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Integration of ISO 31000:2009 and Supply Chain Risk Management

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DOI: 10.4236/ajibm.2013.34043    5,633 Downloads   9,595 Views   Citations

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.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

Scannell, T. , Curkovic, S. and Wagner, B. (2013) Integration of ISO 31000:2009 and Supply Chain Risk Management. American Journal of Industrial and Business Management, 3, 367-377. doi: 10.4236/ajibm.2013.34043.

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