Lecture 11 Flashcards by Nikita Lebid | Brainscape

Q

What is supply chain security?

A

Internal risks

Supply (interruptions to the flow of product,)
Demand (unpredictable or misunderstood customer demand)
Business risks (financial or management stability)

External risks

Natural disasters
Wars and political situations
Trade “wars”
Strikes

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Q

Risk management process

A

Identify
Assess
Select
Implement
Evaluate

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Q

What is the risk?

A

A risk is defined and measured as a combination of a threat, (potential) consequences and likelihood.

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