Rajshahi University of Engineering and Technology: Department of Industrial & Production Engineering A Thesis Report On

Heaven’s Light Is Our Guide
Rajshahi University of Engineering and Technology
Department of Industrial & Production Engineering
A thesis report on
Supply Chain Risk Management in Bangladesh
This thesis is submitted in partial fulfillment of the requirements for the degree
of Bachelor of Science in IPE at Rajshahi University of Engineering & Technology,
Rajshahi, Bangladesh
Supervised By: Submitted By:

Dr. Md. Mosharraf Hossain Ariz Ahmad Zadid
Professor MD.Asaduzzaman Mim
Rajshahi University of Engineering & Technology
Rajshahi University of Engineering & Technology
Bangladesh
I
Certificate
This is to certify that the thesis entitled “Supply Chain Risk Management
in Bangladesh” has been carried out and under my supervision in the
Department of IPE Engineering at Rajshahi University of Engineering & Technology,
Rajshahi, Bangladesh.
Supervised by Signature of the student
…………………………………… …………………………………….
Dr. Md. Mosharraf Hossain Md. Asaduzzaman Mim
Professor Roll: 1505031
Department of IPE Ariz Ahamed Zadid
RUET, Rajshahi – 6204, Bangladesh Roll: 145002
External
II
Acknowledgments
At first thanks with great respect, the author wishes to express his deep gratefulness
to the Almighty Allah for the successful completion of the thesis work by His
grace and mercy.
The author would like to acknowledge his sincere and heartiest gratitude to the
honorable research supervisor, Dr. Md. Mosharraf Hossain, Professor, Department
of Ipe, Rajshahi University of Engineering and Technology (RUET) for his
constant guidance, valuable suggestion, constant encouragement, and unflagging
perseverance throughout the progress of research work and preparation of this
report. The author is grateful for his intellectual and potential supervision in
achieving the objectives and goals of the research project.
RUET, Rajshahi Author
February, 2021
III
Abstract
With the advancement of information technology & Transportation Supply

Chain has now become more and more complex. A lot of organizations &
groups have now been involved in various phases of a supply chain. Supply
Chain Risk Management (SCRM) is the buzzword of the modern industrial
revolution. A company has to ensure maximum efficiency and profit. Including
effective flow of products & materials in the Supply Chain. At the same time,
there is constant pressure on companies to improve the efficiency of their
supply chain, making the movement of the material cheaper and quicker,
reducing the inventory. This constant pressure needs to be handle else more
pressure shall fall upon the companies. Thus a risks free supply chain is
required. These risks are unexpected events that might disrupt the supply chain
or any preplanned operations. Supply Chain Risk Management is not being
used effectively in Bangladesh. In this thesis, we emphasize thoroughly
categorizing the steps involved in SCRM & their impact on the decision-
making and output scenario. Implementation of SCRM in Bangladesh can help
resolving unwanted events which will effectively improve the company's
overall efficiency. With the recent effect of the covid19, it has become a must
for the companies to develop and adapt to the supply chain risk management to
maintain the safety of both workers and customers.
IV

CONTENTS
List of Contents Page No

Certificate ii
Acknowledgments iii
Abstract iv
Chapter 1 1
Introduction
1.1. Introduction to Supply Chain Risk Management 2
1.2. Supply Chain Risk 4
1.3. Background & Research Motivation 5
1.4. Problem Statement 6
1.5. Impact of Covid19 7

1.6. Distinguishing of the disruptions 11
Chapter 2 13
Literature Review, Research Gap & Objectives
2.1. Literature Review 14
2.2. Research Gap 23
2.3. Objectives 23
2.4. Significance of the work 24
Chapter 3 25
Methodology
3.1. Determination of Risk 26
3.2. Supply Chain Risk Management Process 26
3.2.1. Risk Identification 28
3.2.2. Risk Assessment 31
3.2.3. Risk Management 33
3.2.4. Risk Mitigation 34
Chapter 4 35
Schematic Modelling
4.1. Domestic Supply Chain Management Process 36
V
List of Contents Page No

4.1.1. Risk Identification 37
4.1.2. Collection of Data 38
4.1.3. Analysis of Data 39
4.1.4. Decision Making 39
4.1.5. Applying Risk Management Strategies in Current Supply 41
Chain
4.1.6 Implementation of Supply Chain Risk Management 41
Strategies
4.1.7. Mitigation of Supply Chain Risk 42
4.1.8. Checking Health Safety 42
Chapter 5 43
Conclusion and Recommendation
5.1. Conclusion 44
5.2. Recommendation 44
Chapter 6 45
Reference
6.1. Reference 46
VI
LIST OF FIGURES
No. of Title Page No

Figure
1.1 Supply Chain System. 2
1.2 Transportation Accidents. 3
1.3 Recent Data summary of covid19 (WHO) 8
1.4 Lockdown status of the districts in Bangladesh 10
3.1 SCRM Process 27
3.2 Risk in Supply Chain 29
3.3 Disruption VS Number of times the Disruption Occurred. 32
4.1 Domestic Supply Chain Risk Management Framework 36
VII
LIST OF TABLES
No. of Title Page No

Table
1.1 Hampered organizations due to COVID-19 8
1.2 Different between companies using SCRM and companies 11
not using SCRM
4.1 Categorizing Risk 37
4.2 Listing Data related to Risk 38
4.3 Calculation of data and Conclusion. 39
4.4 Supply chain types and risk management strategies 40
4.5 Selection of Risk Management Strategies 41
VIII
Chapter 1
Introduction
1

1.1. Introduction to Supply Chain Risk Management :
The most important thing to a manufacturing company is that it can achieve customer
satisfaction through selling products or services. There are numerous companies in
Bangladesh most of them struggle with different problems while giving the product
or service to the customer. Firstly the company has to buy raw materials to make the
product through machine work or manual labor. Next, the product is sent to a dealer
or retail shop which is sent through logistics or delivery services. Then the product is
handed over to a customer or ultimate customer. Though in words it sounds very
easy but it is far from an easy task. There are many problems the company faces
while delivering the product to the customer. These are commonly known as the risks
of a supply chain.
Supply chain risk management (SCRM) is "the implementation of strategies to

manage both everyday and exceptional risks along the supply chain based on
continuous risk assessment to reduce vulnerability and ensure continuity.[1]
Figure 1.1: Supply Chain System.
2

A supply chain is a system of organizations, people, activities, information, and
resources involved in supplying a product or service to a consumer. Supply chain
activities involve the transformation of natural resources, raw materials, and
components into a finished product that is delivered to the end customer. While
delivering the product to the end customer the system may face several crises or
problems for which the company may face loss and will not be able to deliver the
product to the customer. Within those problems that occur some are come with a
warning and do not.
For example, if the area where the company is located was about to have a tycoon
hit, it will be able to check the news and get an early warning and thus stop sending
products through transportation or secure the area of the company so that the tycoon
does no or less damage. Again another type of problem occurs without any sort of
warning, like while transportation is moving products from one place to another the
vehicle suddenly got in an accident which was unexpected and is a great risk or risk
factor in the net profit of the company.
Figure 1.2: Transportation Accidents.
3

SCRM applies risk management process tools after consultation with risk
management services, either in collaboration with supply chain partners or
independently, to deal with risks and uncertainties caused by, or affecting, logistics-
related activities, product availability (goods and services), or resources in the supply
chain.[2]
1.2. Supply Chain Risk :
Supply chain risk is the probability of a disruption occurring within a supply chain
and its impact on the company. These disruptions can cause a loss in customer or loss
in product in any case the disruption causes a huge loss in the company and therefore
the company takes a lot of time to recover. These risks need to be removed or
minimized for the improvement of the company to avoid losing stock or popularity.
Risks within supply chains may be classified using various methods and considering
several aspects (economic, natural, policy, etc.). Svensson Göran said supply chain
risk can be divided into sources and types of risks. Sources of risks can be atomistic
and holistic. Again risks in the supply chain can be classified as quantitative and
qualitative [3][4]. Manuj and Mentzer state eight possible risks, which they divided
into four categories of risks related to the supply chain, whereas the remaining four
are the risks related to the environment. They are supply risks, operational risks,
demand risks, security risks, macro risks, policy risks, competitive risks, and
resource risks [5][6].
In practical cases, the only real risk faced by a company is what the company needs
to tackle and cope with. For example, a company has a fire breakout in the
manufacturing section thus it has to be more careful so as not to make another fire
outbreak, even if they try to be careful now and then there might be another fire
outbreak in which case the company has to ready to fight the fire and save their loss.
4

1.3. Background & Research Motivation :
Bangladesh is a South Asian developing country. With a manpower of 166 million,

it has a promising GDP growth in recent years. In the globalization process, this
country is contributing to the world economy day by day.
A lot of international investors are getting interested in investing in this country's

economy. So sustainable supply chain with minimum risk is necessary to attract
more attention from foreign investors. But supply chain risk management procedures
is not properly implemented in our country. In this competitive economic revolution,
a company has to be sure about the upcoming risk, unwanted events that could occur
in the supply chain. Without properly implementing Supply Chain Risk Management
(SCRM), supply chain strategy, planning, operation can get disrupted and Create a
huge loss.
In this thesis, we are focusing on proper introduction and implementation.

Uncertainty and risk are part of doing business. In recent years, many companies
have faced supply chain disruptions that can strongly impact the performance of
these organizations. supply chain risk is everywhere, just waiting for million-dollar
disruption. Many major and minor types of crisis occur on average to a company.
It could be coming from an early flash flood in the Haor area, massive student
protests for road safety, the coal theft from Barapukuria mine, cyber heist of
Bangladesh Bank, or even from a disgruntled employee or former partner. Even it
could come in anytime without further notice-so the supply chain management team
should prepare themselves to mitigate those risks.
5
1.4. Problem Statement:
Supply Chain Risk Management is used in almost every established

organization. In our country very few uses and implements the SCRM. The
disruption that can be caused by the unanticipated risk can cause any
organization serious trouble in their day to day operation or in long run.
Moreover, domestic supply chain can be hampered greatly.
Before going into the lockdown we were undergoing a study where we were trying
to find out to what context the supply chain of a business can be disrupted by sudden
and unpredictable event or risk. Any disruption can cause long time or short time
delay or loss in any organizations activities. Proper implementation of SCRM in any
Supply Chain is necessary. But situation created due to covid19 lockdown our
country faced tremendous bottleneck due to the cancelation of international flights.
That lead large organization to small organization suffer greatly as importing and
exporting both was greatly hampered.
Due to nationwide lockdown Labors were unable work in their designated working
sector. Scarcity of manual labor was faced. Moreover other risk factors continuously
present .
6

1.5. Impact of Covid19 :
We all know that covid19 started and turned into a pandemic in the city of Wuhan,
the capital city of Hubei province of China. Wuhan is very much important to many
global supply chains. Wuhan has been a traditional base of manufacturing for a long
time. Over 200 of the fortune global 500 farms have a presence directly in Wuhan.
160 three of the fortune 1000 have their Tier 1 suppliers (those they do direct
business with). 138 have one or more Tier 2 suppliers (which feed the first tier).
Just because one doesn’t have Any direct suppliers in the impacted areas of China
doesn't mean that they are safe from disruption. Because Covid19 has been spread in
almost every country of the world. The pandemic was initiated in an unfortunate
timing. It was the “Lunar New Year” in China. One of china’s most important
holidays. The holiday starts on January 24 with an expected opening date of February
2. An estimated 385 million people Travel in China during the lunar new year period.
It gives all the employees of the factories in China to spend some time with their kith
and kin and return to their residence no matter where or which country they live.
Companies that do significant business with China are aware of this Shutdown and
many placed large inventory orders in advance to ensure that they had supply to
cover this period. This closure of the factories enables the government to extend
mandatory factory shutdowns to support efforts taken to control the virus. But due to
the severity of the situation, many factories were asked to remain closed one more
week after the vacation had ended. So, the expected running and beginning of
operations of the factories were delayed. The return of the workers from their
vacation was greatly hampered due to the pandemic. As a result, the production rate
of the factories decreased in a huge number due to the slow start of manufacturing
during the pandemic. And day by day the situation got worse, international flights
were canceled.
7

FedEx began to work with the us government as they only kept their emergency
flights running for supplying emergency commodities and industrial goods. And
gradually all other business sectors faced something that no one anticipated.
According to the ILO (International Labor Organization the following sectors were
hampered greatly :
TABLE 1.1: Hampered organizations due to COVID-19.
Emergency services Catering sector
Public health Retail sector
Food retail Traveling sector
Textile, clothing Tourism
Civil aviation Automotive sector
Education sector Media culture
Figure 1.3: Recent Data summary of covid19 (WHO).[4]
8

In Bangladesh, on March 23, 2020, in the wake of three deaths and 25 infections of
COVID-19 [7], the Bangladesh government imposed a nationwide holiday and
lockdown initially from March 26 to April 4, 2020 [8], and later extending the
general holiday to April 11, and then to April 30, 2020. Finally, the government
extended the general holiday and airport and road lockdown until May 30, 2020 [9].
Until April 17, 2020, out of 64 districts of Bangladesh, 38 districts were completely
under lockdown and 17 were under partial lockdown [10]. As of September 14, 2020,
Bangladesh had a total of 341,056 confirmed COVID-19 cases, with 245,594
recovered and 4,802 deaths [7].
The COVID-19 induced turmoil, however, could substantially undermine the

economic achievement of Bangladesh by affecting trade and the garment industry of
Bangladesh. Bangladesh is the second-largest garment exporting country in the world
after China, where, in more than 4,000 garment factories, more than 4.4 million
workers are employed, the majority of whom are female [11]. Bangladesh,
reportedly, until August 2020, export order worth US $ 3.18 billion has been
canceled, which affected the employment of 2.28 million garment workers [12].
The nationwide lockdown and movement restriction can also severely undermine the
economic achievement of Bangladesh by directly curbing the wage-earning
opportunity of the economically employed labor force. In 2016–17, the economically
active employed labor force (15 years and above) of the country was 60.8 million, of
which 85.1% were informal workers. The share of informal workers is the highest in
the farm sector, in which out of a total of 24.7 million employed workers, 95.4% of
them are informally employed [13].
9
Figure 1.4:Lockdown status of the districts in Bangladesh [14]
10

1.6. Distinguishing of the disruptions :
There is no denying that almost all the companies of the world large or small
have faced consequences related to the devastating outbreak of covid19.
Although the severity of the consequences faced can be distinguished between
into two based on how well they have implemented supply chain risk
management.
Table 1.2: Different between companies using SCRM and companies not using SCRM.
Companies that have adopted SCRM Companies who haven't adopted SCRM
Developed and Implemented SCRM Reliant on a single geography/single

supplier
Diversified their supply chain from a Don’t possess enough visibility across
geographic perspective to reduce the extended supply networks
supply-side risk
Multi-sourced their key commodities to Don’t have the upgraded system to

reduce their reliance on any one supplier understand their inventory status
Developed strong relationship with key Don’t have flexible logistics networks
suppliers to ensure the flow of goods.
Have an upgraded system to provide Less investment in supply chain

visibility across the supply network planning and control tower solutions.
Have developed agility within their Require more time for recovery
production and distribution networks.
Invested in supply chain planning &

control tower solution.
Require less time of recovery
11
From the above discussion, it's easy to predict that companies who have invested,
developed, adopted SCRM will likely overcome or reduce the disruptions caused
by any unpredictable event. So, the disruptions faced by these two types of
companies or organizations will be different.
SCRM helps a company to see in which part it is losing its efficiency and profit.
And then taking different steps helps the company to improve its efficiency and
lessen the losses thus maximizing the efficiency and profit with a visual
understanding of the situation a company is facing.
There are many problems a company faces internally and externally. Excluding
Covid19 there is a lot of disruptions that may cause problem in supply chain
these are :
 Factory fires and explosions (the most common occurrences)
 Floods
 Storms
 Strikes
 Terrorism (Criminal activities)
 Cyberattacks
 Civil unrest
 Forest fires
12
Chapter 2
Literature Review, Research Gap &

Objectives
13

2.1. Literature Review:
Ila Manuj & John. T Mentzer (2008) [5] explored the phenomenon of risk
management and risk management strategies in global supply chains. Also trying to
maximize profit with minimum loss through the help of SCRM (Supply Chain Risk
Management). The interview of different senior supply chain executives to find out
what different companies do to stop supply chain disruption. After briefly
explaining the process of SCRM six risk management strategies were introduced
through this paper. Finally giving a Model through which Global Supply Chain Risk
can be managed and mitigated.
Hendrik Van Landeghem & Hendrik Vanmaele (2002) [17] introduced a new type
of model for demand chain planning which is known as Robust planning. This
system is more probabilistic rather than deterministic. It uses Demand Chain
Planning and Supply Chain Planning to create more or less products from the
manufacturing company. Robust Planning collects various primary data from
various geography and timeline. The systems first & foremost priority was given to
the satisfaction of the customer demand. It was able to give graphical feedback to
the decision-maker but domestic supply chain risk factors were not given much
priority and no possible solution to these factors was not given. We would like to
work on domestic supply chain risk factors.
Theodore P. Stank, J. Paul Dittmann, and Chad Autry (2011) [18] researched that,
although most of the companies supply chain management team are aware of the
existence of risk on the supply chain and its impact, none of the companies who
were surveyed has outside expertise in assessing risks on their supply chain. Most
of these companies do not quantify risk when outsourcing production, and all of the
companies recognize insurance as a mitigation tool but do not effectively use this
tool.
14

Slack, N., Brandon-Jones, A., & Johnston, R. (2016) [19] described that risks can
come from various sources. Some of them could be avoided, others not, but this
uncertainty in future events should be studied and analyzed. Risk management is
about identifying operations that involve risk, trying to prevent the failure before it
happens, stopping them when they do happen, reducing the negative consequences
in these events, and trying to recover the operations as planned.
Longfei He, Mei Xue, and Bin Gu (2020) [20] has created an Internet of
Things(IoT) enabled system to help supply chain management. This system gives
new ways of supply-chain operations partially based on big-data analytics and
changes like industries. It aims to create a data-driven operation decision-making
industry and uses smart connected products (SCPs) to control the supply chain.
Thus the system would always make the best use of data and increase or decrease
the manufacturing rate while satisfying the demand of customers.
Mohammed Belal Uddin and Bilkis Akhter (2019) [21] investigated the institutional
and significant competencies that have allowed organizations to employ supply
chain management (SCM ) practices, the practices of SCM, and the benefits of SCM
practices for both buyers and supplier. The study did not a find positive relationship
between organizational compatibility and SCM practices. The study found
relationships between mutual trust and SCM practices, communication and SCM
practices, and cooperation and SCM practices, which were positive and significant.
William Ho, Tian Zheng, Hakan Yildiz and Srinivas Talluri (2015) [22] reviewed
how supply chain risk management helps to lowering the uncertainties. Researchers
have focused on supply chain risk management (SCRM) by contributing in the areas
15

of defining, operationalizing, and mitigating risks. Review and synthesis of the
extant literature in SCRM in the past decade was done comprehensively.
Tasnuba Nasir, Mohammed Quaddus, and Mohamamd Shamsuddoha (2014) [23]

investigated the main risk factors associated with the dairy industry along with
focuses on possible mitigation strategies to mitigate those risks. A qualitative field
study has been undertaken in this research. The results of the interviews identify the
different risk issues along with the possible mitigation strategies, embedded at
storage, processing, and distribution level in the dairy industry of Bangladesh.
Though there are strategies to mitigate the risks that still exist and may occur
without warning.
Dr. Md. Moniruzzaman (2016) [24] researched how the Pharmaceutical industry
Eskayef Bangladesh Managed its supply chain. The study showed that Eskayef
Bangladesh had a very good supply chain that was able to give good customer
satisfaction while trying to keep it disruption-free. Eskayef Bangladesh uses
different ways to conduct analysis of data and check how they can improve the
overall outcome. Thus concluded that the Eskayef Bangladesh Company was very
successful in the domestic market but wanted to improve their quality so that they
can grow and sell products to international markets.
Engelseth and Hao Wang (2018) [25] aimed to develop a strategy using big data in
association with long-linked physical goods supply focusing on risk management.
The study was grounded on the importing of machine parts from shanghai, China to
Norway. This Supply chain dynamics represent an important source for data
acquisition for big data analytics. This data analytics enhances different operations
thus lowering future risk and help mitigate risk in long-linked supply chains. A new
16

way of processing big data is discussed and proposed, adapted to supply chain
management and industrial marketing functionality.
Md. Abdul Quddus, A.M.M. Nazmul Ahsan, and Azizur Rahman (2012) [26]
researched firms that have adopted supply chain management as a critical element
of their corporate strategies. Collaboration is a recent trend in Supply Chain
Management (SCM) that focuses on joint planning, coordination, and process
integration between suppliers, customers, and other partners in a supply chain. The
paper aimed to investigate collaborative supply chain practices in Bangladeshi
companies. Then it was compared with the developed countries industries. After
establishing an effective collaborative system the realized benefit of collaborative
supply chain management has been depicted. Also a collaborative model for the
effective design and execution of supply chain collaboration from Collaborative
planning forecasting and replenishment (CPFR). To investigate Bangladeshi
industries collaborative practice a questionnaire was designed.
Smita Rani Debnath, Mazedul Islam (2017) [27] aimed to identify the current status
of Supply Chain Management (SCM) in the Textile & Clothing Industry of
Bangladesh. Mainly trying to pinpoint where the main issue was regarding the
supply chain, such as inventory management, Longer Lead time, collaboration,
technology & logistics management. Also to relate it to the Modern Supply Chain in
relevant to future Demand for the sustainable growth of this Industry. The textile
industry of Bangladesh has been occupying as the largest source of exports and
foreign currency for the country. The export-oriented Ready-Made Garments
(RMG) sector has some distinctive features, which differentiate it from other
businesses. Whatever the wage level or lead time is without proper supply chain
management no business is viable. The endeavor was to manage and exploit the
opportunity that lies in an integrated supply chain that will provide a competitive
17

advantage to the Bangladesh garment factories. The study reveals that the decision-
makers and planners of the Textile & Clothing Industry should align their supply
chain strategies, work together with all the supply chain partners, share information
among the stages of the supply chain, have a standard SCM procedure, comply with
the code of conduct, adapt changing technologies, minimize corruption and
bureaucratic tangles in customs, cut lead time etc to sustain its growth.
V. M. Rao TummalaTobias Schoenherr and Tobias Schoenherr (2011) [28] this

paper proposes a comprehensive and coherent approach for managing risks in
supply chains. Building on Tummala et al.'s Risk Management Process (RMP) a
structure is developed and ready to use approach for managers to assess and manage
risks in supply chains. Supply chain risks can be managed more effectively when
applying the Supply Chain Risk Management Process (SCRMP). The structured
approach can be divided into the phases of risk identification, risk measurement and
risk assessment; risk evaluation, and risk mitigation and contingency plans; and risk
control and monitoring via data management systems. This paper presents a
framework that provides a clear meaning and normative guidance while offering
structure and decision support for managers.
Md. Abdul Moktadir, Syed Mithun Ali, Sanjoy Paul, and Nagesh Shukla (2018)
[29] researchers used Big Data Analytics(BDA) in decision making for the
manufacturing supply chain. Though BDA is a great method in supply chain
management, there are many barriers to the adoption of BDA in manufacturing
supply chains. Thus manufacturing companies need to identify and examine the
nature of each barrier. This paper aimed to identify and examine the critical barriers
to the adoption of BDA in manufacturing supply chains in the context of
Bangladesh. This research explores the existing body of knowledge by examining
these barriers using a Delphi-based analytic hierarchy process (AHP). Data were
18

obtained from five Bangladeshi manufacturing companies. The findings of this
research are as follows: i) data-related barriers are most important, ii) technology-
related barriers are second, and iii) the five most important components of these
barriers are a) lack of infrastructure, b) complexity of data integration, c) data
privacy, d) lack of availability of BDA tools and e) high cost of investment. The
findings can assist industrial managers to understand the actual nature of the barriers
and potential benefits of using BDA and to make policy regarding BDA adoption in
manufacturing supply chains. A sensitivity analysis was carried out to justify the
robustness of the barrier rankings.
Peter Mensah and Yuri Merkuryev (2014) [30] companies nowadays are under a lot
of pressure to cope with the increasing demand chain thus companies operate in
uncertainties where high risks are faced. If anytime these risks become reality, they
will harm the supply chain of these organizations, resulting in deformations that
could lead to a drop in profitability and competitive advantages. This paper analyses
the supply chain and the risks it faces, investigate the resilience of the supply chain,
and gives appropriate strategies and tools that would help avoid these risks, and as a
result, an organization would be able to bounce back after any disruption along its
supply chain.
Mohammad Mazbha Uddin (2015) [31] researched how to keep a constant Supply
chain which is a very vital issue due to the business interest. This paper offered a
literature review on sustainable supply chain management taking papers published
from 1990 to date into account. Secondly, it offers a conceptual sustainable supply
chain process model in light of the triple bottom line theory. The researcher takes
in-depth interviews for developing the model among the Poultry entrepreneurs. The
sustainable supply chain management research numbers are not sustaining. Among
these most of the previous research focus on the environmental, social, and
19

economic aspects of standalone fashion in the supply chain. Most of the previous
studies were based on dominant conceptual nature. Research on sustainable supply
chain management based on comprehensive empirical is very few. This paper
focused on triple bottom line sustainability like – social, economic, and
environmental that are related to Bangladesh's supply chain.
Yan Coelho Albertin (2017) [32] researched supply chain risk management in
companies. As there is constant pressure on managers to improve the efficiency of
their supply chain, making the movement of the material cheaper and quicker,
reducing the inventory, and use just-in-time (JIT) or lean operations. This complex
and wide supply chain combined with this pressure on the managers brings many
risks to the supply chain. These risks are unexpected events that might disrupt the
flow of materials or the planned operations. They can be late deliveries, poor
forecast, or involve rarer scenarios such as hurricanes and earthquakes.
Nevertheless, the risk on the operations has increased significantly in the past years,
the effective use of risk management is still far from the ideal. That happens for
several reasons shown later in this paper. Supply chain risk management (SCRM)
involves risk identification, risk assessment, risk mitigation, and risk control. This
paper explains each of these steps and why they are so important in the decision-
making scenario.
Mauricio Blos, Mohammed Quaddus, Hui m Wee, and Kenji Watanabe (2009) [33]
identified the supply chain risks in the automotive and electronic industries in Brazil
and highlighted the urgency of supply chain risk management (SCRM)
implementation. There are significant practices to implement SCRM: better supply
chain communication, SCRM and business continuity planning training program,
and the creation of a chief risk officer position to manage the supply chain risks.
Many companies did not know SCRM and thus misinterpreted the information
20

about SCRM. This study promotes more preparedness for the two industries to
manage the risks of the supply chain. This study shows the risks that surround the
supply chain in the automotive and electronic industries in Brazil and how these
industries can successfully implement SCRM.
Christopher Tang (2005) [34] for companies to gain cost advantage and market
share, many firms implemented various initiatives such as outsourced
manufacturing and product variety. These initiatives are effective in a stable
environment, but they could make a supply chain more vulnerable to various types
of disruptions caused by uncertain economic cycles, consumer demands, and natural
and man-made disasters. The intent of this paper is three-fold. First, a unified
framework for classifying SCRM was developed. Second, this review can serve as a
practical guide for some researchers to navigate through the sea of research articles
in this important area. Third, by highlighting the gap between theory and practice,
thus motivating researchers to develop new models for mitigating supply chain
disruptions.
Omera Khan and Bernard Burnes (2007) [35] aimed to develop a research agenda
for risk and supply chain management. The review of the general literature on risk
and the specific literature on supply chain risk was undertaken. The paper shows
that there are several key debates in the general literature on risk, especially in terms
of qualitative versus quantitative approaches, which need to be recognized by those
seeking to apply risk theory and risk management approaches to supply chains.
Also, the paper shows that the application of risk theory to supply chain
management is still in its early stages and that the models of supply chain risk which
have been proposed need to be tested empirically. Practical implications – The
paper proposes a research agenda aimed at developing models of supply chain risk
21

management based on combining the wider theory and practice of risk management
with the needs and practices of supply chain management.
Uta Jüttner (2005) [36] sought to understand business requirements for supply chain
risk management (SCRM) from a practitioner perspective. Based on the findings
from an exploratory quantitative survey and qualitative focus group discussions with
supply chain managers, some issues of SCRM are derived and structured along the
three conceptual levels of “philosophy”, “principles” and “processes”. The survey
showed that 44 percent of all eight responding companies expect the vulnerability of
their supply chains to increase in the next five years and yet they still have not
adopted SCRM to minimize the risks.
Fengge Yao and Zenan Qin (2020) [37] proposes research on supply chain finance
risk management based on blockchain technology as the current supply chain
finance risk management has problems such as asymmetric operation information
and difficult risk control, for this reason, this paper Combining the technical
characteristics of blockchain and the business model of supply chain finance, the
causes of its operational risk, trade authenticity risk, payback risk and contingency
risk, and use the physical sensors to react and track data in real-time to improve the
efficiency of supply chain risk control; replace the signing of legal documents in
various disciplines with electronic signatures to solve the problem of trade
authenticity risk; program the transaction contract and contract-related clauses to
provide trust for both sides of the transaction and improve transaction efficiency.
Er Kara, M., Oktay Fırat, S. and Ghadge, A. (2020) [38] researched increased risk
exposure levels, technological developments, and the growing information overload
in supply chain networks drive organizations to embrace data-driven approaches in
Supply Chain Risk Management (SCRM). Data Mining (DM) employs multiple
analytical techniques for intelligent and timely decision making; however, its
22

potential is not entirely explored for SCRM. The paper aims to develop a DM-based
framework for the identification, assessment, and mitigation of different types of
risks in supply chains. A holistic approach integrates DM and risk management
activities in a unique framework for effective risk management. The framework is
validated with a case study based on a series of semi-structured interviews,
discussions, and a focus group study. The study showcases how DM supports in
discovering hidden and useful information from unstructured risk data for making
intelligent risk management decisions.
2.2. Research Gap:
 Most Supply Chain Risk Management processes were made without real-time
experience or guidance from the practitioner's perspective.
 Most papers were based on literature review only a few conducted interviews with
different companies.
 Few researchers worked on domestic Supply Chain Risk Management.
 Few researchers used a Computer-based calculation system with a Supply Chain

Risk Management system to get a better output.
2.3. Objectives:
 To minimizing uncertain threats to the supply chain in Bangladesh by using

SCRM.
 To identify, evaluate, mitigate and control Supply chain risk.
 To make an ideal model of SCRM so the supply chain is risk-free.
 To maximize efficiency and profit of an industry through SCRM.
23

