Unavoidable Supply Chain Risk – Don’t Ignore it!

We’re involved in a webinar with risk management solution providers riskmethods next week - that’s at 4pm UK time on Thursday, October 12th. It’s titled Unavoidable Supply Chain Risk: How to Prevent Avoidable Risk & Mitigate the Unavoidable.

Supply chain risk is everywhere, all the time, and is relevant to every organisation that buys from other organisations. So that’s everybody, basically… But that very ubiquity can sometimes lead organisations to fall into the “it’s all just too difficult” trap. Some ignore it altogether, some will do the bare minimum to be able to say to bosses or shareholders that they are “doing something”. (Any large organisation that runs a supply chain risk register on a spreadsheet probably falls into this category.)

Just in recent weeks we have seen hurricanes and floods in parts of the world, while the latest chicken scandal in the UK, exposed by the Guardian newspaper and ITV, has brought reputational risk back into focus for many retailers. And what about Barcelona? Will the troubles there start making Spain or Catalonia a higher risk supply location?

Some risks are of course unavoidable. But that doesn’t mean that organisations should ignore risk management in those cases. Indeed, some of the most serious risks are unavoidable (weather-related events for instance) yet there are sensible actions that can be taken to mitigate and mange those risks.

Those actions include both what can be done at the planning stage – when we are considering the risk profile – and how we respond if a risk event actually occurs. Even when planning takes place, organisations are often not as diligent when it comes to really thinking about how they will respond if the worst comes to the worst. There are some very illuminating real-life stories that show the differences between firms that respond to these crises well and those who don’t.

So, these topics are our agenda for next week with risk management solutions provider riskmethods. I’ll be giving some views and proposing what I hope will be useful tips, and Heiko Schwarz, one of riskmethods’ co-founders will add some real-life stories – positive and negative – around the topic. We’ll take that into some discussion between the two of us then open that up into questions from the delegates.

The webinar will run for about 45 minutes and you can register here. Even if you can’t make that time, if you register you will be able to access the recording and slides later in your own time. See you then!

 

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