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Your supply chain is costing you money – Reason #5 Not having a supply chain risk management process

Kinaxis

by John Westerveld Reason #5: Not having a supply chain risk management process. Over the years, working for and with numerous manufacturing companies, I’ve seen many supply chain practices that cost companies money. These are the types of issues that impact supply for an entire region.

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Innovative Approaches to Supply Chain Risk

Kinaxis

You have a supply chain risk management strategy in place. This scenario played out for thousands of companies after the Japan earthquake, the Thailand floods and numerous other smaller scale disasters. The problem is most companies are relatively immature when it comes to Supply Chain Risk Management.

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Resilinc study: fire risks grow while easy mitigations are often ignored

Resilinc

This was followed by the March 2021 Renesas fire, also in Japan, that faced a four-month time to recovery. Mitigating fire risks requires a four-pronged approach to supply chain risk management: Multi-tier mapping. Supplier risk assessment. Risk monitoring.

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Reputation Risk in the Supply Chain

SCM Research

Most importantly for us, the report contains some interesting examples of reputation risk in the supply chain. I believe that reputation risk inherent in the supply chain, as discussed in the report, is an often overlooked aspect of supply chain risk management.

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This Week in Logistics News (July 3-7, 2017)

Talking Logistics

But before I bring out the lawn mower and tool box, here’s the supply chain and logistics news that caught my attention this week: Mondelez Says Cyberattack Cost it Business (WSJ – sub. Amazon Japan challenged by glitches in delivery services (Nikkei Asian Review). Source: Walmart.

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Supply Chain Impacts from Russia-Ukraine Conflict

Logistics Viewpoints

Although there is no evidence that the cyber attack was related to the Russia-Ukraine conflict, it did occur just after Japan announced that it would block some Russian banks from accessing the SWIFT international payment system.

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10 Ins and Outs for Supply Chain Risk Management in 2024

Resilinc

Learn the best practices for supply chain risk management in 2024 from Resilinc, the gold standard for supply chain resiliency. As risk managers audit their vendors and programs at the start of the year, it’s also time to clean up old strategies and supply chain practices.