A Business Perspective of Supply Chain Risk

A Business Perspective of Supply Chain Risk Today's supply chains are just as long, complex, and important as the ancient Silk Road. But where the Silk Road became vital to civilisations of the past, modern supply chains could be their downfall, jeopardising functionality and consequently organisations' reputations. In the interconnected, globalised economy, companies are connected to many suppliers and partners through their supply chains. This exposure leads to a plethora of risks that can severely damage a company’s finances, reputation, and future competitiveness. It’s time to understand the challenges and implement a proactive strategy to get on the front foot. Continue reading for a business perspective of supply chain risk. Defining Risk The APICS Dictionary, 14th Edition, defines supply chain risk as “decisions and activities that have outcomes that could negatively affect information or goods with in a supply chain.” In other words, supply chain cyber attacks put organisations at