provide 3 concepts ideas or issues you think are most importanf amd why (using the articpes) then probide 2 examples of how you might use thess concepts or ideas in the future (if not applicable to you personally then provide an example seen in industry)

post 1 question to the group anout an area or item you are having trouble understanding or would like to know more about

Every company in every industry is exposed to internal and external risks from supply chain disruption Internal supply chain risks include those caused by: Disruptions of internal operations Changes in key management, personnel, and business processes Not putting contingencies in place in case something goes wrong Not implementing proper cybersecurity policies and controls to protect against hackers and data breaches Not complying with environmental regulations or labor laws Not having the goods to meet customers' needs. External supply chain risks include those caused by: . Unpredictable or misunderstood customer demand Interruptions to the flow of products, including raw materials, parts, and finished goods Social, governmental and economic factors, including the threat of terrorism Condition of a supplier's physical facility and regulatory compliance Natural disaster, including earthquakes, hurricanes, and tornados An organization could also fall victim to supply chain financial risk if something happens that threatens the financial health of a supplier, such as bankruptcy. In addition, a company may suffer reputational risk if a supplier engages in any activity, such as bribery, child labor, or anything that could reflect badly on the company's brand. Many businesses mitigate supplier risk by diversifying their suppliers. Successfully managing risk is critical to an organization's existence. Organizations should deploy real-time supply chain risk identification and real-time risk management strategies to identify and minimize threats that could interrupt access to goods or services that are critical to the business. Companies should also implement the appropriate risk-based decision-making strategies and include SCRM as part of their annual enterprise risk assessment policesses to ensure business continuity and supply chain resilience for the long term. MacBOOKP pesala inga COND ohanall altartetraltatitles ohar. My l palaatta ds analystarhe assips COND daalai Dying Product rtallaa illai Building in reply Chaine satriarraal II trochu ute tal Mill A S 1 PE $ NS 1 3 4 5 6 7 8 0 Q W Im T R T Y 3 U | O P ( L A A S D F G G H H J K L V N X C V B B N M T * * otion command command option Executive Summary Risk Identification Natural disasters, strikes, sanctions, fires or insolvencies- the causes of supply disruption are numerous, Global Ization is making supply chains susceptible to disruption regulations are evolving and the hyper-connected world means your brand is only one imprudent supplier away from harm. Together, these forces expose your company to critical threats: contractual penalties, production standstills, drops in sales and reputational damage. The first phase of the risk management lifecycle is risk identification After all, the only way to address risk is to make sure you know about it the first place. So your first step is to establish risk profile for all elements of your supply chain, and then enact active monitoring to keep these profiles up to date Remember, active montering in sy to this on mitten inberting of a supplier, for sample, simply not enough. Ormances and your work identification must account for that. At methods, we employecember mification practions are as sophisticated as they can. Check out tur vitamme That's the problem. Now what do you do? 1 2 3 Devel pretera y tomater event sur Decide how to measure nike identify which elements of your supply chain to manner caturing risk data The answer Employ a comprehensive supply chain risk management program that will help you secure Supplier relationships bottlenecks and ensure your company is operating both legally and ethically. To do that you have to first understand the three phases of the risk management lifecycle: identification, assessment and mitigation. In this beginner's guide to supply chain risk management, we'll walk you through what each of these phases means for your supply chain, Late dive into a bit more about the 09 Arakan mant LOX the faced by a de pro wythm for en Am Identify What to Monitor Capture Data There are three main challenges when it comes to capturing risk data volume, relevance and standardization A criticalitial step in risk identification is to determine which segments of your supply chain and how many sub-ters to actively monitor as part of your risk management program Typically, our customers consider the following parameters to ald in their prioritization purchasing volume, effect on sales, scarcity, technology and patents, ownership structures, custom requirements and geography, Ata minimum, ris methods recommends including alltier 1 dvect material suppliers but urges you to quickly expand beyond tier 1. According to the Business Continuity Institute, the majority of supply disruptions occur below tier which shows that it is essential to map and monitor alltiers of your supply chain. Besides sub-tiers, It is equally important to capture supply path and structures, these