Supply Chain Risk Webinar – Recording Available Now

If you missed our webinar a couple of weeks back, you can still access it here and listen to Heiko Schwarz (co-founder of risk management solution provider riskmethods) and I talking about supply chain risk – how to manage the unavoidable risks that lie in every supply chain of any complexity. "How to Prevent Avoidable Risk & Mitigate the Unavoidable" was the precise title.

Unavoidable risks come in all shapes and sizes, from the danger of a new Spanish Civil War (who saw that coming until very recently?), to an explosion in a key supplier’s factory. But that doesn’t mean you can’t do something about managing such risks, and being better prepared just in case they do become real issues for your organisation.

That process starts with understanding your supply chain of course; knowing who your key suppliers are, where they are based, their corporate relationships and so on. That enables evaluation of both individual firms, as well as category or business unit portfolio analysis of risk. The next step is to develop risk plans and approaches; looking at whether you want to avoid, reduce, share or accept the risk (that is the classic categorisation within risk management theory).

Then one aspect we talked about quite a lot during the webinar is being ready and able to respond when risks are actually triggered – when they turn into issues. It is fine having brilliant plans but, for instance, if you don’t find out quickly that there even is an issue, then it may be too late to successfully implement that plan. Or your competitors might be able to take action first and gain advantage.

And how confident are you that your suppliers will tell you if they have had a fire in their factory? Or if there is an emerging labour dispute that might end up in a strike next month? Because they may well not. That’s where risk alerts and intelligence come in as invaluable prompts for buyers – and that is of course why the riskmethods platform has been so successful in recent years.

Anyway, there is lots more packed into our 35-minute webinar. We answered a couple of questions too – including “how can you make it more likely that a supplier will tell you what is going on in their business”? That was a good one, so if you want to hear our answer to that, and listen to the whole webinar, you can do so here, free on registration.

PS You get to hear my supply chain risk joke too!

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