Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 553

Search results for: Supply risk

553 Risk Monitoring through Traceability Information Model

Authors: Juan P. Zamora, Wilson Adarme, Laura Palacios

Abstract:

This paper shows a traceability framework for supply risk monitoring, beginning with the identification, analysis, and evaluation of the supply chain risk and focusing on the supply operations of the Health Care Institutions with oncology services in Bogota, Colombia. It includes a brief presentation of the state of the art of the Supply Chain Risk Management and traceability systems in logistics operations, and it concludes with the methodology to integrate the SCRM model with the traceability system.

Keywords: Supply risk, risk monitoring, supply chain risk management, cancer drugs, traceability systems.

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552 Risk Management Approach for Lean, Agile, Resilient and Green Supply Chain

Authors: Benmoussa Rachid, Deguio Roland, Dubois Sebastien, Rasovska Ivana

Abstract:

Implementation of LARG (Lean, Agile, Resilient, Green) practices in the supply chain management is a complex task mainly because ecological, economical and operational goals are usually in conflict. To implement these LARG practices successfully, companies’ need relevant decision making tools allowing processes performance control and improvement strategies visibility. To contribute to this issue, this work tries to answer the following research question: How to master performance and anticipate problems in supply chain LARG practices implementation? To answer this question, a risk management approach (RMA) is adopted. Indeed, the proposed RMA aims basically to assess the ability of a supply chain, guided by “Lean, Green and Achievement” performance goals, to face “agility and resilience risk” factors. To proof its relevance, a logistics academic case study based on simulation is used to illustrate all its stages. It shows particularly how to build the “LARG risk map” which is the main output of this approach.

Keywords: Risk approach, lean supply chain, agile supply chain, green supply chain, resilient supply chain.

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551 Planning a Supply Chain with Risk and Environmental Objectives

Authors: Ghanima Al-Sharrah, Haitham M. Lababidi, Yusuf I. Ali

Abstract:

The main objective of the current work is to introduce sustainability factors in optimizing the supply chain model for process industries. The supply chain models are normally based on purely economic considerations related to costs and profits. To account for sustainability, two additional factors have been introduced; environment and risk. A supply chain for an entire petroleum organization has been considered for implementing and testing the proposed optimization models. The environmental and risk factors were introduced as indicators reflecting the anticipated impact of the optimal production scenarios on sustainability. The aggregation method used in extending the single objective function to multi-objective function is proven to be quite effective in balancing the contribution of each objective term. The results indicate that introducing sustainability factor would slightly reduce the economic benefit while improving the environmental and risk reduction performances of the process industries.

Keywords: Supply chain, optimization, LP models, risk, environmental indicators, multi-objective.

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550 Analysis of Supply Chain Risk Management Strategies: Case Study of Supply Chain Disruptions

Authors: Marcelo Dias Carvalho, Leticia Ishikawa

Abstract:

Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk management techniques and management policies designed to create lean enterprises. The result of a good balance of these actions is the reduction of losses, increased customer trust in the company and better preparedness to face the general risks of a supply chain.

Keywords: Supply chain disruptions, supply chain management, supply chain resilience, just-in-time production, lean manufacturing.

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549 A Combined Fuzzy Decision Making Approach to Supply Chain Risk Assessment

Authors: P. Moeinzadeh, A. Hajfathaliha

Abstract:

Many firms implemented various initiatives such as outsourced manufacturing which could make a supply chain (SC) more vulnerable to various types of disruptions. So managing risk has become a critical component of SC management. Different types of SC vulnerability management methodologies have been proposed for managing SC risk, most offer only point-based solutions that deal with a limited set of risks. This research aims to reinforce SC risk management by proposing an integrated approach. SC risks are identified and a risk index classification structure is created. Then we develop a SC risk assessment approach based on the analytic network process (ANP) and the VIKOR methods under the fuzzy environment where the vagueness and subjectivity are handled with linguistic terms parameterized by triangular fuzzy numbers. By using FANP, risks weights are calculated and then inserted to the FVIKOR to rank the SC members and find the most risky partner.

