Big data and supply chain crisis financial risk management: A bibliometric review

Ioannis Dimitrios G. Kamperos; Nikolaos T. Giannakopoulos; Nikos Kanellos; Damianos P. Sakas

doi:10.24294/jipd.v8i9.6592

Home - JIPD - Volume 8 - Issue 9

Submit to JIPD

Journal Browser

Volume | Year

Issue

• Current lssue

View All

News and Announcements

View All

Big data and supply chain crisis financial risk management: A bibliometric review

Ioannis Dimitrios G. Kamperos

Nikolaos T. Giannakopoulos

Nikos Kanellos

Damianos P. Sakas

Journal of Infrastructure Policy and Development 2024, 8(9), 6592; https://doi.org/10.24294/jipd.v8i9.6592

Submitted：23 May 2024

Accepted：20 Jun 2024

Published：03 Sept 2024

Download PDF(2.59M)

Cite

XML

Abstract

The presence of a crisis has consistently been an inherent aspect of the Supply Chain, mostly as a result of the substantial number of stakeholders involved and the intricate dynamics of their relationships. The objective of this study is to assess the potential of Big Data as a tool for planning risk management in Supply Chain crises. Specifically, it focuses on using computational analysis and modeling to quantitatively analyze financial risks. The “Web of Science—Elsevier” database was employed to fulfill the aims of this work by identifying relevant papers for the investigation. The data were inputted into VOS viewer, a software application used to construct and visualize bibliometric networks for subsequent research. Data processing indicates a significant rise in the quantity of publications and citations related to the topic over the past five years. Moreover, the study encompasses a wide variety of crisis types, with the COVID-19 pandemic being the most significant. Nevertheless, the cooperation among institutions is evidently limited. This has limited the theoretical progress of the field and may have contributed to the ambiguity in understanding the research issue.

Keywords

References

Armani, A. M., Hurt, D. E., Hwang, D., et al. (2020). Low-tech solutions for the COVID-19 supply chain crisis. Nature Reviews Materials, 5(6), 403–406. https://doi.org/10.1038/s41578-020-0205-1

Baldini, G., Oliveri, F., Braun, M., et al. (2012). Securing disaster supply chains with cryptography enhanced RFID. Disaster Prevention and Management: An International Journal, 21(1), 51–70. https://doi.org/10.1108/09653561211202700

Blackhurst, J., Wu, T., & O’Grady, P. (2004). Network-based approach to modelling uncertainty in a supply chain. International Journal of Production Research, 42(8), 1639–1658. https://doi.org/10.1080/0020754030360001646064

Block, J. H., & Fisch, C. (2020). Eight tips and questions for your bibliographic study in business and management research. Management Review Quarterly, 70(3), 307–312. https://doi.org/10.1007/s11301-020-00188-4

Braithwaite, A., & Hall, D. (1999). Risky Business? Critical Decisions in Supply Chain Management: Part 1. Supply Chain Practice, 1(2), 40–55.

Childerhouse, P., & Towill, D. R. (2004). Reducing uncertainty in European supply chains. Journal of Manufacturing Technology Management, 15(7), 585–598. https://doi.org/10.1108/17410380410555835

Dembereldorj, Z., Dangaasuren, G., & Jagdag, D. (2018). Relationships between University Performances and Economic Growth. International Journal of Higher Education, 7(4), 123. https://doi.org/10.5430/ijhe.v7n4p123

Desoutter, M., & Lavissière, A. (2018). Handling Supply Chain Crises when everything has been done to avoid them. Supply Chain Forum: An International Journal, 19(3), 219–232. https://doi.org/10.1080/16258312.2018.1484250

Donthu, N., Kumar, S., Mukherjee, D., et al. (2021). How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/10.1016/j.jbusres.2021.04.070

Durugbo, C. M., & Al-Balushi, Z. (2022). Supply chain management in times of crisis: a systematic review. Management Review Quarterly, 73(3), 1179–1235. https://doi.org/10.1007/s11301-022-00272-x

Emmanouil, D., & Nikolaos, D. (2015). Big data analytics in prevention, preparedness, response and recovery in crisis and disaster management. In: Proceedings of the 18th International Conference on Circuits, Systems, Communications and Computers (CSCC 2015). pp. 476–482.

