Thank you for your compliments and I am glad to see that my blog is helpful to you. That in itself is the best compliment I can get.

As to defining risk, you are right.

Some prefer to call it uncertainty, because in most cases that is what it is trying to express. And if the outcome of a “harmful” event or situation is certain, then there is no risk (Aven, 2009). Some say that unless an event or a situation can actually harm you, that event contains no risk, meaning that if you have preventive or mitigative measures in place (and if they work, presumably), then there is no risk involved. Some also link the uncertainty in the calculations of risk to the risk (Aven, 2007).

There is indeed a plethora of differing risk definitions, as the book on Security Risk Management shows.

As to supply chains, supply chain uncertainty, supply chain turbulence and supply chain volatility used as “substitutes” for risk, which is perhaps a better description in particular cases, but not on a wide basis.

Risk, ultimately has the widest scope, and I don’t think the word risk is going to go away that soon, even though there could be a more accurate word.

I am currently studying my Master’s, really the information provided by you here is wonderful and its very helpful. But I do have some doubt, what is a risk in a supply chain perspective actually, as far as I am concerned risk is everywhere right, so is it a better idea to call it by any other word?

i have learned much about risk and vulnerability,

i am working with risk in coffee supply chain now, and using vulnerability analysis for coffee farmers,

but actually i did not understand much about the difference of risk and vulnerability,

after visiting your website, i can take some ideas and understand the methodology to analysis each of them.

thank you,

domy

The only other reference that comes to my mind immediately is the New Zealand research project Resilient Organisations, but I see you already have that on your blog.

I’ll dig through my archive of articles to see if I can come up with something similar. Today’s article had been lying in my file cabinet for quite a while, and I re-discovered it just few days ago, so perhaps there are other resilience gems, too. I know that I have some more articles with a disruption profile in it.

I’ll get back to you as soon as I can.

BTW, you do have a great blog, which one day I would like feature.

Really great that this came up in my RSS feed today! Thanks for this review. I will be referencing this in my own blog post today.

Do you have any other references on the same subject you can suggest? I have Sheffi – but would be keen to get some leads while I try to source the work you reviewed.