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The global supply chain is an essential business function in all industries. Internal risk assessment is a readily accepted part of daily business operations, but comprehensive assessment of environmental risks --- that is, market and non-market forces at play in the external business environment - has remained an underdeveloped aspect of corporate strategy. We offer an integrated, strategic perspective of supply chain management: (1) identification of various external risks generated by market as well as non-market forces, (2) identification of risks to which the industry is particularly vulnerable, (3) demonstration of the potential adverse financial impact for the supply chain, and (4) recommendations for managerial decision making to counter negative impacts. We use the Chemicals Industry as our example.
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Wyk et al. (2005) studied this question.
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