You work as a Supply Chain Security Consultant and a new client, ABC Logistics, has asked you
Question:
You work as a Supply Chain Security Consultant and a new client, ABC Logistics, has asked you to design a supply chain security plan for their new 3PL business. ABC logistics company stores and ships high-risk cargo (such as pharmaceuticals), and they are concerned about cargo theft in their warehouse, terminal lot, and during transportation. Develop a risk assessment for ABC and propose one solution for mitigating and managing each risk. Q1. Give a brief imaginary overview of ABC's size, location, number and type of products, and details of their trucking fleet. Q2. Develop a risk assessment for ABC by identifying at least ten specific risks, then determine their likelihood and significance of consequences. Use the Risk Assessment Form to the right hand-side of the page to answer this question and make sure to refer to the RISK ASSESSMENT MATRIX sheet below. RISK ASSESSMENT FORM RISK LIKELIHOOD (1-5) CONSEQUENCE (A-E) RISK RATING ACTION Q3. Propose one solution for mitigating and managing each risk under Column L of the Risk Assessment Form. Q4. Considering that the plan will involve a lot of investment and your client has a limited budget, identify the 3 most important security areas that will bring the greatest results and explain why you chose them.