The 5 types of supply chain risk
Editor's Note: This article is part of a spotlight series on supply chain risk management. Click on the numbered headings below to read more about each type of risk.
Supply chain risk is everywhere, waiting to cause the next million-dollar disruption.
It could come from an earthquake in Japan, a hacker in Ukraine, or even from a disgruntled employee or former partner. It could come at any time, too — so supply chain managers must always be prepared.
Disaster can strike at any stage or level of the supply chain, so responsibility extends to logistics and procurement professionals. It takes a village to ensure supply chain resilience.
Today's risks are so diverse, it can be tough to prioritize. In this spotlight series, Supply Chain Dive identified five types of supply chain risk, and some practical tips for mitigating them.
Cyber crime costs will exceed $5 billion by the end of 2017, which means companies need to start evaluating and confronting cyber risk at every level of their supply chains. Read More >>
Keeping up to date with data and paying attention to economic and business trends are just a few ways to mitigate financial risk in your supply chain. Read More >>
Labor is the backbone of every supply chain, but it doesn't come without risk. Read More >>
Companies should acknowledge that in the case of natural disaster, there is often no quick turnaround, but there are strategies to recover efficiently. Read More >>
Political risk is the new normal as regulatory changes, both foreign and domestic, challenge global supply chains. Read More >>
- Supply Chain Dive Supply chain toolkit: How managers prepare for the next crisis
Follow Edwin Lopez on Twitter