Risk and sustainability are not mutually exclusive. The linkage between risk and sustainability is gaining traction due to social and environmental impacts and requirements for tighter regulations with more detailed monitoring. Leaders in organizations are recognizing sustainability is more than environmental. In fact, it requires managing all risk for business. Global Supply Chains in the future will need to manage both a greater degree of risk requirements and increased sustainability value.
To achieve this, stronger process management and new automation tools will support these demands on company’s supply chain for risk performance and corporate social responsibilities (CSR).
Fixing Weak Links in the Supply Chain
1. Create a vision to predict, prevent and mitigate impact to Supply Chains (SC)
2. Develop contingencies and buffer with options
3. Employ smart technologies
4. Look down the SC pipeline to create more robust processes into the suppliers’ supplier
5. Develop cross-functional risk processes and create synergies
Mitigating impact to supply and delivery while keeping current with trade regulations and supplier engagement though Supply Chain Risk Management (SCRM).
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