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At every stage in the process – developing a sourcing and supply-chain strategy,
selecting suppliers and partners, managing established relationships and
processes, or even discontinuing a relationship or process – risks need to be
acknowledged and effectively managed. Supply Chains need to make an inventory of
these key risks; to evaluate their potential impact, using established and
tested risk-quantification tools; and to assess the likelihood of their
occurrence.
One of the most challenging aspects of supply-chain risk management is
ensuring the proper implementation and continued application of an effective
risk-control framework – procedures, training, monitoring and reporting.
Companies that have identified their key risks and defined the appropriate
responses require adequate capabilities and the organizational discipline to
implement the risk- control framework effectively. If you need to look at the
risk your supply chain represents, then
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