Supply Chain Risk Management

170 • Supply Chain Risk Management: An Emerging Discipline

Twenty- six percent of rms say they do not follow a particular standard

or framework.

4

A large percentage is not sure or has nothing signicant

in place.

ISO 73. is new Risk Management Vocabulary standard, updated in

2009, provides a wide breadth of terms. is standards body has been

updating the vocabulary recently to take into account the growing need

for additional terms and taxonomy within global supply chains. Some

commonly used risk terms in this standard are risk management, risk

assessment, risk analysis, risk, risk source, risk evaluation, risk criteria,

risk avoidance, risk transfer, risk reduction, risk mitigation, risk reten-

tion, risk optimization, risk acceptance, r ...