Risk Management in Supply Chain

Risk management in supply chain refers to identifying, assessing, and mitigating potential issues that could disrupt the flow of goods from suppliers to customers on a global scale. This includes managing risks such as natural disasters, political instability, supply shortages, and transportation delays. By analyzing these risks, companies can develop strategies to minimize their impact, ensuring efficient operations and timely deliveries. Effective risk management helps maintain customer trust, reduce costs, and improve overall supply chain resilience, allowing businesses to navigate the complexities of international logistics successfully.