Managing Risk in Supply chain

About the Course

Name: Managing Risk in Supply chain

Code: PSCO-103

Sectors: Procurement & Supply Chain Operations

  Date   Days   Venue   Fees
04 - 08 Sep 2022 5 Live Online Classroom $1,550 BOOK NOW
12 - 16 Nov 2022 5 Abu Dhabi, UAE $3,950 BOOK NOW

Introduction

Nowadays, supply chain risk management has become more complex, it is full of challenges that can result in higher cost, wasted materials and production error. The ability to effectively manage risks in a supply chain is an absolute must in the skill set of any current supply chain professional. This training course is designed to help participants gain the necessary skills and knowledge for them to operate diligently and effectively with their supply base, mitigating any risks and maximizing all opportunities to gain competitive advantage in their market place. This course provides a comprehensive understanding on the nature of supply chain risk management and how it helps to reduce the chances of any uncertain situation and feat an appropriate set of solution to manage the situation efficiently and effectively.

Objectives

At the end of the training course, participants will be able to:

  • Gain a comprehensive understanding of modern supply chain and risk management concepts as a foundation for operational success
  • Identify and evaluate sources of risk from across the supply chain
  • Develop risk mitigation and contingency plans to ensure uninterrupted supply flow
  • Effectively plan supply chain management risk process to match organizational requirements

Training Methodology

The training course is designed to be interactive and participatory, and includes various learning tools to enable the participants to operate effectively and efficiently in a multifunctional environment. The course will use lectures and presentations, exercises, experiential and exposure to real world problems and policy choices confronting delegates.

Outline

Day 01

  • Supply chain management and risk
  • Supply chain overview
  • Functions of a supply chain
  • Supply chain objectives
  • Supply chain configuration
  • Introduction to risk management
  • Why take risks?
  • Risk Perception
  • Risk within dynamic environments
  • Benefits of supply chain risk management

Day 02

  • Planning risk process in supply chains
  • Risk management process overview
  • Risk management deliverables
  • Plan approach
  • Risk administration
  • Supply chain risk definitions
  • Distribution of roles
  • Stakeholder management
  • Developing a communications plan
  • Managing change
  • Risk tolerance
  • Risk appetite
  • Cultural considerations
  • Templates

Day 03

  • Identifying supply chain risks
  • Identifying risks
  • Scoping supply chain risks
  • Internal versus external risks
  • SIPOC model
  • Value chain analysis
  • SCOR framework
  • Work breakdown structure
  • Scope change risks
  • Risk types and categories
  • Service level risks
  • Financial risks
  • Risk identification and evaluation toolkit
  • Evaluating supply chain risks
  • Risk analysis
  • Measuring likelihood of risk
  • Measuring impact of risk
  • Expert options (interview)
  • Benchmarking as a tool for risk evaluation
  • Modeling and simulations
  • Probability distributions
  • Three-point estimates
  • Common distribution curves for evaluating risks
  • Sensitivity analysis
  • Decision tree analysis
  • Mapping risks
  • Using risk heat maps

Day 04

  • Responding to supply chain risks
  • Risk response strategies
  • Accept, reject and transfer
  • Mitigation and contingency planning
  • Mitigation strategies for transportation risks
  • Mitigation strategies for warehousing risks
  • Mitigation strategies for inventory management risks
  • Mitigation strategies for sourcing risks
  • Sourcing strategies to exercise power
  • Sourcing strategies to create advantage
  • Secondary and residual risks

Day 05

  • Controlling supply chain risks
  • Benefits of monitoring and control
  • Work performance evidence
  • Change requests
  • Ethical considerations
  • Legal considerations
  • Managing a risk charter
  • Elements of risk charter
  • Ownership of risk charter
  • Defining risk responsibilities and accountabilities
  • The charter as a live document
  • Summary: risk process overview

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