Author(s)

Yuanyuan Wang

Corresponding Author

Yuanyuan Wang

ABSTRACT

To demonstrate strategies of managing risk in companies’ supply chains, this paper introduces and evaluates these three approaches and how each reduces these potential risks. This paper firstly identifies and examines how flexibility can help avoid the risk of financial failure in supply chain and does so by analyzing the facts of supply, process and demand risk management. Secondly, the paper looks at how sustainability management can lower the risk of financial failure in supply chain and takes three main elements into consideration: environmental, social and economic. Lastly, this paper assesses how visibility strategies can use information sharing, both from a quality and quantify perspective, to minimize the risk of financial failure in supply chain.

KEYWORDS

Risk Management, financial failure, transportation, supply chain