Supply Chain Risk Management

The ability to effectively manage risks in a supply chain is an absolute must in the skill set of any current supply chain professional.

This course will equip and develop procurement and supply chain professionals to be able to operate diligently and effectively with their supply base, mitigating any risks and maximizing all opportunities to gain competitive advantage in their market place.

This course is highly interactive and includes group discussions, team exercises, case studies, individual and group presentations, videos and summative quizzes. All participants will have several opportunities to apply the advanced knowledge they gained and demonstrate their skills in Supply Chain Risk Management.

Objectives

• Outline modern supply chain and risk management concepts as a foundation for operational success
• Recognize and assess sources of risk from across the supply chain
• Develop risk mitigation and contingency plans to ensure uninterrupted supply flow
• Employ communications and risk project management tools to enable successful implementation of risk management plan
• Recognize cultural, ethical and legal parameters for consideration in supply chain risk management planning

Who Should Attend

Supply chain and logistics professionals, in particular, those at operational, supervisory and management level. The course is ideal for those seeking to complement their supply chain and logistics experience with risk management skills suited for their day to day operations.

Modules

Day 1: Supply chain management and risk

• Supply chain overview
• Supply chain objectives
• Introduction to risk management
• Risk management terms and concepts
• Scoping supply chain risk > Supply-side partners > Demand-side partners > Internal echelons
• Corporate culture and risk appetite

Day 2: Managing risk process in supply chains

• Stakeholder management
• Developing a communications plan > Message scope and clarity > Identifying stakeholders > Mapping stakeholders > Customized messaging > Distribution of roles
• Managing change > Technical elements of change > Political elements of change > Emotional elements of change
• Risk process overview
• Risk charters and documentation > Templates > Risk administration

Day 3: Identifying risks

• Scoping risk
• Scope change risks
• Defining deliverables
• The Work breakdown structure (WBS)
• Risk types and categories
• Supply risks > Assessing sources of supply > Sourcing strategies
• Service level risks
• Financial risk
• Alternative risk identification tools and techniques

Day 4: Risk Response

• Monitoring and controlling supply chain risks
• Risk analysis > Measuring impact of risk > Measuring likelihood of risk > Quantifying risk
• Mapping risks (risk heat maps)
• Risk response strategies: Accept, Reject, Transfer, Mitigate
• Contingencies
• Managing risk charter > Elements of risk charter > Ownership of risk charter: Accountabilities, Responsibilities
• The charter as a live document

Day 5: Risk management considerations

• Cultural considerations
• Ethical considerations
• Legal considerations
• Risk and the external environment