Supply Chain Risk Management

What is supply chain risk management?

Supply chain risk management is a structured approach to identifying and handling risks throughout your supply chain before they impact your business. The general process of risk management used by the Project Management Institute involves four primary steps: (1) identify risks, (2) determine probability and consequence, (3) handle risk, and (4) monitor and control. More advanced risk management approaches apply advanced quantitative analysis to these steps to increase the ability to identify and handle the risks before they become problems.

What are the benefits of supply chain risk management?

A supply chain risk management program helps your company identify and solve problems before they happen. The processes used in risk management not only help you identify potential disruptions in your supply chain, but also provide you with a way to prioritize and handle these risks in a manner that is most efficient for your company. Proactively handling risks not only can prevent problems from happening, but can give you an edge over your competitors if there is a disruption across the supply chain.

What can CIRAS do for my company?

CIRAS can work with your company to educate you on the fundamentals of supply chain risk management and facilitate the implementation of a supply chain risk management plan within your business.

What is my next step?

Contact these staff members to see what CIRAS can do for you.

Michael R. O'Donnell515-509-4379  modonnll@iastate.edu
Chris H. Hill515-313-8251  chhill@iastate.edu

 
 

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Last updated: 8/2/2013