Application of Analytical Decision Models for Managing Supply Chain Risk

This poster explains the impact of efficient decision models for managing disruption on supply chains as a serious challenge for today supply continuity which strongly affects both the performance of the whole process and the preservation of the shareholder value. Risk is unwillingly inherent within supply chain and its nodes because of the complexity of networks, uncertainties and unforeseen events. However, by understanding the sources of risk and prioritizing them, firms can take a proactive view for reducing and managing these risks. The poster therefore examines the fundamental causes of risk and analyses basic approaches with regard to managing supply, demand, information and product as well as techniques for measuring and assessing risk. In order to meet the needs of customers timely, an efficient strategy, which could cover the whole of the network, is definitely invaluable. To mitigate risk and disruption costs, implementation of a decision support system is likely to be used in the supply chain. It facilitates managers to observe the primary results from the system and through its knowledge-base and conflict resolution support models, enables them to take the efficient decisions with regard to the existing situation as well.