However, below are four steps solution we can use to mitigate some of these challenges.

Identify and prioritize risks -Using a Failure Modes and Effects Analysis scoring system to identify and prioritize supply chain risks. The scoring should be used to assess risk severity, likelihood, frequency and detection.

Visualizing risks -Generate a visual depiction of product flow in terms of volume. The resultant image should clearly show any potential vulnerabilities or information gaps based on flow volumes and potential supply risks related to involved geographic areas.

Close information gaps - Information from sources like third-party data, real-time monitoring tools andsupplier collaborationare just a few examples of "transparency levers" that help identify information gaps. Once gaps are identified, the company can make the appropriate supply chain changes to close the gap and in turn, reduce risks.

Manage insight and monitor the supply chain -To manage compliance and risk information. basic algorithms can then be used to develop risk tiers for continued monitoring and managing supply chain risks. Finally, Corrective action plans (CAPs) can be used to generate effective risk resolutions.

NB: PARAPHARSED THE ABOVE