Improvement on Export Efficiency Through Resilient Supply Chain Management, Risk Management, and Innovation Management in The Jewelry Industry
Keywords:
Supply Chain Resilient, Risk Management, Innovation Management, Export Performance, Jewelry IndustryAbstract
The objectives of this study were: 1) to examine the management of flexible supply chains, risk management, innovation management, and export efficiency in the gem and jewelry industry in Thailand, and 2) to verify the model's structural equation, study the direct and indirect influences of enhancing export efficiency through managing flexible supply chains, risk management, and innovation management in the gem and jewelry industry. The population for this research included business owners, managers, and executives in the gem and jewelry industry, totaling 400 establishments. A systematic random sampling method was used, and key informants, amounting to 8 individuals, were selected through purposive sampling. Data were collected through questionnaires and interviews and analyzed using structural equation modeling.
The research findings revealed that: 1) export efficiency, management of flexible supply chains, risk management, and innovation management in the gem and jewelry industry were at a high level; 2) managing flexible supply chains, risk management, and innovation management had a positive direct impact on export efficiency; and 3) managing flexible supply chains had a positive indirect impact on export efficiency through the mediation of risk management and innovation management. The structural equation model analysis aligned with the insightful qualitative data. The research outcomes can be practically applied, urging business operators to enhance their capabilities in increasing productivity, managing raw materials adequately, reducing production costs, shortening product manufacturing and delivery times, focusing on research, and designing unique and diverse products. Additionally, businesses should establish cooperative networks with partners by sharing information, exchanging resources, predicting future needs, and making joint decisions to create opportunities for learning new skills, promote teamwork, collaborate to reduce competition risks and pressures from traditional competitors, prevent competitors from obtaining confidential information, and employ information technology systems to enhance speed, accuracy, and flexibility in adapting to dynamic market conditions. Furthermore, businesses should have contingency plans to quickly respond to unexpected interruptions, ensuring continuous operations and profiting from arising situations.
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