Enhancing supply chain resilience: risk assessment and mitigation strategies

The objective of this study is to identify supply chain risks and propose effective risk mitigation strategies in a manufacturing organisation. Unlike traditional methods, which rely on probability-based likelihood models, our approach blends qualitative and quantitative methods and examines supply chain risk mapping, thereby evaluating ‘Time-to-recover’ and ‘Time-to-survive’ as key performance indicators to measure risk. Our approach uncovers hidden risks within the supply chain and suggests that items perceived as low value have a greater impact on supply chain disruption. We further propose risk mitigation strategies tailored to each risk category to minimise the impact of unforeseen disruptions. Practitioners can utilise the study to enhance supply chain resilience for critical components in their organisations.