TITLE:
Integration of ISO 31000:2009 and Supply Chain Risk Management
AUTHORS:
Thomas Scannell, Sime Curkovic, Bret Wagner
KEYWORDS:
IS0 31000:2009; Supply Chain Risk Management (SCRM); Enterprise Risk Management (ERM); Survey
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.3 No.4,
July
23,
2013
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.