Keywords: Analytic network process (ANP), Fuzzy sets, Supply chain risk management (SCRM), VIšekriterijumsko KOmpromisno Rangiranje (VIKOR)

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548 Risk Management and Security Practice in Customs Supply Chain: Application of Cross ABC Method to the Moroccan Customs

Authors: Lamia Hammadi, Abdellah Ait Ouhman, Aomar Ibourk

Abstract:

It is widely assumed that the case of Customs Supply Chain is classified as a complex system, due to not only the variety and large number of actors, but also their complex structural links, and the interactions between these actors, that’s why this system is subject to various types of Risks. The economic, political and social impacts of those risks are highly detrimental to countries, businesses and the public, for this reason, Risk management in the customs supply chain is becoming a crucial issue to ensure the sustainability, security and safety. The main characteristic of customs risk management approach is determining which goods and means of transport should be examined? To what extend? And where future compliance resources should be directed? The purposes of this article are, firstly to deal with the concept of customs supply chain, secondly present our risk management approach based on Cross Activity Based Costing (ABC) Method as an interactive tool to support decision making in customs risk management. Finally, analysis of case study of Moroccan customs to putting theory into practice and will thus draw together the various elements of a structured and efficient risk management approach.

Keywords: Cross ABC Method, Customs Supply Chain, Risk, Risk Management.

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547 Assessment of Risk of Ground Water Resources for the Emergency Supply in Relation to Their Contamination by Metals

Authors: Frantisek Bozek, Alexandr Bozek, Alena Bumbova, Jiri Dvorak, Lenka Jesonkova

Abstract:

The contamination of 15 ground water resources of a selected region earmarked for the emergency supply of population has been monitored. The resources have been selected on the basis of previous assessment of natural conditions and the exploitation of territory in their surroundings and infiltration area. Two resources out of 15 have been excluded from further exploitation, because they have not met some of the 72 assessed hygienic indicators of extended analysis. The remaining 13 resources have been the subject of health risk analysis in relation to the contamination by arsenic, lead, cadmium, mercury, nickel and manganese. The risk analysis proved that all 13 resources meet health standards with regard to the above mentioned purposefully selected elements and may thus be included into crisis plans. Water quality of ground resources may be assessed in the same way with regard to other contaminants.

Keywords: Contamination, drinking water, emergency supply, health risk, hygienic limits, metals, risk assessment.

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546 Supply Chain Risk Management (SCRM): A Simplified Alternative for Implementing SCRM for Small and Medium Enterprises

Authors: Paul W. Murray, Marco Barajas

Abstract:

Recent changes in supply chains, especially globalization and collaboration, have created new risks for enterprises of all sizes. A variety of complex frameworks, often based on enterprise risk management strategies have been presented under the heading of Supply Chain Risk Management (SCRM). The literature on promotes the benefits of a robust SCRM strategy; however, implementing SCRM is difficult and resource demanding for Large Enterprises (LEs), and essentially out of reach for Small & Medium Enterprises (SMEs). This research debunks the idea that SCRM is necessary for all enterprises and instead proposes a simple and effective Vendor Selection Template (VST). Empirical testing and a survey of supply chain practitioners provide a measure of validation to the VST. The resulting VSTis a valuable contribution because is easy to use, provides practical results, and is sufficiently flexible to be universally applied to SMEs.

Keywords: Multiple Regression Analysis, Supply Chain Management, Risk Assessment, Vendor Selection.

