iii.
RISK EVALUATION
Acceptable risk levels will be unique to each
organization and supply chain. They may vary by commodity, product, or service,
as well as over time. Different risk-tolerance levels may be set for different
levels of the organization. While generally tied to financial impact, through
which risks may best be understood and compared, risks may also be tied to
other corporate assets such as reputation.
One means of evaluating risk is to use a
“heat-map” showing risk-events on a matrix defining likelihood and consequence
levels. This technique allows managers to easily see the relative likelihood
and consequence of differing risks. To use this method effectively it is
critical to have well-defined and consistently used criteria for the different
likelihood and consequence levels.
iv.
RISK TREATMENT
When
an enterprise understands its supply chain and analyzed its potential risks, it
can implement an effective supply-chain risk management program with its
partners, that is, its suppliers, carriers, and logistics providers. Such a
program should have at least three elements: protecting the supply chain,
responding to events, and continuing business operations while recovering from
events. We discuss each of these below. An effective supply-chain risk
management program must ensure that an enterprise and its partners implement
appropriate measures to fully secure goods and their components from the point
of origin to final destination.
Protection
of Supply Chain includes:
ü
Physical
Security
ü
Access
Controls
ü
Personal
Security
ü
Education
and Training
ü
Procedural
Security
ü
IT
Security
ü
Business
Partner Security
ü
Conveyance
Security
Crisis Management comprises the overall strategic and tactical responses of
an organization to recognize and respond effectively, efficiently and comprehensively
to actualize threats. It involves proactive
measures to detect, respond to, and recover from a crisis event. Crisis
Management preparation and response activities are characterized by several
phases:
ü
Preparation
ü
Response
(consisting of Risk Assessment, Critical Incident Planning, Risk Mitigation,
Emergency Response and Communications to Internal and External Stakeholders and
Media Relations)
ü
Recovery
and Business Resumption
ü
Testing,
Training and Plan Maintenance
To
be effective, business-continuity planning (also referred to as
business-continuity management) should be an integrated management process
supported from the top levels and managed at both organizational and
operational levels. A business-continuity planning team should also establish
company risk-tolerance levels and recovery priorities, validate
business-recovery strategies, designate team members from each critical
business function, ensure planning and documentation meets established
timelines, and conduct periodic evaluation of the business-continuity planning
program as based on performance objectives.
Different businesses search for this affirmation when they are looking for new workers. On the off chance that you have PMP testament you can hope to acquire more than different experts without it. ExcelR PMP Certification
ReplyDeleteI can set up my new idea from this post. It gives in depth information. Thanks for this valuable information for all,..
ReplyDeleteExcelR pmp certification
New to software testing and want to know about risk based testing? How about you check out this platform for the best guidelines for software testing across EU. Follow the link provided.
ReplyDeleteAwesome and interesting article. Great things you've always shared with us. Thanks. Just continue composing this kind of post. Risk Assessment
ReplyDeleteGood website! I truly love how it is easy on my eyes it is. I am wondering how I might be notified whenever a new post has been made. I have subscribed to your RSS which may do the trick? Have a great day! Pear Diamond suppliers
ReplyDelete논산콜걸
ReplyDelete춘천콜걸
계룡콜걸
춘천콜걸
청양콜걸
충북콜걸
강릉콜걸
충북콜걸
강릉콜걸
홍성콜걸