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1、外文翻译-供应链风险管理 毕业论文外文翻译原文 Supply Chain Risk Management DL Olson and D WuGlobal competition technological change and continual search for competitiveadvantage have motivated risk management in supply chains1 Supply chains areoften complex systems of networks reaching hundreds or thousands of participan
2、tsfrom around the globe in some cases Wal-Mart or Dell The term has been usedboth at the strategic level coordination and collaboration and tactical level managementof logistics across functions and between businesses 2 In this sense riskmanagement can focus on identification of better ways and mean
3、s of accomplishingorganizational objectives rather than simply preservation of assets or risk avoidanceSupply chain risk management is interested in coordination and collaborationof processes and activities across functions within a network of organizations Tangprovided a framework of risk managemen
4、t perspectives in supply chains3 Supplychains enable manufacturing outsourcing to take advantages of global relativeadvantages as well as increase product variety There are many risks inherent inthis more open dynamic systemSupply Chain Risk Management ProcessOne view of a supply chain risk manageme
5、nt process includes steps for risk identificationrisk assessment risk avoidance and risk mitigation4 These structures forhandling risk are compatible with Tang s list given above but focus on the broaderaspects of the processRisk IdentificationRisks in supply chains can include operational risks and
6、 disruptions Operationalrisks involve inherent uncertainties for supply chain elements such as customerdemand supply and cost Disruption risks come from disasters natural in theform of floods hurricanes etc man-made in the form of terrorist attacks or wars and from economic crises currency reevaluat
7、ions strikes shifting market prices Most quantitative analyses and methods are focused on operational risksDisruptions are more dramatic less predictable and thus are much more difficultto model Risk management planning and response for disruption are usuallyqualitativeRisk AssessmentTheoretically r
8、isk has been viewed as applying to those cases where odds areknown and uncertainty to those cases where odds are not known Risk is a preferablebasis for decision making but life often presents decision makers with cases ofuncertainty The issue is further complicated in that perfectly rational decisi
9、on makers may have radically different approaches to risk Qualitative risk managementdepends a great deal on managerial attitude towards risk Different rational individuals are likely to have different response to risk avoidance which usually is inversely related to return thus leading to a tradeoff
10、 decision Research into cognitive psychology has found that managers are often insensitive to probability estimates of possible outcomes and tend to ignore possible events that they consider to be unlikely5 Furthermore managers tend to pay little attention to uncertainty involved with positive outco
11、mes6 They tend to focus on critical performance targets which makes their response to risk contingent upon context7 Some approaches to theoretical decision making prefer objective treatment of risk through quantitative scientific measures following normative ideas of how humans should make decisions
12、 Business involves an untheoretical construct however with high levels of uncertainty data not available and consideration of multiple often conflicting factors making qualitative approaches based upon perceived managerial risk moreappropriateBecause accurate measures of factors such as probability
13、are often lacking robust strategies more likely to enable effective response under a wide range of circumstances are often attractive to risk managers Strategies are efficient if they enable a firm to deal with operational risks efficiently regardless of major disruptionsStrategies are resilient if
14、they enable a firm to keep operating despite majordisruptions Supply chain risk can arise from many sources including the following8 Political events Product availability Distance from source Industry capacity Demand fluctuation Changes in technology Changes in labor markets Financial instability Ma
15、nagement turnover Risk AvoidanceThe oldest form of risk avoidance is probably insurance purchasing some level offinancial security from an underwriter This focuses on the financial aspects of risk and is reactive providing some recovery after a negative experience Insurance is not the only form of r
16、isk management used in supply chains Delta Airlines insurance premiums for terrorism increased from 2 million in 2001 to 152 million in 20029 Insurance focuses on financial risks Other major risks include loss of customers due to supply change disruptionSupply chain risks can be buffered by a variet
17、y of methods Purchasing is usuallyassigned the responsibility of controlling costs and assuring continuity of supplyBuffers in the form of inventories exist to provide some risk reduction at a costof higher inventory holding cost Giunipero and Al Eltantawy compared traditionalpractices with newer ri
18、sk management approaches10 The traditional practice relying upon extra inventory multiple suppliers expediting and frequent supplierchanges suffered from high transaction costs long purchase fulfillment cycle timesand expensive rush orders Risk management approaches drawing upon practicessuch as sup
19、ply chain alliances e-procurement just-in-time delivery increasedcoordination and other techniques provides more visibility in supply chain operationsThere may be higher prices incurred for goods and increased security issuesbut methods have been developed to provide sound electronic business securi
20、tyRisk MitigationTang provided four basic risk mitigation approaches for supply chains11 These focuson the sources of risk management of uncertainty with respect to supply to demandto product management and information management Furthermore there are bothstrategic and tactical aspects involved Stra
21、tegically network design can enable better control of supply risks Strategies such as product pricing and rollovers can control demand to a degree Greater product variety can strategically protect against product risks And systems providing greater information visibility across supply chain members
22、can enable better coping with risks Tactical decisions include supplier selection and order allocation including contractual arrangements demand control over time markets and products product promotion and information sharing vendor managed inventory systems and collaborative planning forecasting an
23、d replenishmentSupply ManagementA variety of supplier relationships are possible varying the degree of linkage between vendor and core organizations Different types of contracts and information exchange are possible and different schemes for pricing and coordinating schedules Supplier Selection Proc
24、essSupplier vendor evaluation is a very important operational decision There aredecisions selecting which suppliers to employ as well as decisions with respect toquantities to order from each supplier With the increase in outsourcing and theopportunities provided by electronic business to tap world-
