What are the risks in my supply chain?
Posted on 24th July 2018 at 08:58
Risk is a strategic issue. Managing risks should be something that is embraced by top level management and immersed in the culture of the organisation. Past experiences should be used to learn lessons about how to minimise misfortunes and maximise opportunities in the future.
But how do you identify your risks? And which ones should you focus on?
Your supply chain is not just external to your company. It isn't just about getting raw materials to your Goods Inwards door. If your stock accuracy is poor then you need to make sure that you assess the risks internally as well as those that might affect supply externally.
Taking time to look at your micro environment (internally to your company and able to be affected directly by you) and your macro environment (externally and will need mitigation strategies) means that you are then able to systematically go through each risk and assess them based upon the likelihood of occurrence and the impact to your business should it occur. This will then drive decisions on how to mitigate these risks as well as highlighting potential interconnected risks.
Pro-Outsourcing are able to provide project support to help identify risks within supply chains as well as implement risk mitigation strategies and steps to help employees to see risks before they turn into business affecting problems.
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