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Risk Analysis 1 RISK ANALYSIS Name Course Professor Institution Date Introduction Supply chain has become very important in any organization; it has developed greatly from the previous years to present. It affects how the entire organization or an entity operates and the results greatly affected by the activities undertaken in the supply chain network. Despite its advancement and incorporation, it is faced with challenges that keep on changing from time to time due to fluctuating business environment. These changes and risks have the specific cause and origin that is important to consider before coming up with mitigation strategies. These include; critical review of the supply chain resilience, different types of risks and their impacts, how they have been mitigated and which strategies have bee employed, what are main challenges when trying prevent and reduce thee effects, who are the main contributors in the whole process of chain management and what is to be done to improve the management of risks. We can also predicts the potential threats institutions are going to face in their supply chain
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Risk Analysis 2 management in future and come up with strategies to counter them. Indeed it is good to get prepared than waiting for a calamity before you act. Supply chain resilience is critical when managing risks. Strategic Perspectives Supply chain resilience reports are a series of surveys undertaken by the business continuity institute and are released on yearly basis. They aim at giving insights on the management of various organizations by sharing information. They also give challenges facing different organizations especially on the supply chain risks and how to mitigate them. Supply chain resilience is the act of being in a position to recover from the occurrence of the risk and gain full operation and at the same time trying to minimize all the causes of the supply chain risks (Global and Metrica, 2015, p.45). The effectiveness and efficiency of the company relies upon the strategies, mission, vision business continuity and culture. Supply chain also requires all the above mentioned to mitigate the challenges in the supply chain. The authors have emphasized on supply chain resilience. It comprises of; top level management commitments, business continuity arrangement, supply business continuity information, seeking assurance from key suppliers and assessing the effectiveness of suppliers’ business continuity. Management commitment was considered in all the reports, indicating they support risk mitigation techniques and acknowledge the effects of disruption. Top management had the impact on supply chain risk management 29%, 33%, 27% and 41 % in year 2014, 2015, 2016 and 2017 respectively(Riglietti at el 2017,p.27, Riglietti and Alcantara 2016,p.18, Riglietti and Alcantara,2015,p.20, Glendon and Bird,2013,p.9, Glendon and Bird,2014,p.10). This helps in reducing disruption in the supply chain. Most organizations have their own business continuity programs ,whereby 70%, 72%, 68$, 73% and 74% of the respondents in 2013,2014,2015,2016 and 2017 respectively agreed that they have such kind of programs to reduce supply chain disruptions(Riglietti at el 2017,p.28, Riglietti and Alcantara 2016,p.19, Riglietti and
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