Title: What Is a Risk Management Plan?
Headings: What Is a Risk Management Plan?
What Is a Risk Management Plan?
The Need for a Supply Chain Risk Management Plan
What Is a Risk Management Plan?
Related: Enterprise Risk Management: Guide and Strategy
Prior Planning Prevents Poor Performance
Step 1: Assess Your Risks
Step 2: Quantify Risk
Step 3: Build Contingencies
The Supply Chain Risk Management Plan
Don’t Forget Logistics
Related: How Shippers Can Reduce Freight Spend Using Weather as a Strategic Advantage
Know your risks before you ship. Watch Riskpulse in action.

Content: Supply Chain Quarterly explains the issue, saying, “In the past year and a half, the United States has imposed tariffs on three different lists or tranches of goods and has identified a fourth. The first three rounds of tariffs have already resulted in a significant shift away from China and to other countries of origin for goods imported into the United States. As country of origin shifts away from China and toward other markets, there will be reverberating effects elsewhere in all major markets – those in which goods will now be sources, as well as across all markets that are buyers and consumers of those goods.” Supply chain management has to begin with a supply chain risk management plan. What Is a Risk Management Plan? A supply chain risk management plan is a strategy to speed response to as many circumstances as can be predetermined so as to minimize disruptions to the supply chain if they were to occur. Supply chain risks can come from anywhere, as we have learned. Some of the most common are natural disasters and weather-related risks, perhaps from global warming. COVID-19 is still a threat to supply chains, and Compliance Week adds global trade wars and Brexit, raw materials shortages, and safety recalls to the list. While some risks happen more frequently than others, even those that appear less emergent can be equally destructive.