Supply chain risk management is a proactive approach to managing risks along the entire value chain in order to anticipate undesirable consequences and create a resilient supply chain.
It is important to look at the supply chain as a whole and to trace cause-and-effect chains. After all, the failure of a possibly small component can cause major disruptions to the entire supply chain and result in enormous costs.
The latest technologies can create early warning systems for companies to identify and minimize risks in time. For example, Tracking&Tracing enables the entire tracking of goods along the supply chain and can provide early information on whether goods will arrive on time or if a delay in delivery is imminent.
Likewise, by digitally connecting individual supply chain players, information can be exchanged in real time to inform downstream players in the supply chain of the current status in a timely manner.
The right guiding questions for your strategy formation in digitalization