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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".
The terrorist attacks of 9/11 were the defining event for modern supply chain security. Before 9/11 supply chain security was primarily the concern of the insurance and risk management industries; after the attacks more structured approaches were implemented. Early efforts were dominated by concerns over the use of maritime shipping to deliver ...
To overcome these challenges, companies mitigate supply chain interruptions and reduce risk with strategies and tactics that address supplier-centric risk at multiple stages in the relationship: On boarding: Bringing suppliers into the operation with registration that includes: A centralized supplier registration portal
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 ...
Digital supply chain security refers to efforts to enhance cyber security within the supply chain.It is a subset of supply chain security and is focused on the management of cyber security requirements for information technology systems, software and networks, which are driven by threats such as cyber-terrorism, malware, data theft and the advanced persistent threat (APT).
ISO 28000:2022, Security and resilience – Security management systems – Requirements, is a management system standard published by International Organization for Standardization (ISO) that specifies requirements for a security management system including aspects relevant to the supply chain.
Outsourcing risks involve the impact of third-party service providers on the system. [14] External risks are factors beyond the information system's control that can impact the system's security. Strategic risks are associated with the need for information system functions to align with the business strategy that the system supports. [15]
Operating and managing a global supply chain comes with several risks. These risks can be divided into two main categories: supply-side risk and demand side risk. [4] Supply-side risk is a category that includes risks accompanied by the availability of raw materials which effects the ability of the company to satisfy customer demands. [4]