2.4. Significance of the work
Supply Chains play a vital role in the business as the only way a company can get
recognized or make itself better is by customer satisfaction or review. Thus the
ultimate goal is to make sure the product is safely handed over to the ultimate
customer. But during this Supply chain or process through which a product is made
and handed over to the customer a lot of problems might occur which might disrupt
the supply chain. These disruptions are the Risks of a supply chain and these risks
can cause a huge loss of an industry or company. Due to this, to remove or minimize
these risks there are different management systems these are the supply chain
management system (SCRM) and nowadays companies are gradually implementing
the SCRM thus lowering losses of different kinds. Besides this, after COVID-19
Bangladesh companies are also starting to understand the importance of SCRM in
practical cases.
24
Chapter 3
Methodology
25

3.1. Determination of Risk :
Due to the covid19 pandemic, it is really difficult for us to undergo any efforts to
collect primary data from any renowned organization for our study. We will have to
mainly depend on the secondary data or relevant imaginary data under logical
conditions.
Generally, consumers want the right quantity and right quality of the product at the
right time this is also known as the demand chain. Thus the supply chain has to be
such that it can be fulfilled. But this is not possible for both domestic and global
supply chain management for some factor which is responsible for disruption in the
supply chain. No supply chain is risk-free every domestic or global has a possibility
of a risk to occur. The probability of a risk to occur causes the delay to delivery or
loss of product.
Risk contains different types of losses and risk of any particular type of loss is a
combination of the probability of that loss and the significance of that loss to the
individual or organization [42]
Let,
Pn(loss) =The probability of the loss for an event n
In(loss) =The significance of that loss to the individual or organization for an event n
So, Risk for an event n, Riskn = Pn(loss)* In(loss) ………………………………(1)
3.2. Supply Chain Risk Management Process :
Supply chain risk management (SCRM) is the process of taking strategic steps to
identify, assess and mitigate the risk in your end-to-end supply chain. Ericsson
26

revised their SCRM which now consists of a feedback-loop of risk identification, risk
assessment, risk treatment, and risk monitoring. Besides, their new approach also
includes incident handling and contingency planning in parallel to the basic loop
[43]. Neiger et al. categorize SCRM into the process of risk identification, risk
assessment, risk analysis, and risk treatment [44]. Mainly, SCRM attempts to reduce
supply chain vulnerability via collectively identifying, analyzing, and mitigating
vulnerability.
Flow Chart of the SCRM process is given below :
27

Figure 3.1: SCRM process.
3.2.1. Risk Identification :
To maintain a stable domestic supply chain, companies have to follow a path to

identify risk and then use strategies to deal with the risk. It is similar to how doctors
treat patients, first they diagnose the patient then after determining the illness they
begin treatment.
Different researchers uses takes different types of risk to point according to what
they think are the most important risk in a supply chain. But in a practical view, until
a risk occurs in a company, the company will always ignore the risk possibilities. But
as an old saying goes “ Prevention is better than cure.”, thus companies should
consider different types of risk before those risks even occur.
The Risk that we have taken into consideration for Bangladesh Companies are given
below :
1. Supply Risk ( PsrIsr )
2. Operational Risk ( PoprIopr )
3. Demand Risk ( PdrIdr )
4. Security Risk ( PscrIscr )
5. Health Risk ( PhrIhr )
6. Logistics Risk ( PlrIlr )
7. Geophysical Risk ( PgrIgr )
8. Other Risk ( PorIor )
28
So, Total Risk of a supply chain,
IT =PsrIsr + PoprIopr + PdrIdr + PscrIscr + PhrIhr + PlrIlr + PgrIgr + PorIor ………………(2)
Here we considered all risks are independent of Geophysical Risk.
If the company tried to conduct its supply chain under a natural calamity, then all
risks will depend on Geophysical Risk.
Thus the total risk,
IT = ( PsrIsr + PoprIopr + PdrIdr + PscrIscr + PhrIhr + PlrIlr + PorIor ) x ( PgrIgr ) ………(2)
Figure 3.2: Risk in Supply Chain.
Supply Risk is the probability of an event to occur which is associated with an

inbound supply that may cause failures from suppliers or the supply market, such that
it results in the inability of the focal firm to meet customer demand within anticipated
costs and cause customer dissatisfaction. Supply risk resides in the course of
movement of materials from supplier’s suppliers to the focal firm, and includes
reliability of supplier, make or buy decisions, and security issues etc [45].
29

Operational Risk is the possibility of an event associated with the focal firm that may
affect the firm’s internal ability to produce goods and services, quality, timeliness of
production, and profitability of the company. Sources of operational risk reside
within the firm and may result from a breakdown in core operations, inadequate
manufacturing, high levels of process variations, changes in technology that may
render the current facilities obsolete, and changes in operation exposures etc [46].
Demand Risk is the possibility of an event associated with outbound flows that may
affect the likelihood of customers placing orders with the focal firm, and variance in
the volume and assortment desired by the customer. Sources of demand risk reside in
the movement of goods from the focal firm to the customer’s customer. Sources of
demand risk are delayed production, variation in demand and system error etc [47].
Security Risk is the threat from an unknown third party who may or may not be a
member of the supply chain and whose motivation is to steal proprietary data or
product or material, destroy, disable a firm’s operations. The sources of security risk
include theft, hijack, system hackers, weak security, weak firewall, etc [48].
Health Risk is the possibility of an event associated with the likelihood any person
(worker, employee, supplier, customer, etc) related to the supply chain is exposed to
illness or get ill, these illnesses might cause hamper the progress of the companies
supply chain. After the massive outbreak of the Corona Virus different sector of the
world because immobile due to a huge risk of getting inflicted by the virus, thus
companies now have to follow different safety procedure to stop the spread of the
virus and also securing the good health of every person of the supply chain. The
sources of health risk include ill worker working, not using disinfection in working
area, not using disinfection while after coming inside from outside areas, etc.
Logistic risks refer to the risks that are exposed to the logistics operation that hinders
a smooth performance for the overall supply chain. Logistic risks can be considered
in any form from every supply chain perspective. The sources of logistic risks are
damages of product, injuries, liabilities, loss, or any other negative occurrence that is
30

caused by external or internal causes after trying to send the product or service to the
customer.
Geophysical Risk is the possibility of an event associated with natural calamities

