The Worthy Challenge of Supply Chain Risk Management

Although we have all become accustomed to seeing visual representations of the supply chain as a literal metal chain, the ‘links’ are rarely fastened together – or even straight – in the real world of global business. While the supply chain may one thing, it is multi-faceted, often managed through a matrix of different functions and roles, and subject to a range of external forces and pressures.

Visibility and information is the key

Even identifying and managing risk requires a chain of sorts. Risk is an inevitable part of doing business. In order to manage it, companies must put context specific plans in place, and those plans are driven by internal perceptions of the risks most likely to come to fruition and affect an operation or diminish brand value.

Those perceptions are driven, in turn, by the level of visibility and information available on the suppliers in the chain. Since risk is, in fact, everywhere, information and visibility must be pursued far beyond the first tier of the supply chain: a challenge that promises tremendous value for the companies able to leverage their understanding of both risks and mitigation options.

Challenge supply chain

Challenge supply chain

The speed of supply responsiveness

For a business to be considered agile – a prized state that is often associated with market leadership and competitive advantage – goods must respond to demand signals and move quickly through the supply chain. This minimizes waste and inefficiency and closes the gap between demand and revenue. The same must be true for the information moving up and down the supply chain. Customers and competition often drive the speed of supply responsiveness. But it is up to supply chain managers to accelerate the speed of information about suppliers, geography, and regulations as well as the resulting decision making process.

riskmethods emphasizes the importance of and provides a solution to all of the above challenges: the reality of distributed information, the need to pull that information into a cohesive intelligence platform, and the opportunity that exists for companies able to achieve visibility and empower fast, informed decisions.

Download Whitepaper Challenge supply chain risk management

Download Whitepaper Challenge supply chain risk management

Download our new whitepaper “The Worthy Challenge of Supply Chain Risk Management”, to learn:

  • What the real sources of risk in your supply chain are
  • The difference between Megatrends and Influencers
  • How to determine the appropriate success factors for your supply chain risk management effort

Do you want to get an overview about supply chain risk management in general or do you want to learn more about the riskmethods supply chain risk management software?

Kelly Barner is the Owner and Editor of Buyers Meeting Point, LLC. Kelly has a unique perspective on procurement from her experience on both sides of the negotiation desk. She has led projects involving members of procurement, supplier and purchasing teams. She has practical skills in strategic sourcing program design and management, opportunity assessment, knowledge management, and custom taxonomy design and implementation.

Kelly has her MBA from Babson College as well as an MS in Library and Information Science from Simmons College. She was recognized as a Supply & Demand Chain Executive ‘Pro to Know’ every year from 2012-2016. In 2013 Kelly was also recognized as one of S&DCE’s 28 ‘Top Female Supply Chain Executives.’ In 2014, Kelly co-authored Supply Market Intelligence for Procurement Professionals: Research, Process, and Resources and in 2016 she released her second co-authored title, Procurement at a Crossroads: Career Impacting Insights into a Rapidly Changing Industry.

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