TITLE:
An Integrated Fuzzy Approach for the Evaluation of Supply Chain Risk Mitigation Strategies
AUTHORS:
Xiaojun Wang
KEYWORDS:
Supply Chain Risk, Strategy Evaluation, Fuzzy Risk Assessment, Delphi
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.2 No.9,
August
27,
2014
ABSTRACT:
Competing in an increasingly uncertain
business environment, organizations need to mitigate its supply chain risks to
enhance their resiliency. However, it is important to implement appropriate
strategies to meet business needs. This paper presents a novel approach that
integrates fuzzy risk assessment and fuzzy Delphi for the evaluation of
strategies in order to mitigate supply chain risks. The novelty of the model
lies in the fact that an analytical tool enables the specific business preferences
concerning supply chain risks to be taken into consideration in making the
strategic decisions. It provides a practical solution by which companies can
systematically assess the risks involved in the supply chain and select
appropriate strategies to address them.