Enhancing Supply Chain Resilience: An Empirical Analysis of Industrial Management Practices and Risk Mitigation Strategies

Abstract

The global supply chain faces complexity and vulnerability due to geopolitical stress, epidemic and market instability. The study explores the role of industrial management practices and explicit risk mitigation approaches towards supply chain resilience in sourcing, manufacturing, and demand-side risks. With global supply chains increasingly vulnerable to disruptions, it has become imperative to build resilience through strategic interventions. Using Structural Equation Modelling (SEM), the research analyses risk mitigation approaches such as hedging, postponement, risk- sharing, control mechanisms, and strategic sourcing as moderator variables between supply chain risks and resilience. It emerges from the findings that supply chain resilience is not just a default reaction to external pressures but is highly enhanced when the parties involved engage in a proactive approach to risk management. Industrial management practices of inventory control and supplier relationship management coupled with the application of advanced technologies such as AI, IoT, and block chain mediate resilience in firms and improve resilience in organizational quick response and agility. The results reveal that actually implementing targeted risk mitigation mechanisms reduces the intensity of disruptions and firms' capability to adapt to, recover from, and continue with operations. The study remains insightful for practitioners to embed resilience into their firms, while it also sheds light on strategic levers which are adaptable to various risk scenarios. Findings provide a basis for drawing up customized, evidence-based resilience strategies for different industrial settings