Operations Risk Management: Overview of Paul Kleindorfer's Contributions

Morris A. Cohen, Howard Kunreuther
2009 Production and operations management  
T his paper reviews Paul Kleindorfer's contributions to Operations Management (OM), with a special focus on his research on risk management. An annotated bibliography of selected other contributions reviews the breadth of topics that have occupied Kleindorfer's research attention over his now 45ϩ years of research. These include optimal control theory, scheduling theory, decision sciences, investment planning and peak load pricing, plus a number of important applications in network industries
more » ... d insurance. In the area of operations risk management, we review recent work that Kleindorfer and his colleagues in the Wharton Risk Center have undertaken on environmental management and operations, focusing on process safety and environmental risks in the chemical industry. This work is directly related to Kleindorfer's work in the broader area of "sustainable operations", which he, Kal Singhal and Luk Van Wassenhove recently surveyed as part of the new initiative at POMS to encompass sustainable management practices within the POMS community. Continuing in the area of supply chain risks, the paper reviews Kleindorfer's contributions to the development of an integrated framework for contracting and risk hedging for supply management. The emphasis on alignment of pricing, performance and risk management in this framework is presaged in the work undertaken by Kleindorfer and his co-authors in the 1980s on after-sales support services for high-technology products. This work on supply chain risk, and its successors, is reviewed here in light of its growing importance in managing the unbundled and global supply chains characteristic of the new economy.
doi:10.1111/j.1937-5956.2007.tb00278.x fatcat:h5nykclcdbcdvbtijoukbx4puy