From the course: Supply Chain Foundations: Risk and Resilience

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Identify supply chain risks

Identify supply chain risks

From the course: Supply Chain Foundations: Risk and Resilience

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Identify supply chain risks

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- Every day as individuals, we identify risks. If we're driving a car, we are on the lookout for risks, things that may cause us not to get to our destination. This could be the risk from other motorists, the weather or traffic congestion. With supply chains we also need to identify risks. We need to recognize and describe those things that may stop our supply chain from achieving its objective. The objective is often to serve our customers, and these customers could be other businesses, or in a humanitarian supply chain they could even be individuals or communities who need resources after a natural disaster. The risk could have a variety of tangible consequences, things that are obvious and easy to measure like a delayed vehicle, but they can also have intangible consequences. Those things harder to measure such as a cyber attack on the supply chain where important information is corrupted. To identify risks within the…

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