Supply Chain Risk Management

1.5 units

Many events in the last few years made supply chain managers keenly aware of the multiplicity and diversity of risks affecting them, from fluctuating commodity prices, unstable currencies, hurricanes and earthquakes, fires, terrorist attacks, contaminated material sourced from developing countries, and suppliers going bankrupt in tight financial credit environments. Building a functional supply chain requires careful planning and consideration of a variety of disruption risks, and it is of paramount importance to integrate management of physical flows and financial hedges when dealing with such risks. Companies that effectively manage their supply chain risks enjoy a level of robustness (flexibility) and resilience disruption-proof-ness) that affords them significant competitive advantage. This course will develop a comprehensive risk management framework for complex supply chains and introduce students to all needed decision tools for supply management and risk hedging. In addition, it will outline a portfolio of proven strategies to assess, reduce, hedge, and mitigate supply chain risks.