Good Afternoon everyon2
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Purdue Global University *
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MISC
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Information Systems
Date
Nov 24, 2024
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docx
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Uploaded by DoctorRatMaster132
Good Afternoon everyone,
Supply Chain Risk Management has become a growing
priority to organizations in recent years because businesses
want to protect their investment and maximize a profit to its
fullest potential. After reading some of the horror stories
about risks in today's supply chain, it makes sense to me
why it is gaining traction with corporations and
manufacturers alike. SCRM allows a company to become
aware of possible risks, prevent loss for the company, and it
provides a proactive rather than a reactive approach.
It is extremely beneficial for an organization to be aware of
possible risks. A good way to raise awareness is to identify
risks that have the potential to become a Risk Event. Risk
events are everyday actions or behaviors that have a
potential risk, such as, a truck driver hauling goods
overnight in inclement weather. This risk could develop into
a risk event if the driver loses control and the truck and
goods are damaged, halting the delivery. By using Risk
Exposure and Vulnerability, an organization has better
potential to not allow this risk event to stop the supply chain
because it identifies possible outcomes and forces solutions.
Risk Analysis helps an organization be proactive rather than
reactive with risks and helps a company evaluate risks that
have been identified. It is a necessary risk concept in order
to create a Risk Response Plan. This is similar to an
emergency response plan for the supply chain world in my
opinion and is necessary to be a proactive organization that
practices risk concepts and approaches.
Exercising preventive actions in SCRM should result in loss
prevention for a company. Risk Prevention is a good
example of a risk approach used to prevent loss. Focusing
on prevention rather than avoidance sums up this approach
and ties into my other points. I have learned from the text
reading is that SCRM is simply a form of problem solving.
Identify the problem, analyze possible solutions, share
information, and produce a proactive plan for the
organization to prevent the identified problems. I look
forward to reading my fellow classmates point of views and
hope everyone has a great week.
Jeff Cotton
Reference:
Schlegel, Gregory L., and Robert J. Trent. Supply Chain Risk Management : An Emerging
Discipline, Taylor & Francis Group, 2014.
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