1.50 credit hours
A Supply Chain comprises firms, organizations, and individuals, linked through material, information, and financial flows, and whose activities enable products and services to be created and reach the consumers. Risk Management is the process of identifying risks, forecasting their impact, devising, mitigation strategies, and applying those strategies in anticipation or in response to adverse events. Supply Chain Risk Management (SCRM) is a set of solutions for identifying, measuring, preparing for, and mitigating adverse events in supply chains. As the widespread use of outsourcing is stretching supply chains further geographically and turning supply networks into intricate, global, and fragile webs, supply disruptions happen more frequently than ever and lead to substantial financial losses. A 2015 National Institute of Standards and Technology study concluded that the likelihood that a manufacturing organization will not experience a supply chain disruption in a twenty-four month period is a mere 2%. According to research, firms that experienced supply glitches have suffered tremendous erosion in the shareholders' value (the abnormal return on stock of these companies was negative 40%). Disruptions are only one example of supply risks. From commodity price fluctuations to product adulteration, from cyber security to patent violations, from regulatory compliance to supplier bankruptcies, supply chains are rife with risks and opportunities if you know how to recognize and take advantage of them. In this course, you will learn the best industry practices and be exposed to the most current academic insights on SCRM. You will know the process for SCRM, a variety of well-known and emerging supply risks, and the unique challenges of managing each one. You will also learn advantages and disadvantages of different risk mitigation tools. You will take away a number of useful analysis tools that you can immediately apply at your job. You will know the terminology of the field, the definitions, and the state of the art techniques. By the end of the course, you will be able to evaluate companies' performance with respect to supply risk management, and you will be able to create, contribute to, and run a supply-risk management program at your company. Offered as OPMT 470 and SCMG 470.
No Syllabus Available