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Minimizing supply chain risk factors using interpretive structural modeling (ISM)

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Author Affiliations

  • 1Department of Mechanical and Production Engineering, Ahsanullah University of Science and Technology, Dhaka, Bangladesh
  • 2Department of Mechanical and Production Engineering, Ahsanullah University of Science and Technology, Dhaka, Bangladesh
  • 3Department of Mechanical and Production Engineering, Ahsanullah University of Science and Technology, Dhaka, Bangladesh
  • 4Department of Mechanical and Production Engineering, Ahsanullah University of Science and Technology, Dhaka, Bangladesh

Res. J. Management Sci., Volume 8, Issue (1), Pages 1-14, January,6 (2019)

Abstract

Singling out of supply chain risks is the prior stage in the risk management process. To understand and manage risk of supply chain is a significant concern of business and a compounded problem. There exists a variety of standard for risk minimizing in supply chain management. Interpretive Structural Modeling(ISM) tactic initiates with an identification of variables, which is applicable to the problem or an issue. In this research, these variables were taken under a company as risk factors whereas Structural Self-Interaction Matrix (SSIM) is converted into a Reachability Matrix (RM) and its transitivity has also been seasoned. Once transitivity has been checked, a contextually applicable subordinate relation is being chosen. Having decided the contextual relation, a Structural Self-Interaction Matrix (SSIM) is established based on pair wise comparison of variables. In this paper the elements (also referred as variables) for the implementation of RM in a warehouse has been analyzed to find an ISM which indicates the interrelationships of the elements and also their levels. These elements have also been categorized according to their driving power and dependency. This research work has been done with twenty factors, also the percentage of the drivers, linkages, autonomous along with the independent variables have been found.

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