Abstract:

Identification and managing of variety of risks during the complete product design, development and delivery process are challenging. It covers the ‘product value stream’ in engineering projects  including partners, suppliers, research and development, design and manufacturing, marketing, purchasing, service and support personnel and customers.  The last few decades have been marked by constantly evolving markets adopting new manufacturing trends in order to satisfy an increasingly demanding customers. Coupled with the relationships that have developed between a purchasing company and its suppliers as well as with its customers, resulting in networks or supply chains that are more exposed and vulnerable to detrimental events. In this paper, a process of  supply chain risk management adapted in literature is reviewed with an emphasis given to the risk identification process. Accordingly a framework is developed  along with risk identification tools to categorize the sources of risks into three main areas – environment, supply chain and organization with unique risk classifications. This framework can be used as a risk identification tool as well as a route to establish  inter and intra-relationships  between  various risk factors.