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545 Continuity Planning in Supply Chain Networks: Degrees of Freedom and Application in the Risk Management Process

Authors: Marco Bötel, Tobias Gelau, Wendelin Gross

Abstract:

Supply chain networks are frequently hit by unplanned events which lead to disruptions and cause operational and financial consequences. It is neither possible to avoid disruption risk entirely, nor are network members able to prepare for every possible disruptive event. Therefore a continuity planning should be set up which supports effective operational responses in supply chain networks in times of emergencies. In this research network related degrees of freedom which determine the options for responsive actions are derived from interview data. The findings are further embedded into a common risk management process. The paper provides support for researchers and practitioners to identify the network related options for responsive actions and to determine the need for improving the reaction capabilities.

Keywords: Supply Chain Risk Management, Business Continuity Planning, Degrees of Freedom, Risk Management Process, Mitigation Measures.

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544 Risk Assessment of Selected Source for Emergency Water Supply Case Study II

Authors: Frantisek Bozek, Alexandr Bozek, Eduard Bakos, Jiri Dvorak, Alena Bumbova, Lenka Jesonkova

Abstract:

The case study deals with the semi-quantitative risk assessment of water resource earmarked for the emergency supply of population with drinking water. The risk analysis has been based on previously identified hazards/sensitivities of the elements of hydrogeological structure and technological equipment of ground water resource as well as on the assessment of the levels of hazard, sensitivity and criticality of individual resource elements in the form of point indexes. The following potential sources of hazard have been considered: natural disasters caused by atmospheric and geological changes, technological hazards, and environmental burdens. The risk analysis has proved that the assessed risks are acceptable and the water resource may be integrated into a crisis plan of a given region.

Keywords: Crisis, emergency, frequency, ground water, hazard, point index, risk, sensitivity, water supply.

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543 Scientometrics Analysis of Food Supply Chain Risk Assessment Literature Based on Web of Science Record 1996-2014

Authors: Mohsen Shirani, Shadi Asadzandi, Micaela Demichela

Abstract:

This paper presents the results of a study to assess crucial aspects and the strength of the scientific basis of a typically interdisciplinary, applied field: food supply chain risk assessment research. Our approach is based on an advanced scientometrics analysis that is a quantitative study of the disciplines of science based on published literature to measure interdisciplinary. This paper aims to describe the quantity and quality of the publication trends in food supply chain risk assessment. The publication under study was composed of 266 articles from database web of science. The results were analyzed based on date of publication, type of document, language of the documents, source of publications, subject areas, authors and their affiliations, and the countries involved in developing the articles.

Keywords: Food Supply Chain, Risk Assessment, Scientometrics, Web of science.

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542 Assessment of the Vulnerability and Risk of Climate Change on Water Supply and Demand in Taijiang Area

Authors: Yu-Chen Lin, Tzong-Yeang Lee, Hung-Chih Shih

Abstract:

The development of sustainable utilization water resources is crucial. The ecological environment and water resources systems form the foundation of the existence and development of the social economy. The urban ecological support system depends on these resources as well. This research studies the vulnerability, criticality, and risk of climate change on water supply and demand in the main administrative district of the Taijiang Area (Tainan City). Based on the two situations set in this paper and various factors (indexes), this research adopts two kinds of weights (equal and AHP) to conduct the calculation and establish the water supply and demand risk map for the target year 2039. According to the risk analysis result, which is based on equal weight, only one district belongs to a high-grade district (Grade 4). Based on the AHP weight, 16 districts belong to a high-grade or higher-grade district (Grades 4 and 5), and from among them, two districts belong to the highest grade (Grade 5). These results show that the risk level of water supply and demand in cities is higher than that in towns. The government generally gives more attention to the adjustment strategy in the “cities." However, it should also provide proper adjustment strategies for the “towns" to be able to cope with the risks of water supply and demand.

Keywords: Climate change, risk, vulnerability, water supply and demand.

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541 Classification of Ground Water Resources for Emergency Supply

Authors: František Bozek, Alexandr Bozek, Alena Bumbova, Eduard Bakos, Jiri Dvorak

Abstract:

The article deals with the classification of alternative water resources in terms of potential risks which is the prerequisite for incorporating these water resources to the emergency plans. The classification is based on the quantification of risks resulting from possible damage, disruption or total destruction of water resource caused by natural and anthropogenic hazards, assessment of water quality and availability, traffic accessibility of the assessed resource and finally its water yield. The aim is to achieve the development of an integrated rescue system, which will be capable of supplying the population with drinking water on the whole stricken territory during the states of emergency.

