Enterprise risk management in supply chain operation: a fuzzy risk prioritization approach

Benchmarking An International Journal, Journal Year: 2024, Volume and Issue: unknown

Published: Sept. 10, 2024

Purpose Traditional risk prioritization methods in Enterprise Risk Management (ERM) rely on precise data, which is often not available real-world contexts. This study addresses the need for a robust model that can handle uncertain and imprecise information more accurate assessment. Design/methodology/approach We propose group decision-making approach using fuzzy numbers to represent attributes preferences. These are converted into scores through defuzzification, providing reliable method ranking. Findings The proposed framework improves awareness businesses. It offers ranking of enterprise risks, enhancing control performance supply chain operations by effectively representing uncertainty accommodating multiple decision-makers. Practical implications adoption this lead significant improvements management across various industries. By decision-makers, organizations achieve assessments, ultimately operational efficiency strategic decision-making. serves as guide firms seeking refine their processes under conditions information. Originality/value introduces novel weighted Priority Number validated process an integrated steel plant. first apply industry, demonstrating its practical effectiveness results contribute significantly assessment literature provide benchmarking tool improving ERM practices.

Language: Английский

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Role of AI in MSMEs and Its Impact on Financial Performance and Business Sustainability

Advances in finance, accounting, and economics book series, Journal Year: 2025, Volume and Issue: unknown, P. 323 - 336

Published: Jan. 31, 2025

The book chapter is a deep dive into the revolutionary impact of artificial intelligence (AI) technologies on many small and medium-sized businesses (SMEs) elements. Through series case studies, it examines how AI-driven solutions are not just transforming but revolutionizing critical areas SME sector, including credit scoring, inventory management, marketing campaigns, fraud detection. It's question if SMEs should adopt AI, when how. delves practical application automated scoring for firms. It showcases AI algorithms can efficiently analyze large datasets to quickly accurately assess creditworthiness, thereby enabling easily access crucial financial resources. Shifting focus retail, explores AI-powered management systems, illustrating machine learning optimize stock levels, reduce costs, enhance customer satisfaction by ensuring products always available needed. also personalized campaigns e-commerce SMEs, behavior preferences create targeted effective strategies, leading increased sales engagement. Lastly, addresses issue detection prevention in services SMEs. demonstrates advanced technologies, such as anomaly predictive analytics, identify fraudulent activities, safeguarding customers. these compelling underscores immense potential empowering achieve operational efficiency, stability, competitive advantage ever-evolving business landscape. However, it's important consider ethical implications using These include specific implications, which need be carefully addressed. This reiteration AI's serves powerful reminder transformative role play success highlights responsible approach its adoption.

Language: Английский

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Entropy-Weighted TOPSIS-Based Bird Strike Risk Assessment for an Airport

International Journal of Computational Intelligence Systems, Journal Year: 2025, Volume and Issue: 18(1)

Published: Feb. 10, 2025

Language: Английский

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Evaluation of green supply chain resilience considering environmental regulation: an improved group decision-making approach

Annals of Operations Research, Journal Year: 2025, Volume and Issue: unknown

Published: March 5, 2025

Language: Английский

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Risk prioritization in enterprise supply chains: application of fuzzy analytic hierarchy process

Business Process Management Journal, Journal Year: 2025, Volume and Issue: unknown

Published: March 28, 2025

Purpose The study aims to develop a robust, fuzzy, data-driven ERM model that incorporates the decision-makers’ varied levels of expertise and relative importance risk factors. Design/methodology/approach presents robust multi-criteria fuzzy integrates inputs from multiple decision-makers enhance prioritization in supply chain operations. It employs triangular numbers normalize decision-maker weights uses AHP determine criteria weights. Risks are evaluated using linguistic terms, such as FMEA, followed by weighted aggregation. Finally, defuzzification generates priority for ranking risks. Findings This approach enhances user-friendliness promotes greater acceptance, making particularly suitable implementation typical steel plant settings, which may be extendable general industry with modifications parameters on “case-to-case” basis. Research limitations/implications Due its advanced calculations multi-step processes, framework’s complexity deter adoption, especially organizations unfamiliar logic. Implementation demands specialized training or software support, posing challenges smaller enterprises. Customization specific industrial contexts requires substantial resources, adoption difficult resource-constrained organizations. Practical implications proposed framework delivers more nuanced management integrating imprecise information leveraging diverse expertise. contribution broadens knowledge, within context complex, multi-tiered risks, advancing beyond traditional linear perspectives literature. Originality/value is novel terms successful validation under environment combined FMEA.

