Risk matrix driven supply chain risk management: Adapting risk matrix based tools to modelling interdependent risks and risk appetite

There is a major research gap of developing a supply chain risk management process integrating the risk appetite of a decision maker and all stages of the risk management process within an interdependent network of systemic risks. We introduce an iterative process, namely risk matrix driven supply chain risk management, to bridge this gap. We make use of the recently introduced concept of utility indifference curves based risk matrix to capture...