“Organisations are always at risk for losses through cost volatility , supply disruption , noncompliance fines , and safety incidents that cause damage to their brand and reputation . Knowing what ’ s at stake is the first step to understanding , measuring , and managing risk in your supply chain ”
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— Avetta step to understanding , measuring , and managing risk in your supply chain .”
Risk management is still , in large part , a daily task , a culture ingrained in those who have learned better . But this we ask you to remember — although acting on instinct is good , a sound , robust risk mitigation plan that follows the fundamental principles of risk management is even better . For managers who are under pressure to increase sales and profits or to shave days off of “ time to market ”, risk management must not be allowed to be a fleeting or reactive thought .
As management teams select their control mechanisms , allocate resources , build their risk mitigation strategies , and design processes , they must do so with today ’ s realities at the forethought of their minds . supplychaindigital . com