{"id":2738,"date":"2009-09-09T15:36:00","date_gmt":"2009-09-09T15:36:00","guid":{"rendered":"https:\/\/www.certitrek.com\/nlpa\/2009\/09\/09\/whitepaper-wednesday-supply-chain-risk-management\/"},"modified":"2021-07-19T06:11:16","modified_gmt":"2021-07-19T10:11:16","slug":"whitepaper-wednesday-supply-chain-risk-management","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-supply-chain-risk-management\/","title":{"rendered":"Whitepaper Wednesday &#8211; Supply Chain Risk Management"},"content":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on the Purchasing Certification Blog. Today, I\u2019ll be reviewing a whitepaper entitled \u201cEssential Characteristics of a Supply Chain Risk Management Strategy\u201d from Kinaxis.<\/p>\n<p>Don\u2019t miss updates on Procurement &amp; Supply Chain, Subscribe here!<\/p>\n<p>This whitepaper starts off by essentially segmenting supply chain risks into two categories: those that are anticipated and those that are not. Obviously, the more effort you can put into identifying risks, the less likely you\u2019ll experience a risk that is unanticipated, although unanticipated risks certainly can \u2013 and do \u2013 happen.<\/p>\n<p>For those risks that you do identify, the whitepaper suggests a three-phase approach to managing them:<\/p>\n<ul>\n<li><strong>Visualize and understand risks that apply to the supply chain.<\/strong> The whitepaper lists several categories of risks, including: natural disasters, flu\/pandemic, economic risks, political risks, transportation, unstable demand, and unstable supply.<\/li>\n<li><strong>Measure and prioritize the risks.<\/strong><\/li>\n<li><strong>Take action.<\/strong> Decide which risks need to be addressed and develop mitigation strategies for those risks.<\/li>\n<\/ul>\n<p>The second half of the whitepaper goes on to discuss managing \u201cunanticipated events.\u201d The whitepaper defines an unanticipated event as \u201ca disruption that despite best efforts was not foreseen, and therefore a mitigation strategy has not been prepared.\u201d<\/p>\n<p>The whitepaper notes that \u201cthe speed with which the company reacts and responds [to unanticipated events] can mean the difference between an insignificant blip and a full-scale crisis.\u201d The whitepaper concludes by listing six capabilities that a risk management assessment and response tool should have to assist companies in their management of unanticipated events.<\/p>\n<p>At 11 pages, this whitepaper more thoroughly covers the topics that I have summarized here and is a worthy download. You can get your own copy of the whitepaper from Kinaxis\u2019 Web site (registration required).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-procurement"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Whitepaper Wednesday - Supply Chain Risk Management - Next Level Purchasing Association (NLPA)<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-supply-chain-risk-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whitepaper Wednesday - Supply Chain Risk Management - Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"og:description\" content=\"Welcome back to another installment of Whitepaper Wednesday here on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-supply-chain-risk-management\/\" \/>\n<meta property=\"og:site_name\" content=\"Next Level Purchasing Association (NLPA)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2009-09-09T15:36:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-19T10:11:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.certitrek.com\/nlpa\/wp-content\/uploads\/sites\/5\/2020\/11\/nlpa-images-046.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-supply-chain-risk-management\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/blog\/whitepaper-wednesday-supply-chain-risk-management\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nlpa\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Whitepaper Wednesday &#8211; 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