In this article Rocky Osborn, Senior Vice President, Global Business Development & Client Success at Innovecs, a global software development company, provides insights in supply chain risk management, discusses main challenges and solutions, and describes real cases.
In “Supply Chain Risk Management: Advanced Tools, Models, and Developments,” Dr. Yakob Khojasteh assumed that the statement, “all the goods produced can be sold,” is no longer true. Today, production businesses should consider optimal output, supply levels, and apply risk pooling (as a form of risk management) to operate efficiently—because factors such as consumer needs diversification and business competition globalization have decreased product life cycles.
SCRM solutions are demanded on the market since they help companies to evaluate, forecast, and mitigate evolving risks in their developing supply chain networks. The world’s largest logistics companies, such as DHL, provide tools for business continuity planning, logistics control towers, supplier risk management, trade compliance, supply chain insurance, and sustainable procurement.
Software development companies, including Innovecs, can customize your transportation management, assist in collecting data from multiple sources, establish tracking processes, or optimize warehousing.
The company follows best practices in SCRM to enhance business opportunities and decrease risks. So, let’s learn more about modern possibilities in supply chain risk management software implementation.