What are the Supply Chain Risks and how do you manage them ?
Posted in the Business News Forum
Since: Mar 14
#1 Mar 21, 2014
In order to maintain production and maximize profit, all companies and businesses need to properly manage risks to supply chains. Effective supply chain management means that the flow of goods needs to be efficiently managed. This includes the transportation and storage of raw materials, work-in process inventory, and finished products. Should something go wrong at any point along the supply chain, it could jeopardize the entire process.
Ultimately, when it comes to supply chain risk management it is essential to note that even a disruption caused by a localized event may have consequences across a global economic system. For example, the 2011 Japanese earthquake and tsunami severely impacted the global electronics supply chain. Therefore, supply chain risk management is essential to the preservation of the stability of global markets.
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