Keywords: Classification, Emergency Supply, Risk, Water Standby Resource.

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540 Appraisal of Humanitarian Supply Chain Risks Using Best-Worst Method

Authors: Ali Mohaghar, Iman Ghasemian Sahebi, Alireza Arab

Abstract:

In the last decades, increasing in human and natural disaster occurrence had very irreparable effects on human life. Hence, one of the important issues in humanitarian supply chain management is identifying and prioritizing the different risks and finding suitable solutions for encountering them at the time of disaster occurrence. This study is an attempt to provide a comprehensive review of humanitarian supply chain risks in a case study of Tehran Red Crescent Societies. For this purpose, Best-Worst method (BWM) has been used for analyzing the risks of the humanitarian supply chain. 22 risks of the humanitarian supply chain were identified based on the literature and interviews with four experts. According to BWM method, the importance of each risk was calculated. The findings showed that culture contexts, little awareness of people, and poor education system are the most important humanitarian supply chain risks. This research provides a useful guideline for managers so that they can benefit from the results to prioritize their solutions.

Keywords: Best worst method, humanitarian logistics, humanitarian supply chain, risk management.

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539 The Impact of Supply Chain Strategy and Integration on Supply Chain Performance: Supply Chain Vulnerability as a Moderator

Authors: Yi-Chun Kuo, Jo-Chieh Lin

Abstract:

The objective of a supply chain strategy is to reduce waste and increase efficiency to attain cost benefits, and to guarantee supply chain flexibility when facing the ever-changing market environment in order to meet customer requirements. Strategy implementation aims to fulfill common goals and attain benefits by integrating upstream and downstream enterprises, sharing information, conducting common planning, and taking part in decision making, so as to enhance the overall performance of the supply chain. With the rise of outsourcing and globalization, the increasing dependence on suppliers and customers and the rapid development of information technology, the complexity and uncertainty of the supply chain have intensified, and supply chain vulnerability has surged, resulting in adverse effects on supply chain performance. Thus, this study aims to use supply chain vulnerability as a moderating variable and apply structural equation modeling (SEM) to determine the relationships among supply chain strategy, supply chain integration, and supply chain performance, as well as the moderating effect of supply chain vulnerability on supply chain performance. The data investigation of this study was questionnaires which were collected from the management level of enterprises in Taiwan and China, 149 questionnaires were received. The result of confirmatory factor analysis shows that the path coefficients of supply chain strategy on supply chain integration and supply chain performance are positive (0.497, t= 4.914; 0.748, t= 5.919), having a significantly positive effect. Supply chain integration is also significantly positively correlated to supply chain performance (0.192, t = 2.273). The moderating effects of supply chain vulnerability on supply chain strategy and supply chain integration to supply chain performance are significant (7.407; 4.687). In Taiwan, 97.73% of enterprises are small- and medium-sized enterprises (SMEs) focusing on receiving original equipment manufacturer (OEM) and original design manufacturer (ODM) orders. In order to meet the needs of customers and to respond to market changes, these enterprises especially focus on supply chain flexibility and their integration with the upstream and downstream enterprises. According to the observation of this research, the effect of supply chain vulnerability on supply chain performance is significant, and so enterprises need to attach great importance to the management of supply chain risk and conduct risk analysis on their suppliers in order to formulate response strategies when facing emergency situations. At the same time, risk management is incorporated into the supply chain so as to reduce the effect of supply chain vulnerability on the overall supply chain performance.

Keywords: Supply chain integration, supply chain performance, supply chain vulnerability, structural equation modeling.

