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Strategic Risk Management in Global Supply Chains: Lessons from Market Disruptions

Author(s) Jay Patel
Country United States
Abstract Global supply chains have become increasingly complex and interconnected, making them more vulnerable to disruptions from geopolitical instability, natural disasters, trade wars, and public health crises, such as the COVID-19 pandemic (McKinsey & Co., 2022). This paper explores strategic risk management practices in global supply chains, focusing on risk identification, mitigation strategies, and crisis management. It examines how companies can strengthen supply chain resilience through diversification, digital tools, and predictive analytics (McKinsey & Co., 2022). The paper includes case studies from leading multinational corporations and outlines future trends in supply chain risk management. The study also explores the role of emerging technologies such as artificial intelligence (AI), machine learning, and blockchain in improving supply chain visibility and responsiveness. Furthermore, it evaluates the growing influence of environmental, social, and governance (ESG) criteria in supply chain risk management and how businesses are adapting to increased stakeholder pressure for transparency and sustainability (World Economic Forum, 2022).
Keywords Strategic risk management, supply chain resilience, global supply chains, market disruptions, geopolitical risks, trade wars, natural disasters, supply chain diversification, inventory buffering, supply chain mapping, end-to-end visibility, blockchain, artificial intelligence (AI), machine learning, predictive analytics, financial hedging, business continuity planning, crisis management, operational resilience, supplier risk profiling, ESG criteria
Field Business Administration
Published In Volume 4, Issue 2, February 2023
Published On 2023-02-03
Cite This Strategic Risk Management in Global Supply Chains: Lessons from Market Disruptions - Jay Patel - IJLRP Volume 4, Issue 2, February 2023. DOI 10.5281/zenodo.15074414
DOI https://doi.org/10.5281/zenodo.15074414
Short DOI https://doi.org/g89h59
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