Deciding on Uncertainty: How Supply Chain Risk and Decision Making Interact

Abstract

As the supply chain becomes more advanced, it also opens itself up to more opportunity for risk. Managers need to understand what factors affect risk, how to identify potential risk sources, and decision making strategies to help mitigate risk. Managers also need to understand that risk can occurs throughout the entire supply chain, from supplier to customer. This paper will strive to review risk identification and mitigation strategies that will allow managers to start their risk framework. Finally, these strategies will be applied to a consumer packaged goods manufacturer and their customer facing supply chain.