Development of risk mitigation tool to mitigate risks in supply networks
Abstract
There are different risks in a company's supply chain. From down-stream to up-stream, the supply chain is not a chain anymore. It has evolved to a more complicated and intricate web of flow of goods and information. When dealing with these intricate paths, there is always an associated risk in the supply chain that is caused by some disruption in the flow of goods and information. It is essential for any organization to attempt to prevent these risks. One way to prevent these risks is by using risk mitigation and business impact analysis tools. Risk mitigation and business impact analysis tools may be used to try to identify both current and potential risks that may arise to disrupt an organization's business operation. This thesis was a product of a project that was conducted in a global manufacturing company. The project was to create a risk mitigation and business impact analysis tool which the company could use to evaluate suppliers in future. The purpose of this tool is to assess the different risks contributed by each supplier and measure the potential business impact that could be caused by each supplier. This project was performed in three phases. Phase one focused on the tool creation. This thesis will detail the various steps use to develop this tool and also the formulae used to achieve the decision metrics. Phase two focused on the administration of the tool to the suppliers and the gathering of the data from the suppliers using two focus groups. Basic statistical analysis was also performed on the data gathered from the suppliers. The final phase, phase three focused on gathering information from the two focus groups and optimizing the tool for future use.
Degree
M.S.
Advisors
Newton, Purdue University.
Subject Area
Management
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