Integration of ISO 31000:2009 and Supply Chain Risk Management

Thomas Scannell, Sime Curkovic, Bret Wagner

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Department of Management, Western Michigan University, Kalamazoo, USA.

DOI: 10.4236/ajibm.2013.34043                

Abstract

Supply chain risk management (SCRM) can provide companies with a long-term competitive advantage, particularly if it is integrated with enterprise risk management (ERM). Current SCRM research frameworks do not explicitly examine this integration, potentially hindering a deeper understanding of SCRM. This research uses survey data and follow-up interviews to suggest that ISO 31000:2009 provides a foundation for advancing future SCRM research, and to more successfully execute SCRM. It is also determined that ISO 31000:2009 encompasses existing SCRM frameworks, but is more exhaustive. It includes two critical steps generally omitted from SCRM frameworks: 1) developing a strategic context for SCRM, and 2) performance monitoring. Finally, it was found that firms recognize the importance of SCRM, but SCRM integration and skills are lacking.

Keywords

IS0 31000:2009; Supply Chain Risk Management (SCRM); Enterprise Risk Management (ERM); Survey

Conflicts of Interest

The authors declare no conflicts of interest.

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