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Are Your Suppliers At Risk? ZURICH Insurance Article

insider.zurich.co.uk/risk-mitigation/supply-chain-management-are-your-suppliers-a-risk/

Supply Chain Management – Are Your Suppliers a Risk? ZURICH

As we are currently witnessing, risk in the supply chain can be triggered by an infinite number of events. The coronavirus virus and cyberattacks on industrial control system demonstrate why the approach should address four critical categories of assets that support the creation, sourcing, production, movement/logistics, and servicing. They are human capital, digital assets, physical assets, and third party relationships. Over the past decade working with global orgs, I’ve found that applying an activity-based framework across the life cycle of a product/category helps accelerate and organize the data gathering, manipulation, analysis, presentation, and later Managment of risks across the supply chain. It’s taken me more than a decade and several dozen large scale projects to develop a process, tools and a platform to become efficient and thorough in this process. Bottom line, managing risk is a data driven process and those who relentlessly pursue the data will not only minimize exposure but will also create competitive differentiation! Thanks for sharing!!

By Gary S Lynch

I am the Founder and CEO of The Risk Project, LLC a risk, uncertainty and opportunity advisory firm. As a management consultant, business developer and market analyst at Booz Allen Hamilton, Gartner Group and Marsh, I was responsible for defining market strategy, commericalizing capabilities, and developing businesses. I've helped dozens of organizations create new revenue streams. I've also held the position of Risk Executive, CISO and Global Leader - Office of Business Continuity at JPMorganChase, Prudential and Prudential Securities.

Throughout my career I worked with senior leadership from startups, academia and government agencies to life sciences, hi-tech and financial institutions. I was a founding member of the US Dept of Commerce's Advisory Committee on Supply Chain Competitiveness, Advisor to the WEF Global Risk Network and Sr. Research Fellow at the RH Smith School of Business, University of Maryland.

I've authored three business risk books and been a featured at the WEF, APEC, WCO, NIST, NACD, AIAG, RIMS, MIT CTL, Robert H. Smith School and the Desautels School of Management/McGill University.

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