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Strategic Sourcing: Approaches for Managing Supply Chain Risk
Hardcover
Series: Palgrave Studies in Logistics and Supply Chain Management
ISBN13: 9783031525919
Publisher: Palgrave MacMillan
Published: Mar 5 2024
Pages: 106
Weight: 0.70
Height: 0.38 Width: 5.83 Depth: 8.27
Language: English
This book provides a methodology, grounded in prior research, for analyzing supply chain vulnerabilities and determining appropriate strategic sourcing approaches firms can adopt for managing risk and ensuring supply chain resilience. Supply chain risk affects firms in a multitude of ways. The detrimental results of failing to manage supply chain risk includes, but is not limited to, disruptions that lead to the inability of firms to meet customer requirements, increased costs due to holding excessive inventory, paying employee overtime and expediting orders, financial losses due to increases in commodity prices and unfavorable exchange rates, and tarnishing firm reputation due to poor performance. Although supply chain risk can detrimentally affect firms in many ways, there are approaches organizations can implement for identifying, assessing, and managing risk in order to foster resiliency.
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