Interpretive Structural Modeling of Petrochemical Industry Supply Chain Risks

In a complex and volatile environment of the supply chain, any attempt to reduce the risks may increase or decrease other risks; thus, achieving an overall picture of the risks of supply chain and relationships between them are necessary and will lead to more effective and comprehensive strategy to response to risks. The purpose of this paper is identifying and extracting the potential risks of supply chain using interpretive structural modeling (ISM) approach. In order to do that, first an in-depth litreture review has done and Delphi method with content validity has used, and then, the ISM model, representing the structure of risks relationship has extract. The results show that the external environment supply chain risks (natural risks, political/social, policy and macroeconomic), at a low levels of the model, have the most impact on other risks and are as a emerging and or increasing factor for industrial environment (market and product competition; market inputs, communications and collaboration) and organizational environment risks (operational, financial, strategic, commitment and organizational culture and employee).