Engardio, P. (2001). Why the Supply Chain Broke Down. Business Week, 3724, 41–41.

Fertier, A., Montarnal, A., Barthe-Delanoë, A. M., et al. (2016). Adoption of big data in crisis management toward a better support in decision-making. In: Proceedings of Conference on Information System for Crisis Response and Management (ISCRAM 16).

Goh, M., Lim, J. Y. S., & Meng, F. (2007). A stochastic model for risk management in global supply chain networks. European Journal of Operational Research, 182(1), 164–173. https://doi.org/10.1016/j.ejor.2006.08.028

Heckmann, I., Comes, T., & Nickel, S. (2015). A critical review on supply chain risk—Definition, measure and modeling. Omega, 52, 119–132. https://doi.org/10.1016/j.omega.2014.10.004

Hermann, C. F. (1963). Some Consequences of Crisis Which Limit the Viability of Organizations. Administrative Science Quarterly, 8(1), 61. https://doi.org/10.2307/2390887

Hittle, B., & Moustafa Leonard, K. (2011). Decision making in advance of a supply chain crisis. Management Decision, 49(7), 1182–1193. https://doi.org/10.1108/00251741111151208

Honkanen, U. (2013). How Companies Are Securing Their Supply Chain during Crisis Situations. Available online: https://urn.fi/URN:NBN:fi:amk-201301301870 (accessed on 13 December 2023).

International Monetary Funt. (2024). World Economic Outlook 2023—GDP, Current Prices. Available online: https://www.imf.org/external/datamapper/NGDPD@WEO (accessed on 7 February 2024).

ISO. (2012). “ISO/PAS 22399:2007.” ISO. Available online: https://www.iso.org/standard/50295.html (accessed on 13 December 2023).

Ivanov, D. (2020). Viable supply chain model: integrating agility, resilience and sustainability perspectives—lessons from and thinking beyond the COVID-19 pandemic. Annals of Operations Research, 319(1), 1411–1431. https://doi.org/10.1007/s10479-020-03640-6

James, E. H., Wooten, L. P., & Dushek, K. (2011). Crisis Management: Informing a New Leadership Research Agenda. Academy of Management Annals, 5(1), 455–493. https://doi.org/10.5465/19416520.2011.589594

Jüttner, U., & Maklan, S. (2011). Supply chain resilience in the global financial crisis: an empirical study. Supply Chain Management: An International Journal, 16(4), 246–259. https://doi.org/10.1108/13598541111139062

Kaniewski, D., Marriner, N., Morhange, C., et al. (2023). Climate change threatens olive oil production in the Levant. Nature Plants, 9(2), 219–227. https://doi.org/10.1038/s41477-022-01339-z

King, G. (2002). Crisis Management & Team Effectiveness: A Closer Examination. Journal of Business Ethics, 41(3), 235–249. https://doi.org/10.1023/A:1021200514323

Kokaz, N. (2001). Moderating power: a Thucydidean perspective. Review of International Studies, 27(1), 027–049. https://doi.org/10.1017/s0260210500010275

Kull, T., & Closs, D. (2008). The risk of second-tier supplier failures in serial supply chains: Implications for order policies and distributor autonomy. European Journal of Operational Research, 186(3), 1158–1174. https://doi.org/10.1016/j.ejor.2007.02.028

Kurniawan, R., & Zailani, S. (2010). Supply Chain Vulnerability and Mitigation Strategy of the Manufacturing Firms in Indonesia: Manager’s Perspectives. International Business Management, 4(3), 116–123. https://doi.org/10.3923/ibm.2010.116.123

La Soa, N., Duy, D. D., Thanh Hang, T. T., et al. (2024). The Impact of Environmental Accounting Information Disclosure on Financial Risk: The Case of Listed Companies in the Vietnam Stock Market. Journal of Risk and Financial Management, 17(2), 62. https://doi.org/10.3390/jrfm17020062

