Risk Management For Supply Chain By Greg Van Wyk
As businesses become more and more reliant on global suppliers, the chain of custody processes (COCs) become increasingly important in risk management. It is crucial that companies understand their supply chain to ensure both safety and legal compliance when working with vendors from outside their immediate jurisdiction. Risk management for the supply chain involves proactive strategies to identify potential problems—such as disruptions in logistics services, cost rise associated with changing market conditions, recalls, or contamination—and create solutions so these issues can be quickly resolved and minimized before they result in costly mistakes or regulatory fines. In this blog post, Greg Van Wyk discusses what risk management entails for a modern organization’s ever-evolving supply chain network. Greg Van Wyk On Risk Management For Supply Chain Risk management for the supply chain is a critical element for businesses of all sizes, says Greg Van Wyk. Risk within the supply chain can take many forms and can arise from internal or external forces.… Read More »Risk Management For Supply Chain By Greg Van Wyk