include critical logistics hubsports, airports and bottleneck repons such as Rotterdam and the Sun Canal) as well as internal production sites and distribution centers The primary challengin performing constant monitoring of risk-which is absolutely necessary for a truly comprehensive suppy chain risk management propam-s the overwhelming volume of data that has to be sited through Insent of talent supply chain risk requires information from numerous third party source overment is, social med and news outlets. The same applies to ongoing risk mannring on are time basis for ad hoc identification of new and emerging threats. High automation of data capture and data updates on a global scales therefore indispensable and should be a requirement when setting up chain risk mapement Finitut you can andando your data in my word nie. that reason financial 1. A D earthquest profectue de based on the range on the Mercase of MM X politby Gobind Score na scale om to the need to This is where that eaty to understand andere for en nomedunk below Decide How to Measure Risk use risk management to yield synergies in many different business processes So you de deoded what to measure...now you have to decide how to measure It To do this, a company specific risk assessment methodology must be defined. A risk scorecard that encompasses all of the important key risk indicators, their importance and their scoring is the first step if you're creating a risk scorecard completely from scratch is a complicated process that involves a lot of variables Altsthods. we've done the heavy lifting for you. O comprehensive scorecard--powered by RK Intelligence-works out of the box, but is also fully customizable so you can define what is appropriate for your organization In addition to volume, relevance is a factor the leting logic for your risk og shoulder nose from actuar This is a critical part of the programas tauty information or midged leting of the business will cause the SCRM inato quickly lose momentum At tha drese the key data care alene by one Rosincere send that ce to other to your supply change comprehension des to pre ou say to understand picture ofensichan To facilitate definition and classification of individual risks, it is useful to create clusters by top, such as economic sanity of the suppliers, supply disruption risk market and cost risk. Image and compliance risk or quality and performance risk. Here it is important to take into account not only the supplier perspective solvency CSR conformity, etc but also location is such as natural daters. strikes and acodents at tes or logistics tubs- which can ofn affect several suppliers at once. This is scorecard is useful for many Integrated business processes for example to integrate risk information into procurement processes such as contract award decisions or supplier onboarding This makes it possible to What's a risk scorecard? Arick scorecard is a key tool for assessing the risk profile of an organization or asset it gives you an easy-to-understand snapshot of the current risks of an asset using anestashed numerical scale, so that you can always been on top of where yourses impact Check That Probe Impact Assessment Identify Key Parameters to Assess Identification and proactive monitoring of supply chain risk is the foundation for a comprehensive SCRM program, but alone is not a complete solution for risk management in the initiation phase, the morphan the questions regarding them to the entire order Typicy in the top having between three and parameters rides dependence in the supply chain, Forseti The second essential element of an SCRM program is to assess the impact of potential scenarios. In most cases, determining critically related to a specific product group oranide it so indispensable. The focus gained through an impact assessment enables adequate and target measures to be implemented when a crisis occurs. To make sure you have an accurater understanding of risk impact on your organisation, there are few steps you have to accomplish Total time to recover (ITA) Degree of tably or velocatie Impact on corporate Possible tonal parameters for desde evenimente 1 2. 3 Number of qualified to Number of customers acid Costs for corrective marketing and les activities Identify key parameters to Create a general assessment ass Create a complete inwentary of all your suppliers and risk objects Let's dive into a bit more detail about each of these steps The financial impact of a suolydorpion can hoy mari EBITere the procurement may need to the of thinking as the correlation between the spread the damage may be low in a supoly dation, and and volume best Indicator of impact it is therefore importante na predmet financulevation Complete a Risk Object Inventory To understand the potential impact of risk to your organization, you must consider all business partners--this is the only way to ensure complete transparency with respect to the critically of the entire portfolio. This includes not only suppliers, but additional dimensions such as location countries and logistics huts. These parameters can impact availability and the degree of substitutability Once your assent come you should be stretch med and lower which will you make more a times. Por ema, em cronobe could taba while longer the sun case of suppliers that serve different