Mac Fadden, I., Santana, M., Vázquez-Cano, E., et al. (2020). A science mapping analysis of ‘marginality, stigmatization and social cohesion’ in WoS (1963–2019). Quality & Quantity, 55(1), 275–293. https://doi.org/10.1007/s11135-020-01004-7

Manuj, I., & Mentzer, J. T. (2008). Global supply chain risk management strategies. International Journal of Physical Distribution & Logistics Management, 38(3), 192–223. https://doi.org/10.1108/09600030810866986

March, J. G., & Shapira, Z. (1987). Managerial Perspectives on Risk and Risk Taking. Management Science, 33(11), 1404–1418. https://doi.org/10.1287/mnsc.33.11.1404

Mariotti, S. (2022). A warning from the Russian–Ukrainian war: avoiding a future that rhymes with the past. Journal of Industrial and Business Economics, 49(4), 761–782. https://doi.org/10.1007/s40812-022-00219-z

Merz, M., Hiete, M., & Bertsch, V. (2009). Multicriteria decision support for business continuity planning in the event of critical infrastructure disruptions. International Journal of Critical Infrastructures, 5(1/2), 156. https://doi.org/10.1504/ijcis.2009.022854

Miao, W. (2023). Research on the Impact of University Innovation Capacity on Regional Economic Growth in Beijing. BCP Business & Management, 48, 160–170. https://doi.org/10.54691/bcpbm.v48i.5262

Miller, K. D. (1992). A Framework for Integrated Risk Management in International Business. Journal of International Business Studies, 23(2), 311–331. https://doi.org/10.1057/palgrave.jibs.8490270

Montero-Díaz, J., Cobo, M. J., Gutiérrez-Salcedo, M., et al. (2018). A science mapping analysis of ‘Communication’ WoS subject category (1980-2013). Comunicar, 26(55), 81–91. https://doi.org/10.3916/c55-2018-08

Natarajarathinam, M., Capar, I., & Narayanan, A. (2009). Managing supply chains in times of crisis: a review of literature and insights. International Journal of Physical Distribution & Logistics Management, 39(7), 535–573. https://doi.org/10.1108/09600030910996251

Natufe, O. K., & Evbayiro-Osagie, E. I. (2023). Credit Risk Management and the Financial Performance of Deposit Money Banks: Some New Evidence. Journal of Risk and Financial Management, 16(7), 302. https://doi.org/10.3390/jrfm16070302

OECD. (2020). The Territorial Impact of COVID-19: Managing the Crisis across Levels of Government. OECD. Available online: https://read.oecd-ilibrary.org/view/?ref=128_128287-5agkkojaaa&title=The-territorial-impact-of-covid-19-managing-the-crisis-across-levels-of-government (accessed on 13 December 2023).

Orenga-Roglá, S., & Chalmeta, R. (2016). Social customer relationship management: taking advantage of Web 2.0 and Big Data technologies. SpringerPlus, 5(1). https://doi.org/10.1186/s40064-016-3128-y

Pearson, C. M., & Clair, J. A. (1998). Reframing Crisis Management. The Academy of Management Review, 23(1), 59. https://doi.org/10.2307/259099

Pfohl, H. C., Köhler, H., & Thomas, D. (2010). State of the art in supply chain risk management research: empirical and conceptual findings and a roadmap for the implementation in practice. Logistics Research, 2(1), 33–44. https://doi.org/10.1007/s12159-010-0023-8

Qadir, J., Ali, A., ur Rasool, R., et al. (2016). Crisis analytics: big data-driven crisis response. Journal of International Humanitarian Action, 1(1). https://doi.org/10.1186/s41018-016-0013-9

Roberts, K. H. (1990). Managing High Reliability Organizations. California Management Review, 32(4), 101–113. https://doi.org/10.2307/41166631

