Risk plays an inevitable role at the heart of every supply chain. Every participant from start to finish must contend with its own unique types and levels of risk. The larger and more complex the supply chain, the more extensive the required risk management framework. Risk management is a process which focuses on the identification, acknowledgement and planning for any eventuality that may occur. It involves the prioritisation of risks in accordance with their severity and how likely they are to happen. The importance of supply chain operations highlights the value of minimising and controlling risk. Ignorance and/or inaction could have dire consequences for the business as a whole.
This professional tutorial has been designed for supply chain managers, risk managers and business owners alike. Explore the kinds of risks every supply chain must contend with, including potential loss of control through outsourcing and globalisation. Learn how to identify your brand’s priorities and make a backup plan, track and evaluate key supply chain data, work with the SCOR model and use the balanced scorecard to your advantage.