Risk Management in A Global Supply Chain

Jianfeng Qiu

2024

Abstract

This essay looks at the diverse subjects of global supply chain risk management (SCRM), which has a significant impact on the economic stability and growth of enterprises and governments. In an era distinguished by multiple difficulties such as political instability, natural disasters, policy upheavals, technology advancements, and pandemics, supply chains confront considerable threats. This essay focuses on the process of risk detection, investigating a wide range of hazards, including natural catastrophes, geopolitical conflicts, technological breakdowns, and market volatility, highlighting the complexity and diversity of risks. The essay also discusses the need to analyze these risks by combining quantitative models and qualitative insights to balance risk and opportunity. A strong emphasis is placed on the transformational effect of new technologies such as artificial intelligence and big data analytics in reinventing SCRM. These technologies provide unprecedented levels of knowledge, foresight, and agility, converting data into an effective tool for predictive analysis and strategic decision-making. To show this transition, the essay uses case examples and expert comments. Furthermore, the essay analyzes the role of business and government policies in building resilient supply networks. It emphasizes a synergistic strategy in which politics and technology work together to create supply chains that are robust, adaptable, and responsive to global threats. Conclusively, the essay provides a detailed exploration of global SCRM, highlighting the importance of adaptation, strategic foresight, and technological integration in managing the complexities of today's global supply chains, contributing to the resilience and sustainability of interconnected economy.

Paper Citation

in Harvard Style

Qiu J. (2024). Risk Management in A Global Supply Chain. In Proceedings of the 1st International Conference on Data Science and Engineering - Volume 1: ICDSE; ISBN 978-989-758-690-3, SciTePress, pages 350-355. DOI: 10.5220/0012838700004547

in Bibtex Style

@conference{icdse24,
author={Jianfeng Qiu},
title={Risk Management in A Global Supply Chain},
booktitle={Proceedings of the 1st International Conference on Data Science and Engineering - Volume 1: ICDSE},
year={2024},
pages={350-355},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012838700004547},
isbn={978-989-758-690-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on Data Science and Engineering - Volume 1: ICDSE
TI - Risk Management in A Global Supply Chain
SN - 978-989-758-690-3
AU - Qiu J.
PY - 2024
SP - 350
EP - 355
DO - 10.5220/0012838700004547
PB - SciTePress