The paper presents the fundamental concepts associated with the performances various supply chain tools or models, and their implications for the overall business chain management and risks. Therefore, the research is intended to investigate and explore the suitable supply chain for determining the risks associated with the multiple types of supply chain operations. From the basic concept, it is observed that different companies around the world utilize different types of models to manage their supply chain efficiently. However, the standard application of these models is based on providing support to share critical information to the management areas, controlling the flow of useful materials, and conducting assessment related to the costs and performance of various supply chain partners (Dornfeld and Linke 2012). For an example, the activity-based costing (ABC Costing) and customer assessment are the striking instances of such scenario. Therefore, the research is aimed to develop appropriate knowledge about the impacts of risks management associated with the supply chain of the Robinsons Energy Solutions to influence the logistics and other relevant areas of management.
There is awide range of tools adopted by the management for addressing the risks associated with the operations and ensuring the management procedures are running smoothly. Therefore, the achievement of business results largely depends on the successful application of these tools and the different levels of such applications (Jin and Lin 2012). In order to ensure the successful selection and implementation of the supply chain management tools, the businesses operations of Robinsons must need to gather the critical level of understanding regarding the key concepts associated with the risk management procedures and approaches. Hence, the rationale of this research is based on developing suitable understanding about the risk management performances and their consequences on the overall areas of management including the supply chain and logistics.
In order to manage the supply chain risks, the management team of Robinsons must need to generate understanding about the major categorizations of the potential hazards. Generally, there are two different kinds of risks commonly known as quantity risks and price risks. These risks can be further categorized by considering the nature of the risks associated with the various spheres of management (Kouvelis 2011). The particular environment, in which the company is operating, is increasingly changing caused by multiple external factors, such as the market shares, taxation rules and guidelines, and fluctuation of different rates. On the other hand, the risk management approaches and procedures adopted by the management of the company successfully consider these factors for ensuring the development of an effective risk management framework and providing potential benefits to the supply chain and logistic processes.
There are different challenges, which might be faced by the supply chain of Robinsons. These challenges are majorly caused by the material, financial, or informational risks. The implications of these risks can significantly disrupt at least one of the supply chain flows associated with the overall management process. Therefore, the potential impact of the disruption can be noted across the entire areas of supply chain. There are numerous examples from the global business environment suggesting the emergence of different kinds of risks and the potential exposures of the companies critically (Xu, Yasinzai and Lev 2013). In order to investigate the primary reason causing the emergence of such problems, the researchers from the different periods provided increasing concerns over the volatility of the supply chains followed by the companies. Hence, the growing amount of priority should need to be given to the roles played by the supply chain executives, as the research and practices must need to be concentrated on identifying the key problems and their consequences successfully.
In order to investigate the impacts of risks occurring from the supply chain and logistic activities of a particular company, the study is required to develop an understanding of the theories and models formed by the major scholars and researcher. According to Aliahmadi, Jafari, and Amiri (2006), an individual company can take several steps to manage, mitigate, transfer, or decide to assume the risks associated with the supply chain and logistic process of the business. Based on the argument raised by Bakshi and Kleindorfer (2009), one of the most efficient strategies to manage supply chain risks is ensuring the engagement of key supply chain partners. With the help of the process, a coordinated approach can be developed, which is crucial for developing and maintaining cooperation within the supply chain practices of Robinsons Energy Solutions (Zhong 2013). Smooth flows of information and monetary data generated during the business can be established and risks related to the different transactions can be successfully avoided. Additionally, SWOT and PESTLE analyses will be carried out regarding the identified company to recognise the weak and strong areas of the business operations.
The proposed processes undertaken for the study are expected to bring improvements to not only the supply chain and logistic aspect of the company, but also to the profitability position as well. With the help of the literature supporting the various supply chain and logistic models, the company can create a proper sequence of activities as dictated by Christopher et al. (2011). Therefore, a suitable control mechanism for the enterprise can be established by the help of the resources (Dornfeld and Linke 2012). In conclusion, it can be identified that failure to establish an effective control mechanism causes considerable amount threat for the logistic and supply chain operations of Robinsons. On the other hand, the implications from SWOT and PESTLE analyses expected to carry out will provide vital understanding about the improving areas and areas require further enhancement for Robinsons. The models and strategies also can be implemented by developing suitable sense regarding the areas of opportunities and for the company.
Dornfeld, D. and Linke, B. (2012). Leveraging technology for a sustainable world.Heidelberg: Springer.
Jin, D. and Lin, S. (2012). Advances in electronic engineering, communication and management.Berlin: Springer.
Kouvelis, P. (2011). Integrated risk management handbook. Oxford: Wiley-Blackwell.
Xu, J., Yasinzai, M. and Lev, B. (2013). Proceedings of the sixth International Conference on Management Science and Engineering Management.London: Springer.
Zhong, Z. (2013). Proceedings of the International Conference on Information Engineering and Applications (IEA) 2012.London: Springer.
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