How can the company develop a better understanding of its areas of risk exposure?

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Words: 271
Pages: 1
Subject: Business
Topics: areas of risk exposure, better understanding, company develop
During the pandemic and as your company is emerging from the pandemic leadership has recognized the need to strengthen its supply chain risk management approaches. You have been tasked with collecting research articles and providing a point of view on a series of questions. The articles you have collected are:

Risk, Resiliency, and Supply Chain Modeling. Coupa Software (Course pack pp 283-294)
Coronavirus Is a Wake-Up Call for Supply Chain Management, Choi, Rogers and Vakil (Course pack pp 299-303)
We Need a Stress Test for Critical Supply Chains, D. Simchi-Levi and E. Simchi-Levi (Course pack pp305-308)
Preparing for Disruptions Through Early Detection, Sheffi (Course pack pp309-321)

Provide a one to two paragraph response for each of the following questions (5 points each):

1) How can the company develop a better understanding of its areas of risk exposure?

2) How might we set the priorities for which areas of risk to work on first?

3) Historically our Procurement team has been very focused on Cost Savings as their primary metric. How should this change going forward? Are there new metrics we should consider?

4) Once we have addressed the initial challenges and priorities how should we manage risk on an ongoing basis?

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