Any disruption can disturb many organisations and even the whole system. There are many theories and frameworks that present a solution but no study is available that theoretically development framework for supply chain risk management. The focus of this study is to develop a framework for identifying risks and assessment of their effects on supply chain performance. Additionally, evaluate the role of supply chain collaboration for Malaysia manufacturing. This is a conceptual paper, systematic as well as content analysis have been done for the literature review. For future studies, there is a need to empirically verification of this theoretical framework. The proposed methodology to achieve this framework is; a questionnaire will be developed from a pool and will be validated by an exploratory view for risk identification. This questionnaire will be distributed among Malaysian manufacturing and data will be analysed through structural equation modelling (SEM) for risk assessment and mitigation. The theoretical contribution of this study is the support of the theory of swift, even flow and information processing theory.