Supply chain risk manager
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We consulted supply-chain experts to develop a clear picture of the risks business leaders need to consider when assessing their suppliers, what they can do to mitigate those risks and how technology can assist in these efforts. Leaders are acutely aware of the need for a clear strategy to reduce risks in their supply chain, and they should also know they must continuously evaluate and improve upon that strategy. These organizations can’t match the cash reserves of large enterprises, so the effects of a problem can be more immediate and severe. “The supply chain must be secure and resilient, and we need alternate suppliers we need alternate routes.”įor a growing business, the impact of not having inventory to sell or materials to manufacture goods can be devastating - the Federal Reserve estimates the pandemic knocked out 200,000 businesses in 2020. “COVID has pushed all of these concerns up to the front of everybody’s mind, and it’s very boardroom-relevant now,” said Jim Yarbrough, a global intelligence program manager at BSI Group, who consult with businesses on reducing supply-chain risks. More recent issues like a grounded container ship blocking the Suez Canal and winter storms in Texas have emphasized the point. Since then, the supply chain has become a front-and-center issue at the highest levels of a business. Of course, that all changed last year when widespread shortages and delays affected businesses around the world and across industries. It was the domain of operations and warehouse managers (or, increasingly, third-party logistics partners). But for the most part, so long as everything was running smoothly - and it usually was - logistics were not a top concern for the C-suite. Organizational leaders knew the company’s key suppliers, kept an eye on monthly purchasing costs and may have helped resolve delays or other minor disruptions that popped up from time to time. They should also focus on tightening relationships with their supply chain partners.īefore 2020, the supply chain may have been something of an afterthought for the owners and leaders of many small- and medium-sized businesses. Beyond diversifying suppliers, growing businesses might mitigate these risks by increasing on-hand inventory for certain products.
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#SUPPLY CHAIN RISK MANAGER SOFTWARE#
Supply Chain Risk AssessmentsĭOJ performs research and analysis of hardware and software acquisitions to identify supply chain risks, including vendor insolvency and litigation, cyber terrorism, malware, data theft, and Advanced Persistent Threat (APT) risks.
#SUPPLY CHAIN RISK MANAGER HOW TO#
Select the services and agency provider logos below to contact service providers directly and learn more about how to obtain these services. Services and tools that help establish an organization's priorities, constraints, risk tolerances and assumptions, and support risk decisions associated with managing supply chain risk.