Supply chain risk management guide
Produced in partnership with Elizabeth Bourlet
Supply chain risk management guide

The following Risk & Compliance practice note produced in partnership with Elizabeth Bourlet provides comprehensive and up to date legal information covering:

  • Supply chain risk management guide
  • Why you need to manage this risk
  • Top five priorities
  • Understand the types of risks inherent in your organisation’s supply chain
  • Classification of supply chain risk—mini action list
  • Know your suppliers—supply chain visibility
  • Supply chain visibility—mini action list
  • Monitor and manage performance and obligations
  • Monitor and manage performance and obligations—mini action list
  • Supplier financial viability
  • More...

Why you need to manage this risk

The outbreak of coronavirus (COVID-19) in early 2020 could be the most significant event to impact the world economy in generations, with the potential for long-term effects in all markets and supply chains. However, it provided all those involved in risk management with the (dubious) benefit of highlighting the general risks inherent in supply chains and the need to identify, quantify and manage those risks in an active way.

A supply chain map starts with the sourcing of raw materials and goes up to production of finished products—and covers everything in between. Depending on the industry or sector in which your organisation operates, its supply chains can be relatively short, with just one or two links or can have multiple layers and interactions.

Your role as in-house lawyer or compliance professional is to provide the contractual mechanisms to help your organisation understand, manage and mitigate its supply chain risks. See: Contract risk management clauses—checklist.

Some supplies may be more critical to a manufacturing process than others, in which case delays to certain components could lead to much larger overall losses in production than an initial assessment of vulnerability may suggest. For example, in high-value manufacturing processes with long supply chains, the absence of a key part may force the shutdown of a whole production line. Therefore, it is advisable for

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