Supply Chain Risks to Consider
Supply Chain Management or SCM with its varying complexities have been churning out more risks for businesses than in any other department. Be it lack of visibility, non-traceable cash flows, multiple supplier management, infrastructure problems, and a lot more, streamlining the supply chain is the key to seamless business productivity. Sure, the digital explosion has armed businesses with multiple tools and solutions such as cloud, IoT, AI, Big Data, etc to effectively track, monitor, and gather insights on multiple supply chain processes and make informed decisions. However, the digital transformation of this department has also coughed up some major risks that need expert advice such as from enterprise risk management consulting companies. These risk advisors efficiently recognize future risks, track the existing ones, come out with risk management strategies, pen down contingency plans, and assist in effective implementation of the risk administration procedures. Below i...