Analysing the role of adaptive risk management in empowering digital supply chain resilience

Abstract

The business landscape is evolving as more volatile and unpredictive, which stresses the need for more agile supply chain systems. With a focus on building robustness and adaptability, organizations need to opt for digital tools and strategies that can be harnessed to build more resilient supply chain networks. This research aims to explore the dynamics of adaptive risk management strategies and how those contribute toward digital supply chain resilience. The study delves into the integration of adaptive risk management practices into the digital supply chain system and analyzes the associated challenges.

The impact of risk management strategies to foster digital supply chain resilience is vital across various sectors; however, the disruptions can be particularly profound in the manufacturing industry, where supply chains are highly globalized and complex. The manufacturing sector plays a key role in the UK's economy, and this study offers a unique opportunity to explore how digital technologies can enhance supply chain resilience, particularly in the aftermath of Brexit and a shift toward Industry 5.0 paradigm. The adoption of digital technologies, like artificial intelligence and big data analytics, is examined in this study identifying challenges, opportunities, and best practices. The collaboration and extent of engagement of key stakeholders are analyzed to identify the constraints in the process of integrating adaptive risk management practices into the supply chain of the UK manufacturing sector.

The context of this research is highly relevant for the organizations seeking to develop more flexible and responsive risk management strategies to enhance the resilience in their supply chain system. The study will offer a roadmap to opt for more responsive risk management and integrate digital technologies into supply chain to enhance operational efficiency, effective risk handling and offer guidance in developing policies promoting the adoption of digital technologies and more transparent supply chain operations.