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How to avoid risk in your global supply chain

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Supply chain events are increasingly showing up in business news, whether it’s regarding product shortages that cause customer dissatisfaction and lost opportunities for corporations, or breaches of laws or decency in the supply chain, such as the use of child labor or unsafe labor conditions that damage brand reputation.

 From an executive standpoint, risk management through the supply chain has become a mandate. Front page exposure creates tense board room discussions and often dramatic same-day fluctuations in share prices.

What changed? With the global economy came global markets and global suppliers. Second, third and fourth tier suppliers are often in different parts of the world, subject to different regulations, and multi-channel or omni-channel strategies add complexity. Each new supplier, each tier of suppliers and each tier of customers add a heightened level of risk and thus an increased requirement for risk and compliance management.

Corporations are simply not ready for this challenge. So what actions should supply chain executives take?..Read more on sbnonline

Last modified on Friday, 06 December 2013 12:16

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