Enhancing Supply Chain Resilience: Strategies and Practices for Mitigating Business Risks in The Retail Gas Industry of Nueva Ecija

Abstract: This study determines risk mitigation strategies and practices in the retail gas sector of Nueva Ecija, utilized descriptive correlational research methods. Data gathering included distributing a researcher-made survey questionnaire to 150 respondents, consisting of 50 managers, employees, and customers across five cities within Nueva Ecija.

The study findings reveal significant insights into the family-owned businesses in the retail gas sector of Nueva Ecija, highlighting their operational characteristics and risk management practices. Family-owned businesses, particularly those operating for 5 to 10 years with 5 to 10 employees, constitute a prominent segment. In this sector, emphasis is placed on adaptive capacity, environmental practices, and proactive measures to address emerging risks. Mitigating supply chain risks is crucial, with strategies like supplier diversification, inventory management adjustments, and leveraging digital technologies being key. The acceptance of the null hypothesis indicates that socio-demographic factors of respondents do not significantly influence risk mitigation practices. Building upon these findings, a proposed plan has been developed to enhance risk management within the retail gas industry. This plan encompasses activities tailored to address vulnerabilities, enhance resilience, and optimize operations, ultimately aiming to equip stakeholders with effective strategies for long-term success in a dynamic environment.

adaptive capacity, environment, emergence, adaptation

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