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Supply Chain Risk And Analysis Coal Industry

2271 words - 9 pages

Supply Chain Risk Analysis and Assessment in the Coal Industry 02 December 2011
PrefaceAs of date the Supply Chain in any industry has become really complex, dynamic and dispersed therefore maximizing the risks and vulnerabilities associated within. This has also created a scenario where there are maximized exposures to both internal and external risks. At a time when Countries are fast developing, the public and private sectors go unattended and unmonitored in terms of risks. This paper will identify the affected elements of the Indian Coal Industry, ascertain the risks in the supply chain, develop mechanisms to recognize these risks by the management and finally discuss means by which this risk can be protected/prevented and offer means to mitigate each one of these risks.This paper is approached in the following method :Step 1 : Identifying at least 3 elements in the Indian Coal Industry's supply chainStep 2 : Ascertain at least 5 major relevant risks in this industryStep 3 : Develop Mechanisms to recognize the riskStep 4 : Means to mitigate each of these risks or to protect themIntroductionThe Indian Coal Industry like any other fast growing industry in India is faced with risks and vulnerabilities on a day to day basis. Right from the procurement of the coal from inside the country or from outside, to transportation to processing to electricity generation to delivering the electricity to consumers and industries there are risks. Apart from this there arise indirect risks as a form of side effects. To look at this in detail, let us first consider the entire process.The coal is usually mined inside the country, but a vast amount of the coal comes from other countries such as Indonesia and other African countries. Once the coal is mined in the respective country, according to the requirement they are shipped in dry bulk vessels over the sea. When the coal reaches India, it is stored in warehouses or transported directly to factories that generate electricity. Once the electricity is generated it is fed into the grid and is supplied to consumers and industries.What is RiskRisk is defined as a "Hazard - the chance of bad consequence or loss". For our research we will consider any bad consequence or loss in some form to be a Risk. ThereforeRisk = the probability that an event will occur x the consequences if it does occurRisk arises in every field of human endeavour, in social interaction and relationships, in sport, and travel . Every decision made has a range of possible outcomes, these outcomes are not always certain. The risks in any industry can be of 3 types and in our case all three of them occurInternal to the firm - Risks during processing of the coalExternal to the firm but internal to supply chain - Risks due to demand and supplyExternal to the network - The environmental side effects3. Risk PredictionWith various tools available for risk prediction, such as the FMEA(Failure Mode Effect Analysis) and the Data Mining, it is possible to...

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