such as earthquakes, volcanoes, landslides, tycoons, floods and tsunami etc. This risk
affects all the other risks mentioned above as when these types of calamities occur
they affect the whole supply chain.
Other Risk is the possibility of events that do not categorize within the:v above
seven types of risks. These are the minor risks that do not do a great impact on the
supply chain.
These are the main categories in which supply chain risks are to be identified as to
continue with the SCRM process.
3.2.2. Risk assessment :
After identification of the risk, the risk is to be assessed. The risk that occurs is like
raw data and this data needs to be processed so that it can be used practically thus a
lot of analysis is done to turn the possibility of risk into a piece of information when
it might occur or how to get the company back up after the disruption occurs. The
risk assessment for the domestic supply chain can be divided into the process below :
1. Collection of Data
2. Analysis of Data
3. Decision Making
Collection of Data is simply gathering information based on questions (such as how

the risk occurred, where the risk occurred, when the risk occurred and the number of
31

times the risk had occurred. etc) based on the risk that occurred. This data is then
used for Analysis.
Analysis of data is done through the data found in the collection of data, it is used to
keep track of what happened, how much was its impact, when it might occur in the
future, where it might occur, also it creates a way to stop this disruption from
occurring and helps to lessen the loss if it occurs in the future.
For example of data analysis of a company is given, the 2017 crisis management
statistic of GENERAL MOTORS COMPANY [49][50],
Figure 3.3: Disruption VS Number of times the disruption occurred.[50]
Decision Making is the last of the processes of risk assessment. Creating a set of
rules within the company to make sure the risk does not occur over and over again.
This is done through a detailed study of the Analyzed Data. For example, in figure
3.3 we see that factory fire or explosion has occurred the most in 2017 thus the
company is to propose a set of rules and regulations to keep Factory fire/explosion
from ever happening again or make it occur less than the number of times it had
occurred in 2017.
32

3.2.3. Risk Management :
Risk management strategies for risk mitigation can be classified primarily into seven
categories [36]:
1. Avoidance
2. Postponement
3. Speculation
4. Hedging
5. Control
6. Sharing/transferring
7. Security
Avoidance is the strategy used when the possibility of a risk to occur is very high and
supply-demand or operating trade-offs will cause more loss than profit thus those
things are avoided make less loss in the long run.
Postponement is the strategy to delaying the actual commitment of resources to

maintain flexibility and delay the incurring of costs [51].
Speculation Strategy is somewhat the opposite of postponement. In Speculation,

decisions are made based on anticipated customer demand. It is such that customer
satisfaction is a top priority thus when demands are made from the customer only
those demands are fulfilled extra production or services are not committed to.
Hedging strategy refers to an investment whose aim is to reduce the level of future
risk. Hedging against investment risk means strategically using financial instruments
or market strategies to offset the risk of any adverse price movement. Meaning,
investors hedge one investment by making a trade-in another.
33

Control strategy refers to the process of using vertical integration, partial or tapered
integration to increase control by reducing the risk of supply or demand failures in
the supply chain.
Sharing/transferring, Risk transfer strategy means assigning the responsibility for

dealing with a risk event and its impact to a third party. Risk transfer strategy applies
only to threats. Risk-sharing involves cooperating with another party to increase the
probability of risk event occurrence.
Security is the strategy to use the help of law enforcement to take care of criminal
activities, also using antivirus services to help data keep safe from hackers.
3.2.4. Risk Mitigation :
Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a
business. It is nothing but the implementation of the Risk assessment in practical
cases. After proposing a set of rules and regulations to lower risk possibility, then it
uses in practical cases or real-time cases. Thus the possibility of a risk occurring
should be less than before. If the possibility of the risk does not decrease decision
making has to be made again so that a new set of rules and regulations may be
introduced. And doing this over and over will eventually mitigate the possibility of a
risk occurring.
34
Chapter 4
Schematic Modelling
35

4.1. Domestic Supply Chain Management Framework :
Based on the literature review, a model for risk management and mitigation process
for the domestic supply chain is proposed. This mode is given below :
Figure 4.1: Domestic Supply chain Risk Management Framework.
36

The steps of this Supply chain risk management framework are :
1. Risk Identification
2. Collection of Data
3. Analysis of Data
4. Decision Making
5. Applying Risk Management Strategies in Current Supply Chain
6. Implementation of Supply Chain Risk Management Strategies
7. Mitigation of Supply Chain Risks
8. Checking Health Safety
4.1.1. Risk Identification :
The risk that occurred is firstly categorized within the 8 categories, Supply Risk,
Operational Risk, Demand Risk, Security Risk, Health Risk, Logistics Risk,
Geophysical Risk, Other Risk.
Table 4.1: Categorizing risk
Description Date and Risk Categories Number of time risk Risk

of Location occurred No.
Disruption (frequency)/Yearly
(x,y)
Supply Risk (Y/N)

Operational Risk (Y/N)
Demand Risk (Y/N)
Security Risk (Y/N)
Health Risk (Y/N)
Logistics Risk (Y/N)
Geophysical Risk (Y/N)
Other Risk (Y/N)
37

Each disruption that has occurred in the supply chain is to be noted in table 4.1 and
then selected the closed category it belongs to. The date and location of the risk are
also noted. Including the number of times the categorized risk occurred.
4.1.2. Collection of Data :
Data of different things are collected, which are necessary for an accurate analysis of
the risk. The table for collecting data of the risk in the supply chain is given below ;
Table 4.2: Listing Data related to Risk.
Risk List of Description Amount Frequency, Probability, Time to Other

No. occurred of of loss p* Recover Important
n
Risk Disruption per day, I Notes
Supply Risk
Operational
Risk
Demand
Risk
Security
Risk
Health Risk
Logistics
Risk
Geophysical
Risk
Other Risk
*0<p<1 ( 0 means no risk at all and 1 means a definite risk
38

4.1.3. Analysis of Data :
Taking the data from table 4.2 we fill the table 4.3 and create a few graphs that will
help understand the current situation better.
Table 4.3: Calculation of data and Risk Level.
Risk Impact Worst Is the worst Other Consideration Final

No. Loss Possible possible factors esp. evaluation of
per day outcome outcome Competitors exposure risk *
acceptable? to similar risks
IT= PxI (Risk level)
(Y/N)
Graph of Risk Categories VS Frequency given below :
Graph of Probability vs Among of loss give below :
The location where the disruption occurred is given below :
* Final evaluation of risk: Insignificant, Minor, Serious, and Catastrophic.
4.1.4. Decision Making :
There is risk which do a great impact on the supply chain and there are some that do
not do much. After analyzing data of different risks we shall understand a great deal
which risk will pose a great impact and which will not, the ones that are serious need
to deal with very fast. Two main decisions are to be made if a risk occurs, first one is
how to minimize loss of the current supply chain and the second is to make this sure
type of loss does not occur again or the chance of it is minimized.
39

