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The critical need for risk management in the global supply chain

The unfortunate events that have recently taken place in Japan, on top of everything else, have demonstrated to the world just how vulnerable the Global Supply Chain is. Globalization has seemingly made everything faster, easier, and less expensive. However, it has also created some of the longest, most complex supply chains that have ever been in existence and, as a result, issues with quality are more likely to crop up and increase risks across the board. In reality, globalization has created longer supply chains that are less predictable and more difficult to control.

A 2010 Gartner survey reported that 45% of respondents had experienced a supply chain disruption in the past 12 months; Gartner’s researchers found that a vast majority of these disruptions could have been prevented with the right visibility and proactive supplier management practices. As it stands today, you won’t find a company that has a true supply chain risk management program across its entire supply chain. In fact, the idea of risk management in the supply chain is a very early dialogue right now – but over the next five years the supply chains have the potential to become more efficient than ever before.

Kevin North, President and CEO of Dyadem, the leading provider of risk management solutions, has a distinct vision about how risk management practices will have an extraordinary and beneficial impact on the global supply chain in the next five years.

· How a sound supply chain risk management strategy can help ease the pain of a company, its partners and customers in the wake of a supply chain disruption.

· How as risk management evolves across the supply chain, organizations will have real-time input of risk related to design, transportation, logistics, etc., as well as the ability to relay this information to customers in real time.

· How once small or specialty manufacturers can leverage risk management across the global supply chain in order to compete with, and outperform, the giants of their industry.

· Mitigating risk in the global supply chain across borders, delivery issues and forecasting.

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