Managing Risk in the Supply Chain Dissertation Example For Download

Global supply chains are often vulnerable to serious disruptions which accrue from risks that occur within the supply chain as well as risks that occur in the external environment of the supply chain. Over the recent years, there has been a paradigm shift from the initial ‘local-for-local' manufacturing practices into offshore sourcing and lean practices, hence, the development of global supply chains. Although it is difficult to mitigate external risks such as natural calamities, it is possible to mitigate internal risks through business modeling and cost management (Stevens & Johnson, 2016). The first step in managing risk in the global supply chain is the identification of the risk profile; which seeks to identify the points in the chain where there is a high likelihood of vulnerability as well as a high probability of disruption. The risk profile is established through a keen audit of the company's supply risk, demand risk, process risk, control risk, and the environmental ri...

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