Relationship and Priority of Risks using ISM and Grey Approach

Abstract

A supply chain should ensure survivability and sustainability. However, a supply chain has been exposed to various risks because of uncertainty, complexity, ambiguity, and etc. These risks expose the vulnerability of a supply chain and threaten the survivability and sustainability of the chain. If a risk occurs in a supply chain, it should be removed or weaken from the supply chain. But, it is not easy to remove or weaken from the chain. Therefore, this study proposes a method to prioritize the risks and to establish a corresponding strategy about them after considering the relationship and fatality of the risks which occur in a supply chain. This study uses Grey approach and Interpretive Structural Modeling (ISM) to propose a method which finds the location, the most vulnerable place, about the risks in a supply chain. Evolutionary Simulation Optimization, and Service Supply