Risk Management in the Supply Chain

Abstract

 Supply chains in today’s global and interconnected markets face numerous risks and uncertainties, making Supply Chain Risk Management (SCRM) a vital strategic priority for organizations. This paper reviews existing literature on SCRM, focusing on core concepts, different categories of risk, assessment techniques and mitigation strategies. It explains that supply chain risks may arise from operational factors and unexpected disruptions. To address these challenges, organizations apply structured risk management processes, including risk identification, evaluation, mitigation and continuous monitoring which help reduce vulnerability and improve resilience. The review also traces the evolution of SCAM from traditional reactive responses to more proactive and resilience-based approaches. Modern frameworks increasingly rely on quantitative models and decision -support systems to anticipate and manage potential threats more effectively. The findings suggest handling disruptions but a strategic capability that enhances overall supply chain performance and competitiveness. The paper ultimately stresses the importance of developing integrated, flexible and adaptive risk management frameworks tailored to complex global supply networks.