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Abstract
The aim of this clause is to compare academic research with diligence practices in the field of
global sourcing risk management and propose Directions for future research to help bridge
the crack between the theory And the pattern of global sourcing risk management. Reports
from supply chain audits often leading US companies are analyzed Document the
current province of practice.
Introduction:-
Supply chains face risks related to currency fluctuations, political changes, Economic changes, long
and varying lead times, inventory, quality, and Intellectual property (Khan and Burnes 2007; Manuj and
Mentzer 2008a; Rao And Goldsby 2009). ). Supply chain risk management topics have been
widelyresearched by academics—conceptually, theoretically, and empirically—over the past few years
(Jüttner, Peck, and Christopher 2003 ; Khan and Burnes2007 ) and include, among others, topics such as
supply chain risks (Rao andGoldsby 2009 ), risk management process and strategies (Christopher andLee
2004; Jüttner, Peck, and Christopher 2003 ; Manuj and Mentzer 2008a ,2008b ), and risk-related
outcomes (Wagner and Bode 2008 ). Academics and practitioners are interested in further
understanding of Risk management for several causes. Foremost, at that
place are various openings in the- Area of supply chain risk management, most recently
summarized by Pfohl, Köhler, and Thomas (2010). Second, while the literature has
made advances- Mint in supply chain risk theory development, beyond a few case
studies Published in academic journals. This article centers on the Specific Subarea of global
sourcing for two causes. First, prior research Aug- Fasts' that a majority
of genes connected with supply chain risk identification Are related to sourcing uncertainties
(Zsidisin et al. 2004 ). Second, recent business trends indicate if nance and
pro- Curement executives expect global sourcing activities to increase over the Next few years
(Minter 2009; Paul, Ramesh, and Srivastava 2010)
Methodology
This segment depicts the procedures for review of academic literature, Analysis of industry practice
and comparison between the two streams of Knowledge.
Supply chain risk management should be handled at strategic, functional, And tactical levels. It includes
preventative approach or designing supply Chains with built-in risk tolerance and interceptive approach
or taking Damage when undesirable events happen (Gaonkar and Viswanadham 2007).
It must be noted that the insights of the real world are based on a limited sample of ten companies.
Although over 400 interviews form the basis of audit reports and the companies are leaders in their
respective fields and huge financial entities, it is reasonable to assume that there are companies
practicing more advanced risk management. If such companies could be identified and convinced to
share some of their risk management practices, it would greatly benefit academics and practitioners.
Conclusion:-
It must be noted that the insights of the real world are based on a limited sample of ten companies.
Although over 400 interviews form the basis of audit reports and the companies are leaders in their
respective fields and huge financial entities, it is reasonable to assume that there are companies
practicing more advanced risk management. If such companies could beidentifi ed and convinced to
share some of their risk management practices, it would greatly benefit academics and practitioners.