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538 Future Outlook and Current Situation for Security of Gas Supply in Eastern Baltic Region

Authors: Ando Leppiman, Kati Kõrbe Kaare, Ott Koppel

Abstract:

Growing demand for gas has rekindled a debate on gas security of supply due to supply interruptions, increasing gas prices, cross-border bottlenecks and a growing reliance on imports over longer distances. Security of supply is defined mostly as an infrastructure package to satisfy N-1 criteria. In case of Estonia, Finland, Latvia and Lithuania all the gas infrastructure is built to supply natural gas only from one single supplier, Russia. In 2012 almost 100% of natural gas to the Eastern Baltic Region was supplied by Gazprom. Under such circumstances infrastructure N-1 criteria does not guarantee security of supply. In the Eastern Baltic Region, the assessment of risk of gas supply disruption has been worked out by applying the method of risk scenarios. There are various risks to be tackled in Eastern Baltic States in terms of improving security of supply, such as single supplier risk, physical infrastructure risk, regulatory gap, fair price and competition. The objective of this paper is to evaluate the energy security of the Eastern Baltic Region within the framework of the European Union’s policies and to make recommendations on how to better guarantee the energy security of the region.

Keywords: Security of supply, supply routes for natural gas, energy balance, diversified supply options, common regulative package.

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537 Measuring Risk Levels and Efficacy of Risk Management Strategies in Vietnamese Catfish Farming

Authors: Tru C. Le, France Cheong

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Although the Vietnamese catfish farming has grown at very high rates in recent years, the industry has also faced many problems affecting its sustainability. This paper studies the perceptions of catfish farmers regarding risk and risk management strategies in their production activities. Specifically, the study aims to measure the consequences, likelihoods, and levels of risks as well as the efficacy of risk management in Vietnamese catfish farming. Data for the study were collected through a sample of 261 catfish farmers in the Mekong Delta, Vietnam using a questionnaire survey in 2008. Results show that, in general, price and production risks were perceived as the most important risks. Farm management and technical measures were perceived more effective than other kinds of risk management strategies in risk reduction. Although price risks were rated as important risks, price risk management strategies were not perceived as important measures for risk mitigation. The results of the study are discussed to provide implications for various industry stakeholders, including policy makers, processors, advisors, and developers of new risk management strategies.

Keywords: Aquaculture, catfish farming, sources of risk, riskmanagement, risk strategies, risk mitigation.

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536 Classification and Analysis of Risks in Software Engineering

Authors: Hooman Hoodat, Hassan Rashidi

Abstract:

Despite various methods that exist in software risk management, software projects have a high rate of failure. When complexity and size of the projects are increased, managing software development becomes more difficult. In these projects the need for more analysis and risk assessment is vital. In this paper, a classification for software risks is specified. Then relations between these risks using risk tree structure are presented. Analysis and assessment of these risks are done using probabilistic calculations. This analysis helps qualitative and quantitative assessment of risk of failure. Moreover it can help software risk management process. This classification and risk tree structure can apply to some software tools.

Keywords: Risk analysis, risk assessment, risk classification, risk tree.

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535 The Impact of Financial Risks on Profitability of Malaysian Commercial Banks: 1996-2005

Authors: Fauziah Hanim Tafri, Zarinah Hamid, Ahamed Kameel Mydin Meera, Mohd Azmi Omar

Abstract:

This paper examines the relationship between financial risks and profitability of the conventional and Islamic banks in Malaysia for the period between 1996 and 2005. The measures of profitability that have been used in the study are the return on equity (ROE) and return on assets (ROA) while the financial risks are credit risk, interest rate risk and liquidity risks. This study employs panel data regression analysis of Generalised Least Squares of fixed effects and random effects models. It was found that credit risk has a significant impact on ROA and ROE for the conventional as well as the Islamic banks. The relationship between interest rate risk and ROE were found to be weakly significant for the conventional banks and insignificant for the Islamic banks. The effect of interest rate risk on ROA is significant for the conventional banks. Liquidity risk was found to have an insignificant impact on both profitability measures.

