Risk priority and risk mitigation approach based on house of risk: A case study with aquaculture supply chain in Vietnam

Aquaculture industry is known as one of the sectors which contribute importantly to the development of Vietnam economy. However, with the rapid development, many new enterprises and farming households joint in this industry leads to many difficulties on managing the performance of supply chain opera...

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Bibliographic Details
Main Authors: Thuy, Nguyen Thi Le, Chau, Vo Tran Thi Bich, Phong, Huynh Tan, Tham, Tran Thi
Format: Conference Proceeding
Language:English
Subjects:
Aquaculture
Economic development
Fisheries
Households
Risk management
Supply chains
Online Access:Get full text
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Summary:Aquaculture industry is known as one of the sectors which contribute importantly to the development of Vietnam economy. However, with the rapid development, many new enterprises and farming households joint in this industry leads to many difficulties on managing the performance of supply chain operations as a whole. Especially, although fisheries households play an important role in this supply chain, they are usually vulnerable from price fluctuation and legal safety. In this paper, a framework for supply chain risk management (SCRM) in aquaculture is proposed. Initially, the risk priority is quantified by Supply Chain Operations Reference (SCOR) model in a House of Risk 1 (HOR-1). Furthermore, some mitigation actions are deployed, then being analyzed by using HOR-2. The model has been processed by surveying with fisheries farmers in Can Tho, Mekong Delta, Viet Nam. According to the results, 14 risk events and 19 risk agents are identified. Also, there are 10 most critical risk agents which is derived from the highest Aggregate Risk Potential (ARP) and 22 proposed prevention actions are prioritized.
ISSN:0094-243X
1551-7616
DOI:10.1063/5.0113972