propter specific producerades word. The www ricevers to the individual produced by supplier wird wormation with suppliers or producten When it comes to inventorying your suppliers, we strongly recommend not carrying out a selection according to strategically important suppliers of suppliers with high purchasing volumes C-part suppliers, whose parts may be found in several products, can present a high ris. A sady done by the Massachusetts Institute of Technology, in collaboration with Ford, demonsthis point the highest risk actually orginates from low cost component suppliers presenting only of purchasing volume. In addition, we recommend that the suppliers de induced in the matt assessment Supplier portfolios previously assumed to be low riskan suadenly have a degre of criticality when looking at the sub-tier levels. The relationships among suppliers in the structure can reveal a network that is effectively in a single sourcescenario-your chain very vulnerable to ask event Create a General Risk Assessment Risk Mitigation The results of your assessment, combined with the results of risk identification, can be used to form a general risk assessment (see figure). The color of the fields (red, yellow, green) represent the level of risk and impact The objects in the red area must be given priority in terms of monitoring Furthermore, it should be noted that the size of the objects reflects the total extent of loss or damage. The larger the object, the higher the potential financial loss in terms of sales or profit of the company. Both the positioning and size of the objects are the basis for planning risk actions Monitoring and assessing supply chain risk form the foundation of a comprehensive SCRM program, but without mogation you are relegated to the role of a spectator unprepared to react to a risk event to complete the SCAM process and minimize the effects of a risk event a set of preapproved preventive and reactive measures are necessary. These steps provide the basis for addressing risk in a proactive manner using appropriate measures to ensure long-term success To this catalog of preeman arreste created and described. For this to the individual content to risk factors for example, natural poco con and stres. You can see this one step further and party To ensure fast response in art event, we commend describing the process be followed for each action animally pretification regarding or support should be added to the destino emple logistics experts, or brokers in the other supportinin impact/ Criticality Once a risk event cours, you can use your action planta decide to the Depending on whether the level of impact is a worth be chosen Let's tale sample Considera caewoo ans with a highearn what should your month low impact may be resonable to decide that the mounting their it is accepted in this case, no need between her hand you may want to define some actions for the taking out contingent business intern Threat/ Probability of impact assessment sounds a little complicated that's because it can be. However, there are ways to automate the process. Attis methods, we've developed a system that lows you to generate impact scores for all your suppliers and then compare a supplier's risk score and impact scoreto understand where your supply network is most vulnerable. To implement action planning and to by top-level management is impertinentes as well as the maio implementing preventive action planningsmass Many companies are needing track with the moment, allocate most of the budget andere gere program. Conseguit and that there should be Nement and management Autres super actually have a rating tect Risk mation, but the fonts of the way predefined con plante place where that we make up the plans in place and them whency, Automat parece of attivities for compliance Conclusion Readers Also Liked Comprehensive SCRM programs have traditionally been relegated to only the largest of enterprises. This is due to many factors, including the cost and complexity of quality, a lack of informed data to feed the program, a lack of organizational buy-in and a dearth of knowledge about what to measure and how. However, as the complexity of supply chains and regulations continues to grow, it is no longer enable to ignore Supply chain risk management The Recipe for Successful SCRM The good news is that technology like Al machine learning and easy to use software has changed the supply chain risk management game. The days of simply holding inventory as primary risk reduction approach which is quite costly over with the right technology solution a comprehensive SCRM program is now available to all organizations, large and small ay to get a your own SCRM Then this is the next you want to check out to about the you need to launch col suppy chain risk manage read now Do you have questions about the supply chain risk mitigation lifecycle, or do you want to learn more about how riskmethods can help you automate and manage all of these processes? Don't hesitate to contact us request a demo--or just spend some more time browsing the additional SCRM resources and Moking the Cose for SCRM Need to build abuse Can for SIM your orion This will walk you through the steps the process Check out our business winstorming the town radno tools on our site The SCRM ROI Calculator Sed U to about dew