Web Analytics
30.1 C
Saturday, July 2, 2022
HomeSupply ChainMitigating Key Supply Chain Risks and Disruptions

Mitigating Key Supply Chain Risks and Disruptions

Supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and eventually delivery to the end user. The key to an efficient supply chain is to make sure that the process runs as smoothly as possible. One needs to follow through each and every step of the process and make sure that things go efficiently and smoothly.

Risk and Vulnerability in Supply Chain

Supply chain risk can be described as the potential loss resulting from a variation in an expected supply chain outcome. It is the mismatch between supply and demand.

Supply chain risk is usually a result of inadequate spend visibility, lack of deep supplier and market information, poor inventory management, poor supplier collaboration, and inefficient coordination heightened by a lack of infrastructure, skills, resources, research, and technology as well as language and cultural barriers.

The full content is only visible to SIPMM members

Already a member? Please Login to continue reading.

Lee Huan Peng, DLM
Lee Huan Peng, DLM
Huan Peng has substantive years of experience in warehouse and logistics management, in particular the supply management of Fast Moving Consumer Goods (FMCGs). He is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). He is currently completing the course on Diploma in Logistics Management (DLM) at SIPMM Institute.

Most Read