3 Supply Chain Management Risks Companies Cannot Afford to Ignore
S upply chain management or logistics management is no doubt complicated and streamlining it is one of the most important requirements to run a sustainable department. Faulty supply chain strategies can result in production delays, operational risks, financial crisis, legal problems, and much more. It’s important to have a concrete process in place to identify all the risks along the supply chain, coordinate effectively with all suppliers, track items in real-time, and make data-based decisions based on thorough analytical insights to create a fool-proof supply chain management system to boost organizational growth. No wonder because of these reasons, companies specializing in growth strategy consulting emphasize on the importance of adopting supply chain management solutions that, according to them, help to overcome logistic hurdles and let them focus on their core operations. However, before investing these tools, companies will first need to identify the risk factors p...