Failure mode and effects analysis–analytic hierarchy process (FMEA-AHP) model in supplier risk management

Panić, Marija; Que, Xiaojun

doi:10.21314/JRMV.2025.009

Article Restricted access M23

Panic & Xiaojun - JRMV.pdf (229.45KB)

2025

Panić, Marija
Que, Xiaojun

Infopro Digital Services

Journal of Risk Model Validation

English

M23 - Paper in an international journal

Risk management is a crucial process that enables organizations to identify, assess and manage risks that could potentially impact their goals and operations. This paper uses the failure mode and effects analysis–analytic hierarchy process (FMEA–AHP) risk model to identify and manage supplier risks in a mining firm. First, the FMEA approach is used to identify and evaluate the supplier’s risks and to determine the risk priority. Then the AHP is used to suggest several potential solutions for reducing the risks that identified by the FMEA, with each solution being evaluated based on several criteria. Validation of the risk model in this paper confirmed that it can help managers develop risk management plans and select the best course of action. The approach in this paper provides an enterprise risk management model that is universally applicable and adaptable, no matter the type of risk or the size or activity of the company.

supplier risk management, failure mode and effects analysis (FMEA), analytic hierarchy process (AHP), risk model, enterprise risk management (ERM)

DOI

10.21314/JRMV.2025.009

ISSN

1753-9579
1753-9587

URI

https://repozitorijum.tfbor.bg.ac.rs/handle/...

Scopus

OpenCitations

dc.rights.license	ARR
dc.identifier.doi	10.21314/JRMV.2025.009
dc.identifier.uri	https://repozitorijum.tfbor.bg.ac.rs/handle/123456789/6032
dc.description.abstract	Risk management is a crucial process that enables organizations to identify, assess and manage risks that could potentially impact their goals and operations. This paper uses the failure mode and effects analysis–analytic hierarchy process (FMEA–AHP) risk model to identify and manage supplier risks in a mining firm. First, the FMEA approach is used to identify and evaluate the supplier’s risks and to determine the risk priority. Then the AHP is used to suggest several potential solutions for reducing the risks that identified by the FMEA, with each solution being evaluated based on several criteria. Validation of the risk model in this paper confirmed that it can help managers develop risk management plans and select the best course of action. The approach in this paper provides an enterprise risk management model that is universally applicable and adaptable, no matter the type of risk or the size or activity of the company.
dc.language.iso	en
dc.publisher	Infopro Digital Services
dc.source	Journal of Risk Model Validation
dc.subject	supplier risk management
dc.subject	failure mode and effects analysis (FMEA)
dc.subject	analytic hierarchy process (AHP)
dc.subject	risk model
dc.rights.uri	All rights reserved
dc.subject	enterprise risk management (ERM)
dc.title	Failure mode and effects analysis–analytic hierarchy process (FMEA-AHP) model in supplier risk management
dc.type	article
dc.type.version	publishedVersion
dc.citation.volume	19
dc.citation.issue	3
dc.citation.spage	33
dc.citation.epage	57
dc.citation.rank	M23
dc.creator	Panić, Marija
dc.creator	Que, Xiaojun
dc.date.accessioned	2025-12-02T12:22:35Z
dc.date.available	2025-12-02T12:22:35Z
dc.date.issued	2025
dc.identifier.issn	1753-9579
dc.identifier.issn	1753-9587


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