Supply chain risk management (SCRM) is the process of taking strategic steps to identify, assess and mitigate the risk in your end-to-end supply chain.
We started to encounter in our daily business More storms. More political strife. More cyber events. Threats are increasing, and so does your risk.
Risk Identification
The only way to address risk is to make sure you’re identifying it in the first place. The first phase of the risk management lifecycle is to establish a risk profile and then enact active monitoring to keep it up to date.
Risk Assessment
Understand what impact a risk event could have on your business. Be aware of those partners who have a significant impact on sales, margins or profit.
Risk Mitigation
Define both preventive action plans and reactive action plans. These are what provide the basis for addressing risk using appropriate measures to secure supply and protect brand.