Various types of supply and demand uncertainties existing at different nodes of a supply chain giving rise to a variety of risks that can be defined from different perspectives.This gives rise to multi-approaches to risk classification. The purpose of this paper is to review published approaches to supply chain risk identification, classification and elimination, with relation to performance.This review includes many past and present studies and is a source of useful references for those examining supply chain risk. This paper advises academicians to work further in identifying specific risks, and ways of managing the same in specific industry context. For managers, it provides knowledge of the types of risks that may be present in their supply chain and presents a variety of strategies for identifying and managing the same.

In today's fast moving world, man has conquered many impossibilities that existed in every sphere of his activity by dint of technological advancements and innovation. Nature has given us many things but man's greed has never known any limits. As a result, with gradual and continual advancement, man's needs and desires have multiplied craving for more and newer types of goods and services.

This limitless greed coupled with population explosion, has given the business communities a great impetus to increase their product portfolios including variety, and also, to serve a wide range of customers (from low income group to high income group). This forced the companies to have a wide network of suppliers to ensure timely supply of essential raw materials needed for scheduled production of goods, thereby making them available at the right time in the market.

This vast network connecting several businesses with the ultimate aim of providing customers with quality goods and services is called supply chain. In fact, this includes the movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption.

Supply Chain Management Journal, Supply Chain Risk Identification, Business Communities, Risk Management Strategies, Technological Development, Gglobal Market, Supply Chain Risks, Economic Crises, Macroeconomic Risks, Resource Risks, Technological Innovations, Supply Chain Management Literature, Analytical Hierarchy Process, Corporate Social Responsibility, Information Security, Risks Knowledge, Business Decision Making.