What are the types of supply chain risk? In the supply chain, there is a four-phase process that leads to the final product. The first phase is called Planning which is an overview of the current situation in the supply chain. This stage involves analysis, a risk assessment, and a strategy to address the issues. The second phase is the execution or bringing into effect the strategies, and the third phase is monitoring and correcting the results of the previous phases. In some instances, there is no need for further activity in the demand driven supply chain planning phase, while in others, additional activities will be required.
What are the types of activities that should be included in the risk management plan? There are a number of these activities that must be included in any supply chain risk management plan. Some of these include identifying the risks that may exist in the supply chain, creating a control plan and evaluating and improving the performance of the risk management plan. However, there are some other considerations as well that must be made throughout the entire supply chain lifecycle.
How are the problems located? There are two types of supply chain risk that can occur: physical and information-related risks. The physical risk is considered to be failures or breakdowns in equipment or machinery. While the information related risk is considered to be errors or missing information that may affect the overall efficiency of the supply chain.
When are the problems found? Once the problems have been identified, they need to be analyzed in order to determine their cause. In most cases, these problems will only be found during the critical phase of the process. This phase, which includes development, production, shipping and receiving, is very critical and may require an in-depth study of each problem. Once all the data has been collected and analyzed, then it is necessary to determine how to fix the problems and what to do to avoid them in the future.
What are the solutions required? When you identify the problem, you will have a better understanding of the problems as well as the solution. In most cases, it will be necessary to develop new or updated equipment, training, manufacturing processes, etc. Therefore, the supply chain lifecycle needs to be reviewed and analyzed periodically to ensure that problems and potential obstacles are properly managed.
What are the types of supply chain risk? The major types of supply chain risk are: failure, interruption, and fraud. Each of these poses a particular risk to the business, but each may also be subdivided into smaller categories. For example, a failed computer system may result in the loss of emails, important documents, or data, which can affect the efficiency of the business. Similarly, an interruption in the process may be due to a hardware malfunction, human error, or a combination of both.
What are the solutions to these types of risk? To reduce the risk caused by these events, the supply chain must be monitored and analyzed. This includes not only hardware and software, but also the overall business practices. For example, it is necessary to develop quality systems for checking the flow of information, and the design of the processes. If there are flaws, they should be identified before they are allowed to propagate into production.
What are the types of supply chain lifecycle issues? Some of the more common ones include: the lack of quality control, where resources are misused, and where information sharing or audit mechanisms are insufficient. Other risks include compliance issues, which include the lack of adequate authorization to use certain supply chains, and the misplacement of assets.