Assessing and managing risks using the Supply Chain Risk Management Process (SCRMP)

Purpose The purpose of this paper is to propose a comprehensive and coherent approach for managing risks in supply chains. Design/methodology/approach Building on Tummala et al. 's Risk Management Process (RMP), this paper develops a structured and ready‐to‐use approach for managers to assess and manage risks in supply chains. Findings Supply chain risks can be managed more effectively when applying the Supply Chain Risk Management Process (SCRMP). The structured approach can be divided into the phases of risk identification, risk measurement and risk assessment; risk evaluation, and risk mitigation and contingency plans; and risk control and monitoring via data management systems. Specific techniques for…