Proactive risk mitigation strategies and supply chain risk management performance of manufacturing firms in Ghana: the moderating role of risk management culture
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Date
2023
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KNUST
Abstract
Proactive risk mitigation strategies continue to generate attention in our modern-day manufacturing industry due to their strengths in helping manufacturing firms to become proactive and resilient to mitigating risks. Risks have become inevitable in manufacturing operating; hence, proactive risk mitigation strategies are needed to identify risks and adopt relevant strategies to address them. This study investigates the effects of proactive risk mitigation strategies comprising supply chain agility, supply chain visibility and knowledge sharing on supply chain risk management (SCRM) performance as well as the moderating role of of risk management culture. It also examines the correlation between SCRM performance on operational performance. The theory of constraints, which served as the foundation for this quantitative study, enabled for the collection of primary data from 257 randomly selected owner-managers of industrial companies located in the metropolises of Accra, Kumasi, and Tema. Using the structured questionnaires, a valid data set of 229 was obtained, processed with the IBM SPSS Statistics and SmartPLS software and analysed via the PL-SEM. The result revealed that all the three proactive risk mitigation strategies affect the SCRM performance of the manufacturing firms. The study also found SCRM performance to improve the firms‟ operational performance. It was finally found that risk management culture moderates the correlation between only knowledge sharing strategy and SCRM performance. It was concluded that manufacturing firms that adopt the proactive risk mitigation strategies can attain high SCRM performance. It is suggested that management of the manufacturing firms need to focus on and invest in the proactive risk mitigation strategies in order strengthen their SCRM performance levels within the scope of Ghana.
Description
A Thesis Submitted to the Department of Supply Chain and Information Systems of the Kwame Nkrumah University of Science and Technology School of Business, in partial fulfilment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION (LOGISTICS AND SUPPLY CHAIN MANAGEMENT OPTION