Supply Chain Risk Management (SCRM) is the process of identifying, assessing, and mitigating the risks to the integrity, trustworthiness, and authenticity of products and services within the supply chain.
How to establish supply chain risk management process?
Know and Manage Critical Suppliers
Closely Collaborate with Key Suppliers
Include Key Suppliers in Resilience and
Assess and Monitor the Supplier Relationship
How can Supply Chain Security be improved?
Know your suppliers and look upstream as well as downstream.
Start with your tier-one suppliers and then identify tier-twos.
Take a complete inventory of your business and identify weak links.
Conduct a risk assessment.
Utilize third-party testing
What Are the Benefits of Supply Chain Risk Management Software?
Supply chain management tools help you track and maintain your supply chain sustainability. These tools can make order intake, shipping, ordering supplies, and taking inventory much more efficient.
What happens if I don't follow Supply Chain Security?
If your company's supply chain is not secure, it can leave you vulnerable to cyber-attacks and data breaches, compromising your operations and putting your customers' information at risk.