The Importance of a Thorough, Well-Managed Supply Chain Risk Strategy

 

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In April 2013, APQC conducted a survey of supply chain and finance professionals to gain insight into how they view and address three specific causes of supply chain disruption:

  • high-impact natural disasters (such as tsunamis and earthquakes),
  • extreme weather events, and
  • political turmoil in vitally important world regions.

APQC found that many organizations conduct infrequent assessments of disruption risk for their supply chains, and that many organizations conduct infrequent or no risk assessments of suppliers that are strategic to the business. The survey results also indicate that among organizations that conduct formal risk assessments of their strategic or preferred suppliers, there is room for improvement on the amount that they spend to assess supply chain risk.

This article first appeared in the September/October 2013 issue of Supply Chain Management Review.

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