Risk Management in Supply Chain Management

Supply Chain Risk Management Process

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. Effective risk management in supply chain management focuses on identifying, acknowledging, and preparing for any potential disruptions. The supply chain risk management process involves prioritising risks according to their severity and likelihood, while implementing strategies to minimise their impact. Failure to manage these risks effectively could result in costly disruptions, reputational damage, and even long-term business failure.

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This professional tutorial has been designed for supply chain managers, risk managers, and business owners alike. Study a detailed breakdown of all key stages of the supply chain risk management process, including setting objectives, conducting risk assessments, and prioritising mitigation strategies. Explore the risks that modern supply chains face—ranging from outsourcing challenges and globalisation to natural disasters and market volatility. Learn how to identify your organisation’s priorities, create effective backup plans, monitor supply chain data, and apply frameworks such as the SCOR model and balanced scorecard to strengthen overall risk management in supply chain management.

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