A STUDY ON LOGISTICS RISK EVALUATION INVOLVED IN PIGMENT INDUSTRY
Prof. Harshita Gaikwad, TAPABRATA NAG, TIWARI SHRADDHA SHIVANAND
Faculty of Management Studies,
Parul University
ABSTRACT
In the current worldwide economy, logistics are essential to guaranteeing the smooth movement of commodities among different businesses. The pigment business, which is necessary for colouring a wide range of goods, including paints and cosmetics, has particular difficulties with logistical management. The objective of this research is to assess the logistical risks that are common in the pigment business and provide ways to reduce them. A mixed-methods approach is used in the research, integrating quantitative and qualitative analysis. In order to identify important risk variables in pigment logistics, qualitative data is gathered through surveys and interviews with stakeholders, logistics managers, and industry experts. These elements include supplier connections, inventory management, transportation, warehousing, and regulatory compliance. Moreover, quantitative analysis evaluates the frequency and seriousness of hazards revealed by statistical techniques. This entails the creation of a methodology for evaluating logistics risk that is specific to the pigment sector and incorporates variables including regulatory changes, supply chain interruptions, demand volatility, and shipping delays. The report suggests a thorough risk-reduction plan for the logistics of the pigment sector based on its results. This plan includes preventative actions including expanding the variety of transportation routes, implementing sophisticated inventory control systems, creating backup plans, and improving supplier cooperation. This study's consequences go beyond the pigment business; it provides insights that may be applied to other areas of logistics management. Through the investigation of the particular logistical issues encountered by pigment producers, this study enhances the resilience, efficiency, and overall sustainability of the supply chain.
Keywords: Supply Chain Management, Risk Mitigation Techniques, Quantitative Analysis, Pigment Industry, Logistics Risk Assessment.
