This paper concentrates on the primary theme of What are the sources of risks faced by the global supply chain? in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 45. For more details and full access to the paper, please refer to the site.
Please answer the following questions after reviewing the reading and lessons for Week 6.??
1. What are the sources of risks faced by the global supply chain?
Natural disasters, geopolitical risks, epidemics, or terrorist attacks can shut down production lines because of lack of parts inventory (pg. 316). At the other spectrum in Figure 10-1, we find sources of risks such as supplier performance, forecast accuracy, and operational problems. These are risks that can be quantified and hence we refer to those as the known-unknown.
2. How can companies mitigate these risks???
We discuss in this section the following methods for managing supply chain risks and in particular strategies for managing the unknown-unknown (pg.317).
• Invest in redundancy.
?• Increase velocity in sensing and responding.
• Create an adaptive supply chain community.
Reference
Simchi-Levi, David, Kaminsky, Philip, Simchi-Levi, Edith, (2008). Designing and Managing the Supply Chain: Concepts, Strategies and Case Studies, 3rd Edition. New York, NY: McGraw Hill
Instructions: Initial post should be at least 250 words and APA format too.