Sakas, D. P., Giannakopoulos, N. T., Reklitis, D. P., et al. (2021). The Effects of Cryptocurrency Trading Websites on Airlines’ Advertisement Campaigns. Journal of Theoretical and Applied Electronic Commerce Research, 16(7), 3099–3119. https://doi.org/10.3390/jtaer16070169

Sakas, D. P., Kamperos, I. D. G., & Reklitis, P. (2021). Estimating Risk Perception Effects on Courier Companies’ Online Customer Behavior during a Crisis, Using Crowdsourced Data. Sustainability, 13(22), 12725. https://doi.org/10.3390/su132212725

Saleem, F., Khattak, A., Ur Rehman, S., et al. (2021). Bibliometric Analysis of Green Marketing Research from 1977 to 2020. Publications, 9(1), 1. https://doi.org/10.3390/publications9010001

Sapriel, C. (2003). Effective crisis management: Tools and best practice for the new millennium. Journal of Communication Management, 7(4), 348–355. https://doi.org/10.1108/13632540310807485

Sarkis, J. (2020). Supply chain sustainability: learning from the COVID-19 pandemic. International Journal of Operations & Production Management, 41(1), 63–73. https://doi.org/10.1108/ijopm-08-2020-0568

Sawyerr, E., & Harrison, C. (2019). Developing resilient supply chains: lessons from high-reliability organisations. Supply Chain Management: An International Journal, 25(1), 77–100. https://doi.org/10.1108/scm-09-2018-0329

Singh, N., & Hong, P. (2023). CSR, Risk Management Practices, and Performance Outcomes: An Empirical Investigation of Firms in Different Industries. Journal of Risk and Financial Management, 16(2), 69. https://doi.org/10.3390/jrfm16020069

Svensson, G. (2004). Vulnerability in business relationships: the gap between dependence and trust. Journal of Business & Industrial Marketing, 19(7), 469–483. https://doi.org/10.1108/08858620410564418

Tang, C. S. (2006). Robust strategies for mitigating supply chain disruptions. International Journal of Logistics Research and Applications, 9(1), 33–45. https://doi.org/10.1080/13675560500405584

Taylor-Sakyi, K. (2016). Big Data: Understanding Big Data. Available online: https://arxiv.org/ftp/arxiv/papers/1601/1601.04602.pdf (accessed on 25 December 2023).

van der Vorst, J. G. A. J., & Beulens, A. J. M. (2002). Identifying sources of uncertainty to generate supply chain redesign strategies. International Journal of Physical Distribution & Logistics Management, 32(6), 409–430. https://doi.org/10.1108/09600030210437951

van Eck, N. J., & Waltman, L. (2009). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523–538. https://doi.org/10.1007/s11192-009-0146-3

van Eck, N. J., & Waltman, L. (2017). Citation-based clustering of publications using CitNetExplorer and VOSviewer. Scientometrics, 111(2), 1053–1070. https://doi.org/10.1007/s11192-017-2300-7

Supply Chain Risk. (2009). In G. A. Zsidisin & B. Ritchie (Eds.), International Series in Operations Research & Management Science. Springer US. https://doi.org/10.1007/978-0-387-79934-6

Wagner, S. M., Mizgier, K. J., & Papageorgiou, S. (2017). Operational disruptions and business cycles. International Journal of Production Economics, 183, 66–78. https://doi.org/10.1016/j.ijpe.2016.10.002

Wieland, A., & Wallenburg, C. M. (2012). Dealing with supply chain risks. International Journal of Physical Distribution & Logistics Management, 42(10), 887–905. https://doi.org/10.1108/09600031211281411

Zamani, E. D., Smyth, C., Gupta, S., et al. (2022). Artificial intelligence and big data analytics for supply chain resilience: a systematic literature review. Annals of Operations Research, 327(2), 605–632. https://doi.org/10.1007/s10479-022-04983-y

Zsidisin, G. A. (2003). A grounded definition of supply risk. Journal of Purchasing and Supply Management, 9(5–6), 217–224. https://doi.org/10.1016/j.pursup.2003.07.002

Previous
article in this issue

Next
article in this issue