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Managing perceived risk: a multi-tier case study of a uk retail beef supply chain

In: Journal on Chain and Network Science
Authors:
S.A. Hornibrook Department of Agricultural Sciences, Imperial College at Wye, Wye, Ashford, Kent TN25 5AH, United Kingdom, 020 7594 2838, s.hornibrook@ic.ac.uk

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A. Fearne Department of Agricultural Sciences, Imperial College at Wye, Wye, Ashford, Kent TN25 5AH, United Kingdom, 020 7594 2838, s.hornibrook@ic.ac.uk

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Abstract

This paper examines the effect of increased environmental uncertainty and information asymmetry on contractual relationships between all members of the beef supply chain. It offers an alternative theoretical framework to the traditional Transaction Cost Economics view of the treatment of information by viewing co-ordinated supply chains as a series of Principal Agent relationships, and draws on Perceived Risk Theory to explain both consumer and organisational behaviour. The paper also presents a supply chain methodology and submits empirical evidence of the perceived risks, associated management strategies and benefits for all members, including consumers, of one particular UK retail co-ordinated supply chain for an own brand fresh beef product.

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