Keywords: Credit risk, interest rate risk, liquidity risk, market risk, profitability.

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534 Proposal of a Model Supporting Decision-Making on Information Security Risk Treatment

Authors: Ritsuko Kawasaki (Aiba), Takeshi Hiromatsu

Abstract:

Management is required to understand all information security risks within an organization, and to make decisions on which information security risks should be treated in what level by allocating how much amount of cost. However, such decision-making is not usually easy, because various measures for risk treatment must be selected with the suitable application levels. In addition, some measures may have objectives conflicting with each other. It also makes the selection difficult. Therefore, this paper provides a model which supports the selection of measures by applying multi-objective analysis to find an optimal solution. Additionally, a list of measures is also provided to make the selection easier and more effective without any leakage of measures.

Keywords: Information security risk treatment, Selection of risk measures, Risk acceptance and Multi-objective optimization.

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533 An Integrated Supply Chain Management to Manufacturing Industries

Authors: Kittipong Tissayakorn, Fumio Akagi, Yu Song

Abstract:

Manufacturers have been exploring innovative strategies to achieve and sustain competitive advantages as they face a new era of intensive global competition. Such strategy is known as Supply Chain Management (SCM), which has gained a tremendous amount of attention from both researchers and practitioners over the last decade. Supply chain management (SCM) is considered as the most popular operating strategy for improving organizational competitiveness in the twenty-first century. It has attracted a lot of attention recently due to its role involving all of the activities in industrial organizations, ranging from raw material procurement to final product delivery to customers. Well-designed supply chain systems can substantially improve efficiency and product quality, and eventually enhance customer satisfaction and profitability. In this paper, a manufacturing engineering perspective on supply chain integration is presented. Research issues discussed include the product and process design for the supply chain, design evaluation of manufacturing in the supply chain, agent-based techniques for supply chain integration, intelligent information for sharing across the supply chain, and a development of standards for product, process, and production data exchange to facilitate electronic commerce. The objective is to provide guidelines and references for manufacturing engineers and researchers interested in supply chain integration.

Keywords: Supply Chain, Supply Chain Management, Supply Chain Integration, Manufacturing Industries.

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532 Supply Chain Competitiveness: A Review of Select Enablers

Authors: Ajay Verma, Nitin Seth

Abstract:

In present days market environment, supply chains has to be competitive enough to handle pressures like varying customer’s expectations, low cost high quality products to be delivered at the minimum time and the most important is throat cutting competition at world wide scale. Recently, supply chain competitiveness has been, therefore, accepted as one of the most important philosophies in the supply chain literature. Various researchers and practitioners have tried to identify and implement enablers in supply chains which can bring competitiveness in the supply chains i.e. supply chain competitiveness. The purpose of this paper is to suggest select enablers for supply chain competitiveness in the Indian manufacturing sector using an integrated approach of literature review and exploratory interviews with eminent professionals from the supply chain area in various industries, academia and research. The aim of the paper is to highlight the important enablers in the area of supply chain competitiveness and suggest recommendations to the industry and managers of manufacturing supply chains with a view to encourage more efforts in this wider domain area.

Keywords: Supply Chain Competitiveness, Supply Chain Collaboration, Coordination, Quality Management, Cost.

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531 The Risk Assessment of Cancer Risk during Normal Operation of Tehran Research Reactor Due to Radioactive Gas Emission

Authors: B. Salmasian, A. Rabiee, T. Yousefzadeh

Abstract:

In this research, the risk assessment of radiation hazard for the Research Nuclear Reactor has been studied. In the current study, the MCNPx computational code has been used and coupled with a developed program using MATLAB software to evaluate Total Effective Dose Equivalent (TEDE) and cancer risk according to the BEIR equations for various human organs. In this study, the risk assessment of cancer has been calculated for ten years after exposure, in each of body organs of different ages and sexes. Also, the risk assessment of cancer has been calculated in each of body organs of different ages and sexes due to exposure after the retirement of the reactor staff. According to obtained results, a conservative whole-body dose rate, during a year, is 0.261 Sv and the probability the cancer risk for women is more than men and for children is more than adults. It has been shown that thyroid cancer was more possible than others.

