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In terms of supply chain risk, more reliance on supply chains means more risk and fewer suppliers increase dependence. With this in mind, identify four (4) supply chain risks and briefly explain what mitigation tactics you would use to overcome them.

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anthougo

The supply chain risks include economic, environmental, political, and ethical risks.

What are supply chain risks?

Supply chain risks are the exposures, threats, and vulnerabilities that products and services in the supply chain face during production and final distribution to customers.

Some examples of the well-known supply chain risks include:

  • Cargo theft
  • Climate changes
  • Container ship fires
  • Product safety recalls
  • Economic uncertainty
  • Raw material shortages
  • Environmental regulations
  • Political wars and wranglings
  • Global trade wars (e.g. Brexit).

What are the mitigation tactics against supply chain risks?

Some of the tactics that the supply chain manager should deploy to mitigate supply chain risks include:

  • Cargo insurance
  • Inclusive risk planning
  • Ensuring supplier quality
  • Awareness of suppliers' risks
  • Diversifying suppliers and processes.

Thus, the supply chain risks include economic, environmental, political, and ethical risks.

Learn more about supply chain risks at https://brainly.com/question/20814034

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