ASSESSMENT OF SUPPLIER RISK FOR COPPER PROCUREMENT

Download

index.pdf

Date

2019-01-01

Author

Buzdogan-Lindenmayr, Ezgi
Kara, Guray
Kestel, Sevtap Ayşe

Metadata

Show full item record

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Item Usage Stats

243
views

121
downloads

Procurement risk management (PRM) requires a good understanding and assessment of all potential risks. As the procurement industry mostly functions globally and the supply-demand chain forms a dependency structure among all interested parties, the quantification of risks related to the suppliers gain importance. This study presents a systematic PRM to evaluate and quantify the risks of a commodity associated to its suppliers. The probabilistic set up using total probability theorem on the information collected using risk management tools, such as expert opinion, charts, survey and historical realizations are imposed to quantify the risks. The resulting probabilities are utilized to construct a risk matrix which illustrates the performance of each supplier at every potential risk source. An application to a copper procurement as case study is done based on the risk management process evaluation. The quantification of the supplier's risk with respect to a risk ranking illustration in copper procurement is exposed to indicate the effectiveness of the methodology and the necessity of such evaluation in decision making.

Subject Keywords

Procurement process, Risk management, Risk matrix, Total probability theorem, Supplier risk, Copper, Procurement process, Risk management, Risk matrix, Total probability theorem, Supplier risk, Copper

URI

https://hdl.handle.net/11511/30641

Journal

COMMUNICATIONS FACULTY OF SCIENCES UNIVERSITY OF ANKARA-SERIES A1 MATHEMATICS AND STATISTICS

DOI

https://doi.org/10.31801/cfsuasmas.501491

Collections

Graduate School of Applied Mathematics, Article

Suggestions

OpenMETU
Core

Incorporating sustainability in risk assessment of construction projects Dikmen Toker, İrem; Birgönül, Mustafa Talat (null; 2017-11-27) There are standard procedures proposed for risk management (RM) such as “ISO 31000:2009 Risk Management Principles and Guidelines” that provides principles, framework and a process for managing risk. However, RM is still among the most popular research topics in project management domain as there is a lack of consensus on the definition of risk as well as the contextual factors affecting its level. Many authors argue that although complexity, vulnerability, uncertai...
A risk management approach for acquisition of software intensive systems in the Turkish Army. Saylan, Necip; Demirös, Elif; Demirös, Onur; Department of Information Systems (2002) The current techniques of risk assessment rely on checklists and human expertise. This constitutes a rigorous approach only when the people are experts on risk assessment. This thesis introduces a formal method and addresses the necessity of the identification and analysis of the risk. During implementation of risk management process, risk assessment will be discussed within an acquisition of software intensive systems in the Turkish Army. This thesis includes a survey and comparison of other software risk ...
Assessment of risk paths in construction projects Ozcan, G; Dikmen Toker, İrem; Birgönül, Mustafa Talat (2011-01-01) Risk identification is the most important step in project risk management (PRM), as the risk models are constructed based on previously defined risk sources and their interrelations. Although previous studies have concentrated on a one-way relation between risk factors, there are cause-effect relationships between risk sources, events and consequences. 'Risk paths' represent the causal relationships between risk sources, events and consequences and they should be assessed during risk identification, rather ...
An Experimental Study on Impact of Risk Data Visualization onRisk Evaluations Dikmen Toker, İrem; Eken, Görkem (null; 2018-11-18) Risk assessment is a systematic process to characterize and evaluate risk, with the available knowledge. Thus, its success depends significantly on the "availability of knowledge" during the assessment process. The knowledge elicitation from experts, the structure of the risk database and information visualization that may help sense-making from previous projects are critical factors that can improve risk assessment process. Risk assessment is usually carried out at the start of a project and updated during...
Using Post-Project Reviews for Risk Assessment of Construction Projects Shokouhi, Pegah; Birgönül, Mustafa Talat; Dikmen Toker, İrem; Department of Civil Engineering (2022-8-26) Risk management (RM) is about identifying risk factors, analyzing their impacts on project success, and developing management strategies to mitigate them. Learning from previous projects to make better predictions in forthcoming projects is critical for the success of RM activities. Many construction companies conduct post-project reviews (PPRs) to record lessons learned (LL) from projects. However, if these reports do not contain the necessary risk-related information and are not prepared and stored ...

Citation Formats

E. Buzdogan-Lindenmayr, G. Kara, and S. A. Kestel, “ASSESSMENT OF SUPPLIER RISK FOR COPPER PROCUREMENT,” COMMUNICATIONS FACULTY OF SCIENCES UNIVERSITY OF ANKARA-SERIES A1 MATHEMATICS AND STATISTICS, pp. 1045–1060, 2019, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/30641.