Risk Management Process in the Future of Digital Supply Chains Post-COVID-19
Building A Resilient Supply Chain Amid COVID 19 Disruptions.
Keywords: Risk Management Process, Supply Chains, Digital Transformation
COVID 19: Managing Supply Chain Risk and Disruption
A study by Gartner demonstrates that the corona virus epidemic, presented stronger commercial case for enterprise risk management highlighting the need of much attention and rigor.
Business leaders are still attempting to overcome the difficulties COVID-19 has posed for the global supply chain two and a half years after it first surfaced and sparked profounddigital transformations in how we work and live on a global scale.
The COVID-19 pandemic accelerateddigital transformations and technology, having a substantial impact on the global supply chain in a number of ways.
Despite the fact that the majority of the world is already coming out of the most traumatic aspects of the unprecedented global shutdown and that there is optimism in the distance, there are still serious concerns that demand attention and awareness.
A Technical Approach To Supply Chain Risk Management
To reduce the risk of supply chain disruption, business leaders should take into account the following risk management techniques:
- Develop risk assessments
- Map out critical suppliers
- Invest money on data for supply chain insights
- Organize customer expectations for delivery times
Business leaders may better position their organization to decrease the impact of supply chain difficulties and build a stronger, more operationally resilient firm by frequently conducting risk assessments and developing risk mitigation measures to control the exposure.
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Gartner – COVID-19 makes a strong business case for enterprise risk management
