aspg-1-1686-1792176817 20261016185337 American Scientific Publishing Group admin@americaspg.com American Scientific Publishing Group American Journal of Business and Operations Research AJBOR 2770-0216 2692-2967 2023 10 1 Khyati Chaudhary Faculty of Engineering and Technology agra College Agra, India Gopal Chaudhary VIPS-TC, School of engineering and technology, Delhi, India Manju Khari School of Computer and Systems Sciences, Jawaharlal Nehru University, New Delhi, India Supply chain networks are complex systems that involve multiple entities and activities, making them vulnerable to various risks that can negatively impact their performance. Game theory models have been used in various fields to analyze strategic interactions among agents and to make decisions in uncertain environments. This study investigates the application of game theory models for risk management in supply chain networks. Then, we present a framework for applying game theory models for risk management in supply chain networks. Our framework consists of three stages: risk identification, risk analysis, and risk mitigation. We validate the application of the proposed framework using a case study of a supply chain network for a fictional company. The results of the case study demonstrate that game theory models can provide valuable insights into the behavior of supply chain entities in different risk scenarios. The models can also help in identifying optimal strategies for mitigating risks and improving the performance of the supply chain network. The finding imply that the proposed framework can be used as a guide for practitioners to apply game theory models in their supply chain risk management practices. 2023 42 52 1686 https://creativecommons.org/licenses/by/4.0/ 10.54216/AJBOR.100104 https://americaspg.com/journal/1/article/1686 https://americaspg.com/storage/01742941493.pdf