Knowledge@Wharton published a recent article that addresses the question about what kind of initiatives could companies be developing to decrease supply chain risks – short and long-term. The World Economic Forum (WEF) and the Council for Supply Chain Management Professionals (CSCMP) have been creating frameworks and common standards for initiatives that are “pro-active and strategic, rather than reactive and tactical.”
- WEF published Building Resilience in Supply Chains: An Initiative of the Risk Response Network in Collaboration with Accenture. It is based on four core components: partnership, policy, strategy, and information technology.
- CSCMP, for its members, published Supply Chain Risk Identification Structure (SCRIS). This formal structure is to “spur corporate thinking – and ultimately action – on how to best manage supply chain risk.”
