Risk is one of the biggest concerns associated with supply chain management (SCM). As the demand for more complex products increases, so does the need for heightened security. To manage a global supply chain effectively, organizations need an efficient, agile approach to supply chain risk management.
Prevention is the first of three main components of supply chain risk management (SCRM). According to Ferrari, businesses need to identify and create awareness of potential sources of risk. Quantifying impact and developing a response are the other main contributors to effective SCRM. Ferrari outlines strategies to consider, includingeducating senior management about risks to their global supply chains.
Consult this webcast to learn more about the "new normal" of SCM. What risk factors of SCM are you overlooking? According to Ferrari, by leveraging structured transactional, predictive and unstructured team-based information sources, targeting risk becomes plausible.