Risk Management Technology for the Supply Chain

Abstract

Cyber Security, Compliance, Privacy, Supply Chain, Import Security, Anti-Counterfeiting, Critical Infrastructures and scary threats like fraud and piracy, ID theft, fraudulent checks, skimmers, phishing, malware, key loggers, and botnets afflict us all: from government, to business, to consumers, our lives are fraught with risk. Risk Management Technology is a growing sector, but the solutions are fragmented. See our new Solutions Guide chart in this report.

Report

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As corporations contemplate the ever-increasing complexity of their business transactions, the question of risk management often, or should often, come up. Discussions often center on probabilities of disrupting events, which, unfortunately, often have little real science to support them. Identifying the sources of risk and predicting how it will affect us are more of an art than a science. Therefore, understanding specific vulnerabilities and their impact, and taking action to sustain the business (continuity planning) if a disruption does occur has become a primary focus.

Better methods of risk avoidance coupled with building continuity or resiliency into systems and processes have yielded more effective results. In addition, progress in both stabilizing the supply chain’s response to risk as well as in continuity planning has yielded ROI, since business reviews and cross-functional dialogs can occur. These efforts often result in an overall improvement in process and information availability.

The topic of risk management is certainly a vast domain that we have written about often. In this brief report, we will limit our discussion to technology solutions for risk management.


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