Risk readiness and resiliency planning for a supply chain

This paper proposes supply chain (SC) risk readiness and resiliency measures and formulates a model for planning and controlling select internal business factors to create desired risk resiliency in order to avert potential risks and mitigate their after-effect. SCs may be exposed to events that affect their business operations, and primarily impact the production processes (i.e. production-related risks), or events (such as natural calamities or terrorism) that affect the way the business interacts with the market, and primarily impact the transportation and distribution processes (i.e. market-related risks). Although a business cannot control such disasters as natural calamities or terrorism, it is possible to identify and control the factors that are responsible for production-related risks and that influence several market-related risks or disasters. The proposed model and the measures will guide SCs through the process of identification, planning and controlling the internal factors that make the cha...