Supply Chain Risk Management, Resilience and Security
Area of expertise: Supply Chain Management
Supply Chain Risk Management
Supply chain risk management deals with the management of everyday as well as exceptional risks along the supply chain. Risks along a supply chain can occur at any time and in very different forms and can basically be divided into four categories (company-internal, supplier or customer-side risks or those due to environmental influences). We apply the classical risk management process (identification, evaluation, minimization, monitoring) using selected tools and methods.
Supply Chain Resilienz
In addition to proactive management of risks along the supply chain, companies can also contribute to risk minimization with a resilient approach. Supply chain resilience describes the ability of a company or its supply chain to deal with disruptions and changes. A holistic approach aims to restore system relationships and functions quickly; possibly through adaptation or transformation to maintain functions. This is to ensure the survival, adaptability and growth ability of a supply chain as a complex adaptive system in the face of turbulent changes.
Digital and cyber risks in the Supply Chain
Cyber risks such as hacker attacks, computer viruses, phishing and similar phenomena are no longer the sole responsibility of IT departments. Rather, these risks go beyond company boundaries and therefore increasingly affect supply chain management. Hacker attacks on customers and suppliers often have a direct impact on supply chain partners.
Supply chain risk management and resilience are those aspects that can be used across companies. The most prominent example of a supply chain cyber incident was that of Solarwinds in late 2020, beginning of 2021.