Managing supply chain risks: Complete guide

Hello,

Here is the reality...

In the quest to lower production cost Supply chains are becoming more complex!

You are probably using a phone designed by an American company with components manufactured somewhere in Asia or enjoying coffee or tea grown somewhere in Colombia or Africa

The idea is simple, a business needs input which are turned into products that are then sold.

BUT the inputs have to be supplied, hence upstream and downstream operations, in short suppliers and their suppliers as well as buyers and their buyers

All of these just point to why managing supply chain risks is important!

Because if something goes wrong the effects can be properly expensive

Toyota having issues with supply of semiconductors, Apple having supply issues since they rely on China and Taiwan and you know the US-China tension ...

In fact, things like... The Red Sea crisis, ongoing Russia-Ukraine war, Iran seizing an Israeli cargo ship, increasing tension over Taiwan, US-imposed tariffs on China imports...

All these things end up affecting your business if you are dealing with supplier in those areas

In this course you are going to learn how to manage supply chain risks

The course has 3 broad goals that is, Understanding the nature of risk affecting supply chains

In this case you will be able to

1. Understand different types of risk that can impact on supply chains

2. Assess operational risks in supply chains

3. Compare methods for eliminating bribery, corruption and fraud in supply chains

4. Contrast risks in supply chains that can impact on organisational corporate social responsibility

The second goal is for you to Understand processes in managing risk in supply

Chains, and this means being in position to

1. Examine the use of contractual remedies for managing risks in supply chains

2. Analyse the use of outsourced third parties in risk management in supply chains

3. Assess the use of insurances for protection against risks in supply chains

4. Examine the use of contingency plans to overcome risks in supply chains

And finally, you should be able to put all these in practice by Understanding risk mitigation strategies in supply chains. In this case, you will be able to

1. Identify the use of probability and impact assessments to manage risks in supply chains

2. Analyse a risk assessment and a risk register to mitigate risks in a supply chain

3. Explain the development of a risk management culture and strategy to improve supply chains

4. Compare strategic approaches to mitigate risks in supply chains

All these and practice exercises since its all about learning by doing ...and if at any point you have a question just ask

So, lets get started!