Identification of Risk associated with Supply Chain Management and Mitigation Plan

Abstract

The supply chain network is changing as a result of the information technology industry's quick expansion, and this increased dependency between organizations. Cost overruns and schedule delays in construction projects are a result of poor Supply Chain Management. This paper investigates the vulnerabilities that construction projects provide to the supply chain. An index system for the project’s supply chain is built by detecting the hazards in the chain. It outlines risk mitigation measures for planning, procurement, manufacturing, transportation, and delivery hazards that are external. Eleven risk variables that could have an impact on the construction Supply Chain were identified from the literature. Following this, a questionnaire survey based on these variables was conducted, and contractors and suppliers in Gujarat provided 25 responses. Additionally, it examines efficient risk-reduction techniques like demand forecasting, supplier diversification, strong logistics networks, and risk monitoring. Organizations may improve the resilience of their supply chains and keep a competitive edge in the fast-paced business world of today by being aware of these risks and putting proactive mitigation plans into place.