptions and boost resilience. Supply chain issues are
listed. The study then covers identifying, analyzing, mitigating, and monitoring supply chain
risks in a framework. Technology reduces supply chain dangers. Data analytics, AI, IoT, and
blockchain are examined to enhance supply chain visibility, predictive analytics, and realtime monitoring. The report emphasizes supply chain risk management cooperation and
teamwork. Supply chain players—suppliers, manufacturers, distributors, and consumers—
must communicate, collaborate, and manage risk. Supply chain risk management case studies
and guidelines are offered. These examples show how risk management may reduce supply
chain interruptions, boost resilience, and reduce the effect of unexpected occurrences. This
article discusses data privacy, regulatory compliance, cultural hurdles, and supply chain risk
management cost-effectiveness. Businesses must strike a balance between minimizing risk
and optimizing operations to provide a flexible and reliable supply chain. In conclusion,
supply chain risk management helps firms avoid disruptions, improve resilience, and ensure
business continuity. Organizations may safeguard their supply networks by proactively
identifying, assessing, and mitigating risks. Advanced technology and stakeholder
engagement improve the capacity to foresee, react, and recover from disturbances, enabling a
resilient and sustainable supply chain ecosystem.
Keywords— Supply Chains, Technological, Digital Security and Privacy, Digital
Environment, Risk Management, Technology Privacy.