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Supply-chain risk management is aimed at managing risks in complex and dynamic supply and demand networks. [1] (cf. Wieland/Wallenburg, 2011)Supply chain risk management (SCRM) is "the implementation of strategies to manage both everyday and exceptional risks along the supply chain based on continuous risk assessment with the objective of reducing vulnerability and ensuring continuity".
Business ethics operates on the premise, for example, that the ethical operation of a private business is possible—those who dispute that premise, such as libertarian socialists (who contend that "business ethics" is an oxymoron) do so by definition outside of the domain of business ethics proper.
Supplier risk management (SRM) is an evolving discipline in operations management for manufacturers, retailers, financial services companies and government agencies where an organization is dependent on suppliers to achieve business objectives.
Supply chain risk management (SCRM) aims at maintaining supply chain continuity in the event of scenarios or incidents which could interrupt normal business and hence profitability. Risks to the supply chain range from everyday to exceptional, including unpredictable natural events (such as tsunamis and pandemics ) to counterfeit products, and ...
A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.
A non-critical service provider – such as an air-conditioning contractor – operating in a country with low corruption risk may erroneously be considered a low risk. However, if that contractor has poor cyber-security and is able to submit invoices to a customer electronically across the customer's firewall, this may represent a high cyber ...
The Equator Principles is a risk management framework, adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. It is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making. [108]
Implementing a risk-ranking methodology to prioritize risks within and across functions. Establishing a risk committee and/or chief risk officer (CRO) to coordinate certain activities of the risk functions. Establishing ownership for particular risks and responses. Demonstrating the cost-benefit of the risk management effort.