25、wide markets thesedecisions are becoming ever more complex The presence of multiple criteria inthese decisions has long been recognized12 A probabilistic model for this decisionhas been published to include the following criteria131 Quality personnel2 Quality procedure3 Concern for quality4 Company
26、history5 Price relative to quality6 Actual price7 Financial ability8 Technical performance9 Delivery history10 Technical assistance11 Production capability12 Manufacturing equipmentSome of these criteria overlap and other criteria may exist for specific supply chain decision makers But clearly there
27、 are many important aspects to selecting suppliersSupplier Order AllocationOperational risks in supply chain order allocation include uncertainties in demands supply yields lead times and costs Thus not only do specific suppliers need to be selected the quantities purchased from them needs to be det
28、ermined on a recurring basisSupply chains provide many valuable benefits to their members but also createproblems of coordination that manifest themselves in the bullwhip effect14Information system coordination can reduce some of the negative manifestations ofthe bullwhip effect but there still rema
29、ins the issue of profit sharing Decisions that are optimal for one supply chain member often have negative impacts of the totalprofitability of the entire supply chain15Demand ManagementDemand management approaches include using statistics in models for identificationof an optimal portfolio of deman
30、d distributions16 and economic models to select strategies using price as a response mechanism to change demand17 Other strategies include shifting demand over time across markets or across products Demand management of course is one of the aims of advertising and other promotional activities Howeve
31、rit has long been noted as one of the most difficult things to predict over timeProduct ManagementAn effective strategy to manage product risk is variety which can be used toincrease market share to serve distinct segments of a market The basic idea is todiversify products to meet the specific needs
32、 of each market segment Howeverwhile this would be expected to increase revenues and market share it will lead to increase manufacturing costs and inventory costs Various ways to deal with thepotential inefficiencies in product variety include Dell s make-to-order strategySupply Chain DisruptionTang
33、 classified supply chain vulnerabilities as those due to uncertain economiccycles customer demand and disasters Land Rover reduced their workforce byover one thousand when a key supplier went insolvent Dole was affected byHurricane Mitch hitting their banana plantations in Central America in 1998Sep
34、tember 11 2001 suspended air traffic leading Ford Motor Company to closefive plants for several days18 Many things can disrupt supply chains Supply chaindisruptions have been found to negatively impact stock returns for firms sufferingthem19Supply Chain RisksRecent research into supply chain risk co
35、vers many topicsNew Technology RiskGolda and Phillipi20 considered technical and business risk components of the supplychain Technical risks relate to science and engineering and deal with the uncertainties of research output Business risks relate to markets human responsesto products andor related
36、services At Intel three risk mitigation strategies wereconsidered to deal with the risks associated with new technologies1 Partnerships with associated decisions involving who to partner with and atwhat stage of product development 2 Pursue extendable solutions evolutionary products that will contin
37、ue to offervalue as new technical breakthroughs are gained3 Evaluate multiple options to enable commercializationPartner Selection RiskPartner to include vendor evaluation is a very important operational decisionImportant decisions include which vendors to employ and quantities to order fromeach ven
38、dor With the increase in outsourcing and the opportunities provided byelectronic business to tap world-wide markets these decisions are becoming evermore complex The presence of multiple criteria in these decisions has long beenrecognized21Outsourcing RisksOther risks are related to partner selectio
39、n focusing specifically on the additional risks associated with international trade Risks in outsourcing can include22 Cost unforeseen vendor selection transition or management Lead time delay in production start-up manufacturing process or transportation Quality minor or major finishing defects com
40、ponent fitting or structuralDefects Outsourcing has become endemic in the United States especially informationtechnology to India and production to China23 Risk factors include Ability to retain control Potential for degradation of critical capability Risk of dependency Pooling risk proprietarial in
41、formation clients competing among themselves Risk of hidden costsEcological RisksIn our ever-more complex world it no longer is sufficient for each organizationto make decisions in light of their own vested self-interest There is growing concern with the impact of human decisions on the state of the
42、 earth This is especially true in mass production environments such as power generation24 but also is important in all aspects of business Cruz 2008 presented a dynamic frameworkfor modeling and analysis of supply chain networks in light of corporate social responsibility25 That study presented a fr
43、amework multiple objective programmingmodel with the criteria of imizing profit minimizing waste and minimizing riskMultiple Criteria Selection ModelA number of methodologies are applied in practice to include simple screening andscoring methods26 supplier positioning matrices to lay out risks by ve
44、ndor withassociated ratings27 and a combination of sorts combining risk categorization withratings of opportunity probability and severity28 Traditional multiple criteria methods have also been applied to include analytic hierarchy process29 The simple multiattribute rating theory SMART 30 model bas
45、es selection on the rank order ofthe product of criteria weights and alternative scores over these criteria and will be used here Note that we are demonstrating and are not claiming that the orders and ratings used are universal We are rather presenting a method that real decisionmakers could use wi
46、th their own ratings and even with other criteria that theymight think important in a given application OptionsThere are various levels of outsourcing that can be adopted These range from simplyoutsourcing particular tasks much like the idea of service oriented architecture co-managing services with
47、 partners hiring partners to manage services and full outsourcing in a contractual relationship We will use these four outsourcingrelationships plus the fifth option of doing everything in-house as our optionsCriteriaWe will utilize the criteria given below Cost including hidden Lead time Quality Ab
48、ility to retain control Potential loss of critical capability Risk of dependency Risk of loss of proprietarial information Risk of client contentionThe SMART method begins by rank ordering criteria Here assume the followingrank order of importance 1 Ability to retain control2 Risk proprietarial information loss3 Quality of product and service4 Potential loss of critical capability5 Risk of dependency6 Cost7 Lead time8 Ris