Keywords: MCNPx code, BEIR equation, equivalent dose, risk analysis.

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530 The Supply Chain Management and Supply Chain Responsiveness in the Competitiveness of the Agrofood Sector: An Econometric Analysis

Authors: Alma Lucero Ortiz, Mario Gómez

Abstract:

The purpose of this article is to conduct a theoretical and empirical study in order to analyze how the Supply Chain Management (SCM) and Supply Chain Responsiveness (SCR) affects the competitive advantage of the agrofood sector in 2017, in particular, the exporting companies of berries in Mexico. This work is presented in two parts, as a first part is developed a theoretical analysis of the main studies to measure the variables subject to the study. Subsequently an empirical study is carried out through field work and to process the data a logical econometric model is performed to be able to evaluate the effect of the SCM and SCR on the competitive advantage in the companies exporting berries. The results suggest that the SCM has a positive effect on the competitive advantage of the companies under study, so it is necessary to implement greater practices oriented towards a suitable SCM for the companies to achieve a competitive performance. In the case of SCR, it was found that this variable does not have effect on competitive advantage.

Keywords: Competitive advantage, econometric model, supply chain management, supply chain responsiveness, sustained competitive advantage.

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529 Overview of Operational Risk Management Methods

Authors: Milan Rippel, Pert Teplý

Abstract:

Operational risk has become one of the most discussed topics in the financial industry in the recent years. The reasons for this attention can be attributed to higher investments in information systems and technology, the increasing wave of mergers and acquisitions and emergence of new financial instruments. In addition, the New Basel Capital Accord (known as Basel II) demands a capital requirement for operational risk and further motivates financial institutions to more precisely measure and manage this type of risk. The aim of this paper is to shed light on main characteristics of operational risk management and common applied methods: scenario analysis, key risk indicators, risk control self assessment and loss distribution approach.

Keywords: Operational risk, economic capital, key risk indicators, loss distribution approach.

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528 Coordination on Agrifood Supply Chain

Authors: Martha Liliana Reina Usuga, Wilson Adarme Jaimes, Oscar Eduardo Suarez

Abstract:

Coordinated supply chain represents major challenges for the different actors involved in it, because each agent responds to individual interests. The paper presents a framework with the reviewed literature regarding the system's decision structure and nature of demand. Later, it characterizes an agri food supply chain in the Central Region of Colombia, it responds to a decentralized distribution system and a stochastic demand. Finally, the paper recommends coordinating the chain based on shared information, and mechanisms for each agent, as VMI (vendor-managed inventory) strategy for farmer-buyer relationship, information system for farmers and contracts for transportation service providers.

Keywords: Agri-food supply chain, Coordination mechanisms, Decentralized distribution system, Supply chain coordination.

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527 Identifying Mitigation Plans in Reducing Usability Risk Using Delphi Method

Authors: Jayaletchumi T. Sambantha Moorthy, Suhaimi bin Ibrahim, Mohd Naz’ri Mahrin

Abstract:

Most quality models have defined usability as a significant factor that leads to improving product acceptability, increasing user satisfaction, improving product reliability, and also financially benefitting companies. Usability is also the best factor that balances both the technical and human aspects of a software product, which is an important aspect in defining quality during software development process. A usability risk consist risk factors that could impact the usability of a software product thereby contributing to negative user experiences and causing a possible software product failure. Hence, it is important to mitigate and reduce usability risks in the software development process itself. By managing possible usability risks in software development process, failure of software product could be reduced. Therefore, this research uses the Delphi method to identify mitigation plans for reducing potential usability risks. The Delphi method is conducted with seven experts from the field of risk management and software development.