Based on supply and demand uncertainties, lee suggests four types of supply chain:
efficient, responsive, risk-hedging, and agile [52].
Table 4.4: Supply chain types and risk management strategies [52].
Demand Uncertainty
Low High
Low Efficient supply chain Responsive Supply Chain
Focus on Cost-efficiency Focus on Responsiveness and

Flexibility
Postponement
Postponement
Single Sourcing
Risk Hedging Supply Agile Supply Chain

Supply Uncertainty High
Chain
Focus on Responsiveness and
Focus on Pooling and Hedging Risks
Sharing risks
Hedging
Multiple Sourcing
Transferring/Sharing
Risk
Hedging
40

After selection of the type of supply chain, an appropriate Risk management Strategy
is suggested.
Table 4.5: Selection of Risk Management Strategies.
Risk No. Type of Risk Level Industry Risk Selected Risk Decision of
Supply Chain Management Management similar risks
Practices / Strategies Mitigation
Previous Strategies
Solutions
4.1.5. Applying Risk Management Strategies in Current Supply Chain :
After selection of method for each risk, it is applied in the current supply chains that
are ongoing so that a little amount of loss can be recovered. This step is mainly for
risk which is Serious and Catastrophic as an immediate action is needed so heavy
loss is not done. If no improvement is achieved after taking action the decision-
making step 4 is to take place again.
4.1.6. Implementation of Supply Chain Risk Management Strategies :
Implementation of strategies for risk management requires discipline, commitment,

superior execution skills etc [53]. All persons who directly responsible or related to
the supply chain must follow the new rules and regulations strictly. After selection of
the strategies, these rules and regulations are to be explained to the concerned
persons and checked by the company. Considering all employees, workers, and
41

persons upon whom the set of rules are given will obey the new set of rules without
hesitation. Then improvement is to be checked if improvement is not made decision
making step 4 is to take place again.
4.1.7. Mitigation of Supply Chain Risk :
After using risk management strategies most high possible risks might be lowered
but not all risks can be removed. These have to be kept in might that some risks are
to be taken while doing business. Thus, sometimes companies have to think ahead
that what kind of risk might occur and how can the company lower the risk. While
Risk Management strategies are used to determine, lower the probability of a risk,
Risk Mitigation planning provides the company with a more mature and early
decision-making process in facing potential risk. If the selected decision for
mitigation of the risk does not show any improvement decision making step 4 has to
take place again.
4.1.8. Checking Health Safety :
In this time where the world is in a global health crisis, every company has to ensure
the Health safety of all the persons that are directly or indirectly responsible for a
risk-free supply chain. As time goes COVID-19 patients are increasing and the death
rate is also increasing. Thus every company must keep a good health regulation
system to keep everyone safe from COVID-19. If any decision of Risk Management
or Risk Mitigation make people vulnerable to health risk such as COVID-19, the
decision making step 4 is to be taken place again. Cause if the peoples responsible
fall sick the whole supply chain will be ruined.
42
Chapter 5
Conclusion and Recommendation
43

5.1. Conclusion
5.2. Recommendation
Due to the covid19 pandemic, it is really difficult for us to undergo any efforts to
collect primary data from any renowned organization for our study. Moreover,
organizations consider their supply chain & supply chain risk management data
confidential and prohibit any use of their data in any sort of fundamental or technical
analysis carried out by any third party organization or personnel. We formulated a
model that can be used in identifying, assessing ,mitigating supply chain risk in a
domestic supply chain or at greater level.our research can be used in further studies
and implementation of SCRM and apply the gains in our countries existing
strategies adapted by various organizations in our country.
If any organization undergoes a project to improve their existing SCRM strategies or

to build a new one this study can help them to do so by using the model we provided
by using real time data.
44
Chapter 6
References
45

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Heaven’s Light Is Our Guide

Rajshahi University of Engineering and Technology

Department of Industrial & Production Engineering

Supply Chain Risk Management in Bangladesh

Supervised By: Submitted By:

Rajshahi University of Engineering & Technology

Department of Industrial & Production Engineering

Rajshahi University of Engineering and Technology

Supervised by Signature of the student

Rajshahi University of Engineering and Technology

RUET, Rajshahi Author

Rajshahi University of Engineering and Technology

With the advancement of information technology & Transportation Supply

Rajshahi University of Engineering and Technology

List of Contents Page No

1.5. Impact of Covid19 7

Rajshahi University of Engineering and Technology

List of Contents Page No

Rajshahi University of Engineering and Technology

No. of Title Page No

Rajshahi University of Engineering and Technology

No. of Title Page No

Rajshahi University of Engineering and Technology

Rajshahi University of Engineering and Technology

Supply chain risk management (SCRM) is "the implementation of strategies to

Figure 1.1: Supply Chain System.

Rajshahi University of Engineering and Technology

Figure 1.2: Transportation Accidents.

Rajshahi University of Engineering and Technology

1.2. Supply Chain Risk :

Rajshahi University of Engineering and Technology

Bangladesh is a South Asian developing country. With a manpower of 166 million,

A lot of international investors are getting interested in investing in this country's

In this thesis, we are focusing on proper introduction and implementation.

Rajshahi University of Engineering and Technology

1.4. Problem Statement:

Supply Chain Risk Management is used in almost every established

Rajshahi University of Engineering and Technology

Rajshahi University of Engineering and Technology

TABLE 1.1: Hampered organizations due to COVID-19.

Emergency services Catering sector

Public health Retail sector

Food retail Traveling sector

Textile, clothing Tourism

Civil aviation Automotive sector

Education sector Media culture

Figure 1.3: Recent Data summary of covid19 (WHO).[4]

Rajshahi University of Engineering and Technology

The COVID-19 induced turmoil, however, could substantially undermine the

Rajshahi University of Engineering and Technology

Figure 1.4:Lockdown status of the districts in Bangladesh [14]

Rajshahi University of Engineering and Technology

Developed and Implemented SCRM Reliant on a single geography/single

Multi-sourced their key commodities to Don’t have the upgraded system to

Have an upgraded system to provide Less investment in supply chain

Invested in supply chain planning &

Require less time of recovery