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The VESP Model: A Conceptual Model of Supply Chain Vulnerability
Abstract
During the last decade, researchers and practitioners became more interested in the domain of vulnerability analysis. It is considered as a key element in defining and managing supply chain risks. The great complexity of a global supply chain and of its environment, coupled with managerial trends, makes such a chain more vulnerable to disruptive events. A clear understanding of the possible consequences generated of this combination is a fundamental step to build an effective risk management plan and strategies. However, more studies are needed in order to develop the understanding of supply chain vulnerability. This article provides an explorative framework in order to analyze and quantify vulnerability within supply chains. Based on the existent literature, this article explores the factors that affect the level of Supply Chain Vulnerability (SCV). Four key components of SCV are identified (i.e. Exposure, Sensitivity, Susceptibility and Preparedness level). Based on these four categories of SCV, a conceptual model is developed. Such a model enables the definition of clear metrics and can further be used by researchers and practitioners to build consistent quantification methodologies.
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