Supply Chain Risk Management
Minimizing Procurement Risks. Strategic Approaches to Resilient Supply Chain Management
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Seminar paper from the year 2023 in the subject Business economics - Trade and Distribution, grade: 1,3, Northern Business School, language: English, abstract: Global supply chains are increasingly under pressure. Natural disasters, political instability, and particularly the Covid-19 pandemic have revealed major vulnerabilities-especially in procurement. This paper explores the concept of Supply Chain Risk Management (SCRM) with a specific focus on procurement-related risks. It begins by defining key terms and illustrating them with practical examples. The paper then examines the core risk ma...
Seminar paper from the year 2023 in the subject Business economics - Trade and Distribution, grade: 1,3, Northern Business School, language: English, abstract: Global supply chains are increasingly under pressure. Natural disasters, political instability, and particularly the Covid-19 pandemic have revealed major vulnerabilities-especially in procurement. This paper explores the concept of Supply Chain Risk Management (SCRM) with a specific focus on procurement-related risks. It begins by defining key terms and illustrating them with practical examples. The paper then examines the core risk management process, including risk identification, assessment, controlling, and monitoring. Analytical tools such as SWOT analysis and utility analysis are discussed as methods to support supplier-related decision-making. A case study of the company AGCO highlights how modern technologies and alternative sourcing strategies can enhance supply chain resilience. The aim of this paper is to present practical approaches that enable companies to secure their procurement processes and build more crisis-resistant supply chains.
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