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Digging Deeper into Supply Risk : A Systematic Literature Review on Price Risks
Journal
Supply Chain Management: An International Journal
ISSN
1359-8546
ISSN-Digital
1758-6852
Type
journal article
Date Issued
2014
Abstract
Purpose-Risks related to the purchase prices of industrial consumption factors (raw materials, semi-finished/finished goods, auxiliary materials, and operating materials) exert an increasing influence on manufacturing companies' business continuity and economic sustainability. The aim of this paper is both to provide an overview of existing knowledge pertaining to the management of price risks in manufacturing companies from an operations management (OM) perspective and to establish an agenda for future research.
Design/methodology/approach-A systematic literature review was conducted following the literature search approach of vom Brocke et al. (2009). In total, 138 relevant articles were identified, analysed, and synthesised.
Findings-The literature review reveals that the existing OM literature devotes little attention to price risks and their management in manufacturing companies. In particular, further empirical investigation is required to support decisionmaking in various risk contexts.
Social implications-This paper emphasises that in addition to existing national resource funds and inter-company alliances, alternative concepts are required to secure both stable prices and access to natural resources. Otherwise, in the future, small- and medium-sized companies, along with companies based in countries lacking available resource funds, will not have an opportunity to engage in fair competition.
Originality/value-To the best of the authors' knowledge, this is the first literature review to focus on price as a specific supply risk.
Design/methodology/approach-A systematic literature review was conducted following the literature search approach of vom Brocke et al. (2009). In total, 138 relevant articles were identified, analysed, and synthesised.
Findings-The literature review reveals that the existing OM literature devotes little attention to price risks and their management in manufacturing companies. In particular, further empirical investigation is required to support decisionmaking in various risk contexts.
Social implications-This paper emphasises that in addition to existing national resource funds and inter-company alliances, alternative concepts are required to secure both stable prices and access to natural resources. Otherwise, in the future, small- and medium-sized companies, along with companies based in countries lacking available resource funds, will not have an opportunity to engage in fair competition.
Originality/value-To the best of the authors' knowledge, this is the first literature review to focus on price as a specific supply risk.
Language
English
Keywords
Supply chain risk management
Supply risk management
Price risks
Consumption factors
Procurement
Purchasing
Manufacturing companies
Systematic literature review
HSG Classification
contribution to scientific community
HSG Profile Area
SoM - Business Innovation
Refereed
Yes
Publisher
Emerald
Publisher place
Bingley
Volume
19
Number
5/6
Start page
480
End page
503
Pages
24
Subject(s)
Division(s)
Eprints ID
232813