The degree of supply chain risk faced by manufacturers, distributors and retailers has risen dramatically in today’s global economy, where natural disasters, political turmoil, supplier shortages, and other unpredictable events can significantly disrupt a company if it is not prepared for them. And the peril of risk is only expected to grow as supply chains continue to become even more global, complex and collaborative.
Firms that take supply chain risk seriously are more likely to be successful and more likely to gain profitable market share if they have a plan in place that mitigates and possibly eliminates some of the risk factors in doing business. These companies are much more likely to be able to continue to scale their business through times of adversity or potential risk, and they’re more likely to be able to respond to unfavorable conditions such as volatile demand and other developments that could negatively impact their business.
In this new white paper, Supply Chain Edge explores the rise of supply chain risk, some of the types of risks companies can encounter, and why SMBs should consider supply chain risk one of the most critical executive and board issues.
SCE also discusses a five-step approach that small and midsize manufacturers and distributors can employ to help them identify the most prevalent and potentially damaging risks to their business, as well as prioritize and allocate the appropriate resources to mitigate them.
View the white paper on the Supply Chain Edge website: http://www.supplychainedge.com/