Abstract
Customer demand requirements are changing rapidly in the current industrial scenario. Changing customer needs necessitates the adoption of appropriate modern tools, equipment, and other needed delivery methods. These efforts are to be integrated by considering the demand requirements of customers, the needed supply of raw material, availability of sub-assembly, manufacturing systems management, delivery of products based on the due date requirements of the customers, and after-sales services. These activities are to be integrated with dynamic operable strategies to face the challenges in the pierce competitive market environment. In order to amalgamate these activities dynamically, supply chain management integrated with risk management strategies are initiated. Risk mitigation through the identification of risk, assessment of risk, prioritization of risk, and control of risk are effective in many of the manufacturing organizations. But, the risk control measure just pinpoints the loss reduction at that point of time only and the development of feasible strategies for risk mitigation. Then, moving towards routine production activities will be usually resumed. The loss of producing elements in the supply chain flows was not analyzed in detail to prevent them in the future. In order to tackle these issues in a cursory manner in manufacturing organizations, the development, and implementation of strategies by adopting the integrated supply chain risk management principles are essential for the mitigation of loss prevention efforts. For moving towards the continual improvement of manufacturing organizations with appropriate outcomes, it is essential to integrate these types of risk prevention measures.
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Elangovan, D., Sundararaj, G., Devadasan, S.R., Karuppuswamy, P., Vishnupriyan, R. (2021). Development of Supply Chain Risk Management Strategies for Mitigating Loss Prevention in Manufacturing Organizations. In: Mohan, S., Shankar, S., Rajeshkumar, G. (eds) Materials, Design, and Manufacturing for Sustainable Environment. Lecture Notes in Mechanical Engineering. Springer, Singapore. https://doi.org/10.1007/978-981-15-9809-8_39
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