Could you and your customers withstand a Supply Chain disruption?
As we are increasingly purchasing materials from and distributing our products to countries and regions we are not familiar with, nor easy to control where credit, social and reputation risks are increasingly catching the attention of stakeholders. How to make sure that this will not jeopardize my overall business objectives? How can we be sure that contractors will adhere to our company's code of conduct? Do we have confidence that the whole logistics process are compliance with regulations of both source and target country?
Over the last 10 to 15 years, companies have focused on reducing their business costs and expanding their capabilities by improving their supply chains. Low-cost country sourcing, multi-tiered supplier networks and business process outsourcing are just a few of the initiatives that companies, large and small, have deployed. The benefits of many of these initiatives are clear 每 reductions in the cost of goods, growth in new markets, the freeing-up of resources to focus on core value-adding activities, and the development of new partnerships, relationships and capabilities. However, these benefits are often accompanied by greater supply-chain complexity and exposure to risk.
To respond to these growing needs, Logiwell has developed an integrated set of diagnostic tools and related services to help clients identify, prioritize and address the key risks in their supply chains, particularly in three critical areas:
- Put risk management as part of strategy developing process. At every stage in the process 每 developing a supply-chain strategy, selecting suppliers and partners, managing established relationships and processes, or even discontinuing a relationship or process 每 risks need to be acknowledged and effectively managed. Logiwell helps companies to make an inventory of these key risks; to evaluate their potential impact, using established and tested risk-quantification tools; and to assess the likelihood of their occurrence.
- Design of structure for supply-chain risk management. Logiwell can help companies that have conducted an assessment of their supply-chain risks to design an appropriate risk-control framework. Our methodology, which is based on the enterprise risk-management framework, systematically considers each of the components required for effective risk management 每 internal environment, business objectives, event identification, risk assessment, risk response, control activities, communications and monitoring procedures.
- Set up Supply-chain risk mitigation plan.One of the most challenging aspects of supply-chain risk management is ensuring the proper implementation and continued application of an effective risk-control framework 每 procedures, training, monitoring and reporting. Companies that have identified their key risks and defined the appropriate responses require adequate capabilities and the organizational discipline to implement the risk- control framework effectively. Logiwell helps clients to implement effective risk-mitigating activities and controls by providing training and monitoring services.
