Reports Summarize Risk Management Study Results from Heilongjiang Bayi Agricultural University (Big Data-driven Risk Decision-making and Safety Management In Agricultural Supply Chains): Risk Management

2024 APR 18 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Fresh data on Risk Management are presented in a new report. According to news originating from Daqing, People’s Republic of China, by NewsRx correspondents, research stated, “In the era of digitization, the integration of big data technologies has become instrumental in advancing agricultural supply chain management and bolstering risk decision-making processes. Agricultural supply chains, critical to ensuring food security and bolstering rural economies, face vulnerabilities stemming from a myriad of internal and external elements, including natural disasters and market dynamics.”

Financial support for this research came from Natural Science Foundation of Heilongjiang Province.

Our news journalists obtained a quote from the research from Heilongjiang Bayi Agricultural University, “Consequently, the urgency to adopt effective risk management strategies is paramount. Contemporary studies have explored the utilization of big data in decision-making processes specific to agricultural supply chain risks, predominantly concentrating on preliminary risk prediction and characterization. Nonetheless, there exists a shortfall in comprehensively analyzing the intricate interplay among risk factors and establishing a holistic risk management decision-making framework based on such analyses. This research addresses these deficiencies through two principal investigative components. First, this research explores the analysis of risk factors and their interrelationships in the agricultural supply chain based on a decision tree algorithm with a transition structure. This algorithm enhances decisionmakers’ understanding of risk factors and their interrelationships, and guide the implementation of effective risk mitigation measures and the formulation of contingency plans. Subsequently, the research constructs a corresponding data-driven multi-criteria decision-making method, assisting managers in balancing different risk management strategies in a volatile supply chain environment, considering costs, benefits, and feasibility to formulate the optimal strategy. The innovation of this research lies in the development of a novel risk analysis tool based on the transition decision tree algorithm. This is the first time that such advanced algorithms are applied to agricultural supply chain risk management, filling a gap in the current research.”

According to the news editors, the research concluded: “The outcomes of this study not only contribute to enhancing risk management practices within agricultural supply chains but also offer novel insights and methodological tools that are applicable in research and practices across related domains.”

This research has been peer-reviewed.

For more information on this research see: Big Data-driven Risk Decision-making and Safety Management In Agricultural Supply Chains. Quality Assurance and Safety of Crops & Foods, 2024;16(1):121-138. Quality Assurance and Safety of Crops & Foods can be contacted at: Codon Publications, Level 9, 167 Eagle St, Brisbane, Qld 4000, Australia. (Wiley-Blackwell - http://www.wiley.com/; Quality Assurance and Safety of Crops & Foods - http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1757-837X)

The news correspondents report that additional information may be obtained from Guanghe Han, Heilongjiang Bayi Agricultural University, College of Economics & Management, Daqing, People’s Republic of China. Additional authors for this research include Xin Pan and Xin Zhang.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.15586/qas.v16i1.1445. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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