The primary objective of this project is to analyze potential risks in supply chain operations and develop effective strategies to mitigate disruptions. The project will focus on improving supply chain resilience, ensuring business continuity, and minimizing financial and operational risks through proactive risk management techniques.
Supplier disruptions 2) Logistics and transportation failures 3) Demand and inventory fluctuations 4) Cyber-security threats 5) Geopolitical and environmental risks Failure to manage these risks can result in operational delays, financial losses and decreased customer satisfaction.
Identify and categorize supply chain risks – Using frameworks like FMEA (Failure Modes and Effects Analysis), SWOT, and PESTLE analysis.
Assess risk impact – Evaluate how different risks affect supply chain performance, costs, and efficiency.
Develop risk mitigation strategies – Propose solutions such as supplier diversification, predictive analytics, buffer inventory, and logistics optimization.
Explore technology-driven solutions – Assess the role of AI, blockchain, IoT, and real-time tracking in risk management.
Design a proactive risk management framework – Provide recommendations for businesses to enhance supply chain resilience and responsiveness.
Conduct a literature review on supply chain risk management frameworks.
Research real-world case studies of supply chain disruptions.
Identify different types of risks (supplier risks, logistics risks, demand fluctuations, cyber-security threats, geopolitical risks, etc.).
Map the current supply chain process of a selected company/industry.
Use FMEA (Failure Mode and Effects Analysis) and Risk Matrix to evaluate risks based on likelihood and impact.
Collect data on past disruptions, delays, and their consequences.
Conduct stakeholder interviews (if feasible) to understand real challenges in supply chain operations.
Propose risk mitigation solutions Evaluate the role of technology (IoT, blockchain, real-time tracking) in risk reduction.
Design a proactive risk monitoring system with key performance indicators (KPIs).
Suggest a contingency plan for unexpected disruptions.
Create a decision-making framework for supply chain risk response
Compile findings, analysis, and solutions into a detailed project report.
Develop a presentation summarizing key insights, risk management strategies, and recommendations.
Present findings to faculty/industry mentors for feedback.
