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Ford Takes New Approach to Supplier Risk Management

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Both general trends and a series of recent events have more and more companies concerned with supply chain risk management.

 Research has shown the impact of supply chain disruptions on a company's share price,market share and/or brand image, for example.

In addition, a series of natural disasters and events, most notably the 2011 earthquake and tsunami in Japan that seriously hampered production at Toyota for months and impacted much of the rest of the global automotive supply chain as well, forced many companies to realize they had major risks in their supply chain of which they were not even aware, let alone had plans on how to mitigate those risks.

Major flooding in Thailand that seriously impacted the high tech supply chain, a volcano in Iceland that caused problems for hundreds or thousands of countries, turmoil in parts of the Middle East - all these and more focused companies on the need for better and deeper risk management strategies.

But there major challenges. How can companies mitigate risks such as natural disasters, or factory damage that simply cannot be predicted or modeled - the "unknown unknowns?"..Read more on SC Digest

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