21947 Supply Chain Risk Management

Description

Risk and complexity in supply chains are major issues faced by the industry in today's volatile environment. The concept of the resilient enterprise as defined by Yossi Sheffi (MIT, 2005) is a core concept of this subject. Organisational resilience stems from a growing need to manage the uncertainty of complex and interconnected modern societies and economies where managing risks encourages critical businesses to engender a more organic capability to deal with unexpected disruptions. It is in this context that this subject focuses on two strategically important concepts of complexity and risk in global supply chain management. Students are equipped with a wide range of skills to manage risk and complexity in supply chain sources and develop strategies to manage complexity and risk in uncertain conditions.

Topics include understanding resilience in supply chains; differentiating and recognising sources of risks in supply chains; the role of procurement strategies and insurance options in risk management; decision-making for risk management; and leadership in mitigating risks in complex supply chains. The risk management skills are used by multiple stakeholders including those who directly manage the intra- and inter-organisational operations, as well as those who plan and design the supply chain; manage customer expectations and deliver service experience to customers as an approach to boost resilience, and help maintain a competitive edge and drive profitability. Ethical implications and social responsibilities arising from risks in supply chains are also discussed.