The Supply Chain Risk Management Essay

Supply Chain Opportunity in an Uncertain Economic Recovery, by Eric G. Olson, discusses the advantages the supply chain has in a struggling economic recovery, when most other companies are dealing with uncertainty. The authors’ intention contained in this article is to discuss opportunities that businesses have to grow their operations despite coming out of a severe recession. The author identifies to take advantage of these opportunity, companies must be willing to be more flexible and that scalability is much easier to implement coming out of a severe recession. The author provides a design, methodology, and approach to implement these changes, highlighting the scalability and flexibility benefits, mitigation if multiple risks, identification supply chain opportunities.

Supply Chain Management: An International Journal, Volume 7, Number 5, 2002, pp. 271 – 282;

The supply chain management is considered as a management concept from past two decades as the customers are concerned about timely and safe delivery. The competitiveness has been increasing among the companies to deliver the products as quickly as possible to the customers all around the world. This has made the supply chain management as a vital tool for the management. This is also measured as a competitive parameter for the companies.

Risk management is a critical component to the success of any supply chain, yet this is still an area that sees little forward movement. In many organizations, risk management is viewed more as a reactive department, only becoming operational when a significant disruption arises in contrast to being an active and continual department with focused effort. As a supply chain moves to take on a global stance, risk management cannot be treated as a reactive measure. Global supply chains are exposed to greater risk than local/domestic supply chains as their linkage is more

Supply chain management is a practice that involves the planning, supervision, and implementation of strategies and controls to direct the movement of goods and services provided to customers. The intent of this essay is to incorporate a synopsis of existing literature and to provide the reader with a general understanding of how supply chain management correlates with the organizational design and structure of modern firms. The essay comprehensively reviews the components of supply chain management and their integration with functional areas within an organization. The information presented in this essay

A Customized Textbook, Supply Chain Management SCHM2301, ISBN9781308037400 Copies are on reserve in the library

IBM, (2008). Supply Chain Risk Management: Management A Delicate Balancing Act - IBM Global Business Services A multi-faceted view on managing risk in a global

insightful, for the purposes of this text, we will use supply chain management as the

resource-based perspective of supply chain resilience and robustness. Journal of Supply Chain Management, 50(3), 55-73. Retrieved from Business Source Complete Database.

Hence, Sheffi concludes that Wal-Mart supply chain risk management could be seen as one of the best among the retail (Sheffi, 2015). Wal-Mart understood that, fundamental of resilience is its ability to take control of disruption and recovery from it. In order for this to happen, the company’s disaster recovery plan includes Emergency Operations Centre (EOC) that has four activation levels. What made Wal-Mart so resilient is the company’s supply chain resilience which is the operational ability that enables a disrupted supply chain to reconstruct itself and bounce back into operation even stronger than before (Brusset, X & C. Teller,

(Handfield, 2007) Code C should cultivate supply chain strategies that plainly deliberate two parameters that “intensify” the negative influence of interruptions on customer and brand performance: globalization and product/process complexity. Second, Code C should plan strategies with countermeasures that diminish the impact of these things, that is: better visibility to strategic supply chain nodes that can rapidly identify disruptions. They should also have well-positioned resources that allow rapid short-range retrieval plans. They need to have in place long-range cooperative methods to remove disruptions in the future. Research also recommends that companies with a great exposure to global supply chain risk invest more in improved inventory and capacity visibility

Supply chains represent the procurement, production and distribution activities of an organisation. Within a supply chain, these activities are viewed as linked and reliant on one another to produce the final outcome. It is believed that if one component of the chain fails, the whole chain is broken and product/service delivery goals will not be achieved.

Every day businesses face the challenge of being exposed to potential risks. Whether these risks are internal to the company financially, damaged caused to the interior or exterior of the building itself, or lawsuits due to liability losses, businesses have a responsibility to be prepared. There are numerous ways for businesses to protect themselves from possible risks resulting from a loss. Risks may also vary depending on the type of business and operations it conducts. Not all companies will be faced with the same challenges of protection for losses, which is why it is important to consider a risk management process. Risk management is the identification, assessment, and prioritization of risks, followed by coordinated and economical

“Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.” The literature review used in this paper is focused on supply chain management and risk management though the business side of the

Over the years, the competition landscape for most companies has shifted from the highest-quality, lowest priced product or best performing product to the ability to respond to market needs quickly and get the right product at the right time to the right customer. This has in turn forced organizations to compete with their supply chain. Understanding supply chain management and putting this knowledge into practice has become a mandate to improve supply chain relationships in the entire world.