Sample Introduction of a Research Proposal on Risk Management
According to Giannakis et al. (2004) risk management is becoming a vital contributor to most fields of management decision and control. Brindley (2004) suggested that the global competition, technological change and development and the incessant search and maintenance for competitive advantage are the fundamental reason behind the movement of organizations towards risk management approaches. In addition, it is also important to add the current development and changes in both global and local environment, particularly those related with the climate change or global warming which is causing natural calamities and catastrophies which directly and indirectly affect or influence the operation of many companies and organizations in different industries and sectors. Correspondingly, the study of Christopher and Lee (2004) show that the increasing risks in the supply chain framework and the demand for the new answer to manage those risks (cited from Ritchie and Brindley, 2007).
Supply chain management is defined as the systematic and strategic connection between the traditional business purposes and the procedures that are applied to implement in the different aspects and units of the business inside the company in a supply chain to improve and develop a long-term performance of each and every company and its supply chain in general (Scheer, 2003). With this, it is considered as one of the most vital sources of competitive advantage because it can help in order for an organization to excel in reducing the cost of the production, at the same time, enable companies and organizations to focus on important back-end procedures such as purchasing, manufacturing and physical distribution (Cohen and Roussel, 2005).
According to Embelton and Wright (1998) in the current and contemporary world, organizations and companies are looking for new and updated business practices and strategies that will help them to obtain success. One of which is taking advantage of globalization via outsourcing, which is believe to offer competitiveness for organizations. Razzaque and Sheng (1998) defined it as the process of transferring internal service function and procedure towards an external organizations or providers which otherwise would be difficult to achieve or will be costly if implemented in-house. In the past years, the issue of outsourcing logistics or known as the third-party logistics (3PL) has gained interests from many researchers and authors in the field of supply chain management. Many of researches mainly focus on analyzing the advantages and disadvantages that 3PL can offer towards an organization.
This paper will discuss the different issues related to the different risks and threats that the modern or contemporary supply chain is facing today. It will also discuss the different advantages and opportunities that 3PL had offered towards organizations and companies in the recent times. Furthermore, it will also aim on investigating the different risks and threats which 3PL can offer towards the management, operation and overall performance of an organization. It will also focus on presenting strategies and actions to be done in order to prevent or lessen the impact of those risks. Different cases will be presented in order to tackle the issue.
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