Assessing the Benefits and Challenges in Transportation Logistics: Testing the Effectiveness and Efficiency of Existing Risk Evaluation Procedures in Supply Chain

Supply chain risk management is critical to the effectiveness and resilience in transportation logistics operations. The purpose of this study is to examine the effectiveness and proficiency of current risk evaluation processes in transportation logistics supply chains. Through quantitative research approach, the data was sourced through surveys of supply chain professionals, logistics directors, and corporate executives. The study shows that Scenario Analysis, Quantitative Risk Assessment, Qualitative Risk Assessment, Supply Chain Mapping and Root Cause Analysis as well as Supply Chain Diversification significantly impacts transport logistics performance. However, Real-time Monitoring and Tracking are not strongly linked to changes in transport logistics performance. The development of best practises and standardization for efficient risk assessment and management in supply chains can be influenced by these findings. The study also perceives the challenge of integrating standardized risk evaluation procedures with existing systems as highly significant and practically impactful. Several anticipated benefits arise from incorporating new technology in improving supply chain risk evaluation processes. However, the cost of implementation and maintenance, along with addressing organizational culture and change resistance, as highly significant incorporating emerging technologies into risk assessment procedure. It emerged that when integrating new technologies, the costs of installation and upkeep, data security and privacy concerns as well as dealing with organisational culture and change resistance, are quite important. The study underscores the value of robust risk assessment practices in enhancing supply chain.