This study aims to establish a comprehensive, compliant decision framework to analyse risk mitigation strategies for circular supply chain (CSC) adoption in India’s textile industries.
Ashutosh Mishra, Department of Mechanical Engineering, Malaviya National Institute of Technology, Jaipur, Rajasthan, India.
Gunjan Soni, Department of Mechanical Engineering, Malaviya National Institute of Technology, Jaipur, Rajasthan, India.
Bharti Ramtiyal, Department of Management Studies, Graphic Era (Deemed to Be University), Dehradun, India.
Mayank Dhaundiyal, Professor of Strategy and Dean at Jindal Global Business School (JGBS), O. P. Jindal Global University, Sonipat, Haryana, India.
Aalok Kumar, Indian Institute of Management, Visakhapatnam, Andhra Pradesh, India.
P. R. S. Sarma, Indian Institute of Management, Visakhapatnam, Andhra Pradesh, India.
Textile industries are among the most polluting and demand urgent management measures to mitigate their negative environmental impact. Thus, it is imperative to incorporate the textile industry into the circular economy and to foster sustainable practices. This study aims to establish a comprehensive, compliant decision framework to analyse risk mitigation strategies for circular supply chain (CSC) adoption in India’s textile industries. The Situations Actors Processes and Learnings Actions Performances (SAP–LAP) technique analyses the problem. However, interpreting the interacting associations between the SAP–LAP model-based variables is somewhat lacking in this procedure, which might skew the decision-making process.
As a result, in this study, the SAP–LAP method is accompanied by a novel ranking technique, namely, the Interpretive Ranking Process (IRP), which reduces decision-making issues in the SAP–LAP method and aids in evaluating the model by determining the ranks of variables; furthermore, the study also offers causal relationships among the various risks and risk factors and various identified risk-mitigation actions by constructing Bayesian Networks (BN) based on conditional probabilities.
The study’s originality represents the findings using an instinctive and interpretative choice approach to address significant concerns in risk perception and mitigation techniques for CSC adoption in the Indian textile industries. The suggested SAP–LAP and the IRP-based model would assist firms in addressing risk mitigation techniques for CSC adoption concerns by providing a hierarchy of the various risks and mitigation strategies to cope with. The simultaneously proposed BN model will help visualise the conditional dependency of risks and factors with proposed mitigating actions.
Published in: Annals of Operations Research (2023)
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