Supply Chain Risk Management: Current Industry Practices, Key Challenges and Requirements
In early 2015, SGS invited food industry experts to take part in a global survey—Supply chain risk management: How vulnerable is your supply chain? The survey—completed by respondents from 48 countries—explored current supply chain management practices. It also highlighted that independent of the approach to be followed, gathering, processing, handling and communicating the right information is a prerequisite to effective supply chain risk management and a bolster to supply chain resilience.[1]
The survey confirmed that although organizations do have systems and processes in place to manage their supply chain network, these are not always perceived to be very effective. They fail to address supply chain risks or ensure transparency and visibility across the supply chain. Lack of chain visibility and transparency is the primary challenge to effective supply chain management. Overcoming this challenge requires the industry’s ability to: