Course Detail: SRM
Supplier Risk Management

Today's global supply chains are increasingly complex and disruptions are a common occurrence. A current example is the congestion that plagues many ports, resulting in shipment delays. The disruptions are driven by a variety of events, including labor disputes, customs delays, natural disasters and other incidents. Following the March 2011 tsunami and earthquake in Japan, supply chains worldwide felt the impact of this natural disaster, as Japanese manufactured exports worldwide dropped dramatically. The lessons to be learned from this natural disaster are still being analyzed by supply chain experts as a means of pre-empting further and future ramifications from such catastrophe. Risk comes in many forms and the key to insulating your supply chain against costly delays, or failures, can be found through various solutions and process changes. Instituting a collaborative mentality and consolidating data from your external systems results in the ability to buffer your operations from all major risk factors. When it comes to managing the various forms and degrees of sourcing risks, there are challenges. When we talk about risk, we are speaking about "disruption". These disruptions can be caused by everything from political unrest, to extreme weather, or simply a lack of communication between people/functions. You can't plan for every eventuality. This program is intended to show how to address the major weaknesses in a structured and practical way.

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