Procurement & Supply Chain LIVE 2023 showcased industry speakers discussing supply chain risk and resilience. Michael Carson emphasized the need for consistent measurement and assessment of risks in supply chains. He also highlighted the importance of frameworks and scenario modeling to understand vulnerabilities and make informed decisions. Carson emphasized the willingness to adapt and continuously improve in the rapidly evolving business landscape. The Supply Chain AWARDS will debut in 2024 to acknowledge exceptional performance in procurement and supply chain management.
Frequently Asked Questions
1. What is supply chain risk management?
Supply chain risk management refers to the process of identifying, analyzing, and mitigating the potential risks and disruptions that can affect a company's supply chain. It involves strategies and measures to improve resilience, reduce vulnerabilities, and ensure the continuity of the supply chain operations.
2. How can organizations manage supplier risks?
Organizations can manage supplier risks by implementing measures such as conducting thorough supplier assessments, monitoring supplier performance, establishing contingency plans, diversifying supplier sources, and leveraging technologies and solutions that provide supplier risk visibility.
3. What is the Federal Risk and Authorization Management Program (FedRAMP)?
The Federal Risk and Authorization Management Program (FedRAMP) is a government-wide program that promotes the adoption of secure cloud computing services. It provides a standardized approach to security assessment, authorization, and continuous monitoring of cloud services used by federal agencies.
4. How can organizations assess and mitigate cybersecurity risks?
Organizations can use frameworks such as the NIST Cybersecurity Framework to assess and mitigate cybersecurity risks. These frameworks provide guidelines and best practices for identifying, protecting, detecting, responding to, and recovering from cybersecurity incidents.
5. What are some strategies for supply chain risk management?
Strategies for supply chain risk management include mapping out the supply chain, diversifying supplier sources, establishing strong supplier relationships, implementing risk monitoring and early warning systems, creating contingency plans, and regularly reviewing and updating risk management measures.
Please note that these answers are based on general information and not directly related to the exclusive video interview mentioned in the query.