Researcher at Department of Agricultural Releases New Data on Risk Management (Identification and assessment of supply chain risks: The case of food hubs): Risk Management

2023 DEC 29 (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 the Department of Agricultural by NewsRx editors, the research stated, “The supply chain risk management literature highlights the importance of ex-ante identification and assessment of risks to ensure continuity of firms, in particular, and the high performance of supply chains in which they operate, in general.”

Financial supporters for this research include National Institute of Food And Agriculture.

The news correspondents obtained a quote from the research from Department of Agricultural: “Supply chain disruptions are harmful and costly for firms. The risk of such disruptions can be particularly consequential for firms in emerging industries that lack resources and for which dominant organizational and supply chain designs do not yet exist. Within local and regional food supply chains, food hubs are nascent enterprises coordinating these supply chains. Building off the existing supply chain risk management literature, this study identifies and assesses the perceived supply chain risks faced by U.S. food hubs. The study employs an exploratory sequential mixed methods research design and the Failure Mode and Effect Analysis methodology for this purpose.”

According to the news reporters, the research concluded: “The results show risks related to imbalances in food supply and demand, logistical delays, human resources, and infrastructure capacity limitations were perceived to be the highest priority supply chain risks for the U.S. food hubs before the COVID-19 pandemic. The study further provides insights on association between food hub characteristics and risk, as well as association between risk preferences and risk perceptions of food hub managers [EconLit Citations: L29 Other (Firm Supply Chain Risk Management)].”

For more information on this research see: Identification and assessment of supply chain risks: The case of food hubs. Agribusiness, 2023. The publisher for Agribusiness is Wiley.

A free version of this journal article is available at https://doi.org/10.1002/agr.21877.

Our news editors report that more information may be obtained by contacting R. Brent Ross, Department of Agricultural, Food and Resource Economics, College of Agriculture and Natural Resources Michigan State University East Lansing Michigan, United States. Additional authors for this research include Tatevik Avetisyan Artoonian, Robert S. Shupp.

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