The ability to effectively manage risks in a supply chain is an absolute must in the skill set of any current supply chain professional.
This course will equip and develop procurement and supply chain professionals to be able to operate diligently and effectively with their supply base, mitigating any risks and maximizing all opportunities to gain competitive advantage in their market place.
This course is highly interactive and includes group discussions, team exercises, case studies, individual and group presentations, videos and summative quizzes. All participants will have several opportunities to apply the advanced knowledge they gained and demonstrate their skills in Supply Chain Risk Management.
By completing this course, you’ll be armed with the valuable and practical skills you need to develop and implement an Effective Supply Chain Risk Management program, improve your business operations performance, and make your supply chain secure and resilient. Objectives include:
- Outline modern supply chain and risk management concepts as a foundation for operational success
- Recognize and assess sources of risk from across the supply chain
- Develop risk mitigation and contingency plans to ensure uninterrupted supply flow
- Employ communications and risk project management tools to enable successful implementation of risk management plan
- Recognize cultural, ethical and legal parameters for consideration in supply chain risk management planning
What You Will Learn
You will be able to manage risks, reduce the effects of disruptions in your supply chain, and meet the needs and expectations of your customers and partners.
You will understand how to determine, implement, and monitor an optimal mix of measures to avoid, defer, reduce, or transfer all relevant end-to-end supply chain risks.
You will have the ability to develop, execute and implement a 5-step risk management process.
You will learn how to develop and implement a Predictive – Proactive SCRM methodology.
You will learn how to build supply chain security through capability development and dynamic security management capabilities.
Supply chain management and risk
- Supply chain overview
- Supply chain objectives
- Introduction to risk management
- Risk management terms and concepts
- Scoping supply chain risk > Supply-side partners > Demand-side partners > Internal echelons
- Corporate culture and risk appetite
Managing risk process in supply chains
- Stakeholder management
- Developing a communications plan > Message scope and clarity > Identifying stakeholders > Mapping stakeholders > Customized messaging > Distribution of roles
- Managing change > Technical elements of change > Political elements of change > Emotional elements of change
- Risk process overview
- Risk charters and documentation > Templates > Risk administration
- Scoping risk
- Scope change risks
- Defining deliverables
- The Work breakdown structure (WBS)
- Risk types and categories
- Supply risks > Assessing sources of supply > Sourcing strategies
- Service level risks
- Financial risk
- Alternative risk identification tools and techniques
- Monitoring and controlling supply chain risks
- Risk analysis > Measuring impact of risk > Measuring likelihood of risk > Quantifying risk
- Mapping risks (risk heat maps)
- Risk response strategies: Accept, Reject, Transfer, Mitigate
- Managing risk charter > Elements of risk charter > Ownership of risk charter: Accountabilities, Responsibilities
- The charter as a live document
Risk management considerations
- Cultural considerations
- Ethical considerations
- Legal considerations
- Risk and the external environment
How to Build a supply-chain risk-management framework
Building a risk-aware culture
Who Can Benefit from this Program
- The course is suitable for students and business professionals who want to get a basic understanding of risk management and to explore various strategies and best practices, tools for identifying and managing risks, and tools for planning and analysis.
- The course is suitable for supply chain professionals involved in developing and implementing risk management plans.