Language: Английский

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An integrated supply chain risk mitigation tool – model, analysis and insights

International Journal of Management Science and Engineering Management, Journal Year: 2024, Volume and Issue: unknown, P. 1 - 16

Published: Dec. 18, 2024

This study proposes a two-phase approach to create insights into disruptions, allowing managers mitigate supply chain risks using an integrated risk-mitigation tool. In the first phase, we formulate problem as Markov Decision Process (MDP) that maximizes expected long-run revenue induced by risks, given current state of risk score. We map four decision states specific managerial actions: 'do nothing,' 'track supplier,' 'monitor and 'change supplier.' If optimal policy is nothing', then scores are continued be monitored. For supplier', firm will track supplier's performance internally. hire external contractor monitor risks. from phase 1 identify best-performing supplier best-worst goal programming (BWGP) method. demonstrate method on global automation technologies company. An MDP-based mitigation tool yields promising approach. Results based metrics show BWGP can used in with MDP

Language: Английский

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Service quality management under risk prioritization and imprecise information: a hybrid fuzzy approach

The TQM Journal, Journal Year: 2024, Volume and Issue: unknown

Published: Nov. 28, 2024

Purpose Conventional risk prioritization methods rely on crisp inputs but struggle with imprecise data and hesitancy, resulting in inaccurate assessments that affect service information quality performance monitoring. This study proposes a fuzzy data-driven model for under information. Design/methodology/approach Enterprise management is crucial management, ensuring effective identification, assessment mitigation of risks impacting delivery customer satisfaction. paper multi-criteria involving multiple decision-makers. It introduces hybrid method combining intuitionistic hesitant group decision-making to assess better prioritize based decision-maker preferences. Findings The proposed improves business operations by efficiently representing uncertain traditional frameworks. helps identify potential advance enhances control over operations, enabling organizations benchmark best practices. Accordingly, acquire background knowledge their quality. This, turn, management. Research limitations/implications Despite the advantages models prioritization, such as mimicking human reasoning more accurately, complexity can hinder adoption. intricate computational steps may deter shop-floor managers who prefer straightforward conventional RPN approach, which easier understand implement. However, while developing require effort, its benefits become apparent time. Once developed, be integrated into software applications, allowing decision-makers use it easily. integration simplifies computations leading informed improved long term. Practical implications robust framework integrating expertise, reliable outputs enhance strategic decisions operational efficiency. Originality/value We validate approach at an steel plant’s process, covering broad areas domain. To our knowledge, no exists existing literature attempting explore efficacy practices prime sectors like steel. study’s novelty backed this validation experiment, indicates effectiveness results obtained from multi-attribute methodology practical. model’s outcome substantially adds value current significantly affects

Language: Английский

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Development of a conceptual model on I4.0 technologies’ influence on SCR

Business Process Management Journal, Journal Year: 2024, Volume and Issue: unknown

Published: Dec. 7, 2024

Purpose In a dynamic and uncertain business environment, it is necessary for companies to adapt be capable of addressing the changing circumstances ensure continuity. Hence, are employing advanced Industry 4.0 (I4.0) technologies. This study aims explore role I4.0 technologies in facilitating companies’ development towards supply chain resilience (SCR). Design/methodology/approach The adopted structured approach Preferred Reporting Items Systematic reviews Meta-Analyses (PRISMA) identify 234 articles. Under PRISMA, we three-phase methodology planning, conducting reporting review results. data these articles were synthesized using Scopus database investigate relationship between SCR. Findings study’s findings map appropriate different nodes bridge literature gap intersection results indicate achieving key functions an organization through technologies-enabled sourcing, manufacturing, distribution return (I-SMDRR) framework. I-SMDRR framework also depicts being moderated by internal external risk factors. Originality/value offers unique mapping Additionally, delineates theory-mapped research gaps helpful future researchers. summary, this systematic identifies components that lead developing

Language: Английский

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Blockchain-based E-commerce Transaction Verification Mechanism Design and Performance Evaluation

Applied Mathematics and Nonlinear Sciences, Journal Year: 2024, Volume and Issue: 9(1)

Published: Jan. 1, 2024

Abstract With the development of blockchain technology and increased demand for its application in e-commerce. However, encryption algorithm traditional poses a risk to data security protection. Therefore, this paper builds secure cryptographic protection by means secondary interactive verification interaction process e-commerce transaction through hash function. Then, e-commerce, an electronic protocol with privacy is proposed. The effectiveness blockchain-based transactions analyzed according correctness security. questionnaire study has good reliability based on analysis relevant data, where overall all variables 0.865. There positive correlation between efficacy correctness, anonymity, resistance simulation attacks, accountability protocols at 5% significance level. traceability, non-repudiation, replay attacks not significant. E-commerce = 0.326* + 0.455* anonymity 0.354* traceability 0.254* non-repudiation 0.171* 0.445* 0.552* protocol. factor greatest impact contribution blockchain.

Language: Английский

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A new tool for evaluating supply risk management

Production, Journal Year: 2024, Volume and Issue: 34

Published: Jan. 1, 2024

Language: Английский

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