Guest Blog: Supply Chain Risks… Big or Small, Prepare For Them All

March 9, 2015

By Meranda Powers. Originally published on the Kinaxis industry blog, 21st Century Supply Chain.

tight rope

I suspect that few folks in the supply chain management world would argue with the fact that supply chain management is risky business.

The reality is that risk comes in many forms (including anticipated risk, uncontrollable risk, and unanticipated risk). It’s constantly changing. And the amount of risk being faced by supply chain professionals has been on the rise for the past 20 years.

When we talk risk, we’re not just talking about headline-making tsunamis, floods, and earthquakes. We’re talking everyday risks as well. (Some might even argue that risk in daily business activities and decision making can be just as, if not more, impactful than exceptional risk events.) Ensuring success in “normal” operating conditions and when faced with catastrophic supply chain disruptions is why developing risk management strategies should be a top priority.

Regardless of the type of risk or where it’s coming from, you need to be prepared. While it may be tempting to try to define specific response plans for every potential risk your supply chain might encounter, that would be difficult to achieve. Instead, it’s really about taking a proactive approach that ensures you are prepared to recognize, assess and respond to any disruption that comes your way. Putting plans, processes, enabling tools and technology in place will help you improve reaction times and decrease the overall impact of any disruption.

We wanted to share this infographic (see below) that looks not only at the types, drivers, and impact of risk, but also discusses the competencies needed to react to a disruptive event and the advantages that a focus on risk management can bring your organization.

kinaxis supply chain risks infographic

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

You might also like…

5 Supply Chain Management Myths and the Truth Behind Them

5 Supply Chain Management Myths and the Truth Behind Them

Like any other industry, supply chain management comes with its own myths and misconceptions that can easily mislead many businesses. This is especially true when people try to seek out the best way to optimize their supply chains – only to actually be slowly sabotaging them and making them more inefficient than they should be when they fail to do ample research.

read more

Sign up for Argentus’ Market Watch newsletter

It only takes a moment. You’ll receive low-volume, high-impact market insights from the top specialty Supply Chain recruiters including: Salary Information, Supply Chain industry trends, Market Intelligence, personal branding tips and more.