SCM 101 (3D): How to Establish Risk Assessment Methodologies

Eliot Madow

SCM 101 (3D): How to Establish Risk Assessment Methodologies

Risk management and compliance can support business objectives and provide major competitive advantage. But must we apply the same level of oversight and control to every risk possibility? Not necessarily – if you adopt a risk-based approach to managing the supply chain. The 5 W’s are the questions we need to ask:

  • Who will be affected by the possible risk?
  • What is at risk?
  • When will we be affected by the possible risk?
  • Where will the risk arise?
  • Why and to what extent will the risk affect us?
NESCON 2018