Article
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REFS - A Risk Evaluation Framework on Supply Chain
Version 1
: Received: 13 December 2023 / Approved: 14 December 2023 / Online: 14 December 2023 (10:05:30 CET)
A peer-reviewed article of this Preprint also exists.
Mihálcz, I.; Kosztyán, Z.T. REFS-A Risk Evaluation Framework on Supply Chain. Mathematics 2024, 12, 841. Mihálcz, I.; Kosztyán, Z.T. REFS-A Risk Evaluation Framework on Supply Chain. Mathematics 2024, 12, 841.
Abstract
In contrast to its traditional form, in which large, powerful companies were solely and exclusively responsible for supplies, manufacturing, and distribution, the supply chain has undergone substantial change over the past half-century. Today, nearly all supply chain processes are outsourced, thanks to the efforts of innovative, modern companies. The degree of risk associated with contemporary supply chains is greater than the majority of supply chain managers acknowledge, according to an accumulation of studies, analysts, and news outlets. Vulnerabilities within the supply chain remain a significant challenge for numerous organizations. Inadequate management of these risks—which include, but are not limited to, natural disasters, acts of terrorism, cyber assaults, the credit crisis, pandemic scenarios, and war—could lead to significant declines in profitability, productivity, revenue, competitive advantage, and other metrics. Concerns regarding the risk assessment of the supply chain remain unresolved. The objective of this article is to present a risk evaluation framework that can be effectively implemented in the assessment of supply chain risks. This study makes a fundamental contribution to the body of knowledge by providing supply chain managers with a practical instrument for assessing their processes, irrespective of the mathematical underpinnings or the diverse variables employed in risk assessment. A case study from an automotive EMS production is used to compare the outcomes of multiple aggregation methods; the conclusions are then validated by risk and FMEA specialists from the same factory.
Keywords
Supply chain; FMEA; new FMEA; Risk Evaluation Framework; TREF; Fuzzy FMEA
Subject
Business, Economics and Management, Business and Management
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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