What is Supply Chain Risk Management? Supply Chain Risk Management (SCRM) is the process of identifying, assessing, and mitigating the risks of an organisation’s supply chain. Implementing global supply chain risk management strategies can help an enterprise operate more efficiently, reduce costs, and enhance customer service. Supply Chain Risk Management Explained Supply chain management refers to how organisations manage the flow of their goods, including all the processes involved in transforming raw materials the organisation consumes into finished products or services the organisation offers. It includes planning and managing, sourcing, procurement, conversion, and logistics. One primary reason that companies implement a global supply chain management strategy is to boost their competitive advantage. That said, the globalisation of supply chains can also increase the potential risks to quality, safety, business continuity, and reputation. Q.3.1 Masodi Organics has a warehouse located in Joburg CBD, and given the latest challenge of illegal occupation and health and safety issues being experienced in that area, analyse any four (4) internal warehousing and inventory risks that could potentially impact the operations of Masodi Organics. Note: you are required to provide a paraphrased overview of each type of risk before providing a practical example for each. Q.3.2 Analyse any four (4) best practices that can be implemented by Masodi Organics to mitigate warehousing and inventory risk. Note: you are required to provide a paraphrased overview of each strategy before providing a practical example for each.
What is Supply Chain Risk Management?
Supply Chain Risk Management (SCRM) is the process of identifying, assessing, and mitigating the risks of an organisation’s supply chain. Implementing global supply chain risk management strategies can help an enterprise operate more efficiently, reduce costs, and enhance customer service.
Supply Chain Risk Management Explained
That said, the globalisation of supply chains can also increase the potential risks to quality, safety, business continuity, and reputation.
Q.3.1 Masodi Organics has a warehouse located in Joburg CBD, and given the latest challenge of illegal occupation and health and safety issues being experienced in that area, analyse any four (4) internal warehousing and inventory risks that could potentially impact the operations of Masodi Organics.
Note: you are required to provide a paraphrased overview of each type of risk before providing a practical example for each.
Q.3.2 Analyse any four (4) best practices that can be implemented by Masodi Organics to mitigate warehousing and inventory risk.
Note: you are required to provide a paraphrased overview of each strategy before providing a practical example for each.
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