We’ve been talking a lot here lately about supply chain risk management (see here, here and here) so when I came across a couple of relevant articles on the topic I thought I would add them to the discussion.

The first article here at IndustryWeek talks about the top five supply chain risk factors and talks about how to learn to identify and assess all the risks in your supply chain.  It defines them as:

1. Country of origin
2. Shipment and delivery accuracy
3. Physical security
4. Internal processes
5. Social and environmental responsibilities

The second article talks about the portrait of best-in-class supply chain risk management and cites research from Aberdeen.  This research found that 55% of companies surveyed had suffered financial loss as a result of supply chain disruptions in the last year.  Aberdeen recommends the following actions:

• Improve supply chain data quality used for decision making
• Collaborate more effectively with supply chain partners to jointly manage supply chain risks
• Redesign the supply chain

Like so many other critical issues, developing a solid supply chain risk management strategy is a combination of people, processes and the right tools.  But, with the growing complexity and risk of supply chain disruptions, more and more leading companies are focusing on building a solid risk mitigation and response strategy.

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Tags: Supply chain, Supply chain risk management
Posted in Supply chain risk management
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