Keywords: Usability, Usability Risk, Risk Management, Risk Mitigation, Delphi Method.

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526 Simulation of Lean Principles Impact in a Multi-Product Supply Chain

Authors: M. Rossini, A. Portioli Studacher

Abstract:

The market competition is moving from the single firm to the whole supply chain because of increasing competition and growing need for operational efficiencies and customer orientation. Supply chain management allows companies to look beyond their organizational boundaries to develop and leverage resources and capabilities of their supply chain partners. This creates competitive advantages in the marketplace and because of this SCM has acquired strategic importance. Lean Approach is a management strategy that focuses on reducing every type of waste present in an organization. This approach is becoming more and more popular among supply chain managers. The supply chain application of lean approach is not frequent. In particular, it is not well studied which are the impacts of lean approach principles in a supply chain context. In literature there are only few studies aimed at understanding the qualitative impact of the lean approach in supply chains. Therefore, the goal of this research work is to study the impacts of lean principles implementation along a supply chain. To achieve this, a simulation model of a threeechelon multi-product supply chain has been built. Kanban system (and several priority policies) and setup time reduction degrees are implemented in the lean-configured supply chain to apply pull and lot-sizing decrease principles respectively. To evaluate the benefits of lean approach, lean supply chain is compared with an EOQ-configured supply chain. The simulation results show that Kanban system and setup-time reduction improve inventory stock level. They also show that logistics efforts are affected to lean implementation degree. The paper concludes describing performances of lean supply chain in different contexts.

Keywords: Inventory policy, Kanban, lean supply chain, simulation study, supply chain management, planning.

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525 Optimal Allocation Between Subprime Structured Mortgage Products and Treasuries

Authors: MP. Mulaudzi, MA. Petersen, J. Mukuddem-Petersen , IM. Schoeman, B. de Waal, JM. Manale

Abstract:

This conference paper discusses a risk allocation problem for subprime investing banks involving investment in subprime structured mortgage products (SMPs) and Treasuries. In order to solve this problem, we develop a L'evy process-based model of jump diffusion-type for investment choice in subprime SMPs and Treasuries. This model incorporates subprime SMP losses for which credit default insurance in the form of credit default swaps (CDSs) can be purchased. In essence, we solve a mean swap-at-risk (SaR) optimization problem for investment which determines optimal allocation between SMPs and Treasuries subject to credit risk protection via CDSs. In this regard, SaR is indicative of how much protection investors must purchase from swap protection sellers in order to cover possible losses from SMP default. Here, SaR is defined in terms of value-at-risk (VaR). Finally, we provide an analysis of the aforementioned optimization problem and its connections with the subprime mortgage crisis (SMC).

Keywords: Investors; Jump Diffusion Process, Structured Mortgage Products, Treasuries, Credit Risk, Credit Default Swaps, Tranching Risk, Counterparty Risk, Value-at-Risk, Swaps-at-Risk, Subprime Mortgage Crisis.

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524 WPRiMA Tool: Managing Risks in Web Projects

Authors: Thamer Al-Rousan, Shahida Sulaiman, Rosalina Abdul Salam

Abstract:

Risk management is an essential fraction of project management, which plays a significant role in project success. Many failures associated with Web projects are the consequences of poor awareness of the risks involved and lack of process models that can serve as a guideline for the development of Web based applications. To circumvent this problem, contemporary process models have been devised for the development of conventional software. This paper introduces the WPRiMA (Web Project Risk Management Assessment) as the tool, which is used to implement RIAP, the risk identification architecture pattern model, which focuses upon the data from the proprietor-s and vendor-s perspectives. The paper also illustrates how WPRiMA tool works and how it can be used to calculate the risk level for a given Web project, to generate recommendations in order to facilitate risk avoidance in a project, and to improve the prospects of early risk management.

Keywords: Architecture pattern model, risk factors, risk identification, web project, web project risk management assessment.

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