Burapha University International Conference, BUU-2014

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Young Logistics Management Professionals and Supply Chain Risk Management (SCRM)
Hermann Gruenwald

Last modified: 2014-06-10

Abstract


Supply Chain Risk Management (SCRM) deals with everyday risks and unusual risks that deal with the supply chain and its possible interruption. The purpose of supply chain risk management is business continuity and minimizing the interruption of the supply chain, or the impact of any possible interruption. Risks cannot always be avoided, many times the risk are out of human control as in the case of natural disasters But risks can be managed  through techniques of sharing, transferring, reduction and to a certain extend where possible avoided or mitigated. The impacts of the risks on the supply chain can be reduced in terms of degree and velocity. This paper looks at the perception of young logistics professionals in relation to supply chain risks, both natural and man-made risks. Natural disaster may include events such as heavy rains which lead to floods, wind storms, snow storms, ice, mud slides, earthquakes, tsunami, eruptions many of these events result in fires.  Manmade disasters range from accidents of all kind, car, truck, train, airplane crashes, piracy, hijackings, terrorist acts, geopolitical events, unrests, riots, civil war, and war to financial risks, commodity manipulations, to nuclear accidents, disease and epidemics. The paper also looks at the general aptitude of logistics professionals in dealing with risk and danger. How much risk danger do those logistics professionals accept and expose themselves in their personal lives? Are logistics professionals more of a risk taker and are they willing to accept higher risks in their personal and professional lives. How do they deal with daily risks such as accidents and how well are they prepared to deal with supply chain operational accidents, catastrophes and strategic uncertainties? What are the lesson learned and industry best practices when it comes to supply chain risk and business continuity management?