Impact of Risks and Uncertainties on Supply Chain: A Dairy Industry Perspective

Abstract

No business organisation is out of purview of risks and uncertainties and hence the dairy industry is no deviation. Dairy industry which plays a crucial role in agro-based economy of a country provides enough scope to the rural and sub-urban people to earn extra money in their leisure time. The industry is extended from a milk producer in the rural area to a consumer in the urban area through some of the core processes like pasteurisation and transportation. The dairy food supply chain which entangles several stakeholders in the system gets disrupted many a times due to various vulnerabilities in the operation. The vulnerabilities in terms of risks and uncertainties get multiplied with the perishability nature of the raw material that is milk which the industry deals in. The study will discuss about the various risks and uncertainties from a dairy industry perspective and their impact at various stages of the supply chain.