Examining the vulnerability of an organisation’s supply chain network can be used to identify such risks and weaknesses and produce mitigation strategies and corrective action plans as part of managing risk in procurement.
For the purposes of this paper Supply Chain Vulnerability (SCV) is a point of weakness and/or possible threat to the supply chain network. These complex networks may increase the number of potential weaknesses in surety of supply, as may the use of other modern business practices.
Return to Risk / Mitigation topic.
Whilst there are a number of BSI and ISO standards developed for business continuity, risk management and organisational resilience there is no global benchmark that can be used to test...
Find out more
Minimizing risk is crucial for anyone in charge of a complex system, and traditional approaches aren’t good enough (Sargut and McGrath)
Risk management ... should be about lessening the impact of what we don’t understand - not a futile attempt to develop sophisticated techniques and stories that perpetuate our illusions...