THINKING AHEAD: MANAGING RISKS IN SUPPLY CHAINS

Abstract

Risk is the greatest worry that keeps supply chain managers awake at night.  The risk of failure is about a growing multitude of possibilities affecting suppliers and customers, locally and globally.  This article cites examples from well-known brands.  Security against disaster is the objective, through thinking ahead to put in place preventative and responsive capability to manage uncertainty.  Six risk management mistakes are explored.  Visibility & Responsiveness and Supplier Stability are two aspects of getting it right.  An important software package for this is Enterprise Resource Planning (ERP).