Submitted by Daniel Dumke on Wed, 2011-01-05 13:59
Paper
On The Quantitative Definition of Risk
Published In:
Risk Analysis
Year:
1981
What is risk anyway?
I read this paper already some time ago. It is very important to have a clear definition of the terms used in research. But from my previous experience I know that also in business a clear understanding of the different aspects of risks is important to stay consistent.
While cleaning out some of my blog directories, I just found this article in my backup repository, I already wrote it over a year ago, but it still seems relevant. So without further ado: In their 2009 article Jörn-Henrik Thun and Daniel Hoenig from the Industrieseminar Mannheim (link only in German), present their research on Supply Chain Risk Management within the German automotive industry.
Supply chain design and optimization has been covered in this blog to a great extend. The concept of design implicitly assumes that there is at least one designer, who decides how the desired “optimal” supply chain design should look like.
Defining a supply chain as a group of legally independent companies, shows that the complexity in this decision process might be drastically increased, since one has to include multiple players and their goals in the process.
“Management Development and the Supply Chain Manager of the Future” by J. Mangan and M. Christopher (2005) aims to bridge the gap between current offerings of knowledge providers (eg. universities), current capabilities of users (eg. students and managers) and buyers (aka. companies).First it seems to be a good idea to get an impression of the demographics of the current supply chain managers.
In today’s post I would like to highlight how the concepts of resilience and sustainability can be aligned.
Resilience is often interpreted as a property of a supply chain most often associated in a risk management sense; sustainability on the other hand, usually refers more to social and environmental goal orientation. So how can these concepts be aligned?
Resilience developed to one of the dominating concepts in supply chain risk management and this review takes a different look on corporate resilience by viewing it from a psychological perspective.
Why do some people and some companies buckle under pressure? And what makes others bend and ultimately bounce back?
Today I review “How Resilience works” by Diane Coutu, a summary of which can be found here.
Many companies are struggling with the idea to use modern optimization techniques to support decision making in strategic supply chain management.
But beside mathematical modeling of the supply chain there are other methods as well, such as network based approaches. In their 2005 paper Blackhurst, Wu and O’Grady present a more intuitive decision support method with the goal to improve decisions within the supply chain context.
There are only very few studies, which investigate the impact of research in business has on the actual research field.
In other fields the impact is easily seen. Without research there would be no modern medicine, without research there would be no buildings rising 800m and more.
But where would business be without research in the business and economics sciences?
