Supply Chain Risk Management: Identifying and Mitigating Challenges
/ By guillaumedocshipper / Guest Blogging/ • • • • / 0 Comments

Supply Chain Risk Management: Identifying risks and Challenges

Since the coronavirus pandemic triggered widespread shortages and delays, the global supply chain has been playing catch up. Geopolitical issues, such as the Ukraine conflict and rising tensions in the South China Sea, have compounded these woes. Furthermore, incidents like the Suez Canal blockage have highlighted the importance of building up supply chain resilience.

As per a 2023 Supply Chain Outlook report, 60% of small and medium-sized businesses reported losses of up to 15% or more in 2022. In 2021, nearly half of all small businesses reported to the US Chamber of Commerce that they struggled to keep up with customer demand.In the face of increasing labor shortages, fluctuating demand, and inventory issues in 2024 and beyond, businesses must do more to maintain a more resilient supply chain. 

It is vital to identify supply chain risks and challenges to develop effective measures to mitigate them.That is what you will discover in this article ! 

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4 Strategies to Help You Manage Supply Chain Risk effectively
/ By DocShipper / Guest Blogging/ • • • / 0 Comments

4 Strategies to Help You Manage Supply Chain Risk effectively

Business runs with strategies and planning to achieve the business goals in financial, operational, functional, and organizational aspects. But are these the only factors that boost a business to progress? Supply chain management is an important factor that supports most businesses from manufacturing, selling, reselling, and delivering it to the right one who needs any product.

Supply chain management starts from the flow of goods and services to the right person according to his/her requirement. It includes the process of transforming raw materials into fine good products that come to market. Supply chain management is the active streamlining of a business’ supply activities to extend customer value and competitiveness.

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/ By docpublish / Guest Blogging/ • • • • • • / 0 Comments

How to Improve the Way We Monitor Supplier-Related Risks?

Businesses face various types of supplier risks when managing their supply chain. These risks involve uncertainties that can present challenges to their current or future operations. Unfortunately, not every organization understands the wide range of supplier-related risks and fails to manage them.

Before we move on to discuss ways to improve the way we monitor supplier-related risks, it is important to understand what is meant by supplier-related risks. Supplier risk is referred to as any risk associated with a supplier's operation or organization that might have a negative influence on your company's activities.

Depending on the activities of the firms involved and the sort of transactions made, there are a variety of hazards. However, we may categorize these risks into four types.

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