Leveraging Risk Management Platforms to Control Complex Supply Chains
As supply chain risks grow more complex, it is critical for organizations to adopt a comprehensive, real-time risk management solution that is scalable, flexible, and provides accurate visibility.
How Complex Supply Chains Become Productivity Snares
With known and unknown risks inundating businesses worldwide, supply chain risk management (SCRM) is assuming a crucial role in procurement. Industry analysts expect the SCRM market to grow at a CAGR of 13.4% between 2018 and 2026.
Supply chain ecosystems have grown into vast and dynamic environments with multiple suppliers compiling their goods and services into a single product lifecycle.
Organizations, handling such extensive webs of vendors, network partners, and contractors can often face a multitude of roadblocks – environment health and safety violations, logistical challenges, lost productivity, natural disasters, and more. This, in turn, leads to delayed deliveries, unplanned shutdowns, and revenue losses.
To mitigate these risks systems have sprung into place that help control the complexity. This white paper will discuss:
- Common causes of supply chain disruptions
- Real examples of companies that have achieved success
- Tips to minimize risk using technological platforms
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