Conclusion
As this book has demonstrated, risk comes in many forms. It can have a direct impact in terms of financial loss, or can be more indirect in its consequences through a detrimental effect on reputation. Its impact can range from operational and containable to systemic and catastrophic.
It is impossible for supply chain managers to predict low-probability, high-impact events such as natural disasters. However, it is possible for supply chains to be made more resilient – ‘risk-agnostic’ – by adopting a series of measures:
Implement international standards of risk awareness and response.
Ensure that there is clear responsibility for managing risk.
Start measuring risk so that decisions on appropriate levels of inventory can be made more ...
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