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Supply Risk Management
2 Days | 1.4 CEUs

Overview:

The objective of this workshop is to provide a framework for evaluating supply chain process and product risks. The workshop provides participants with risk management principles, techniques and tools that will help them address and mitigate process and product risks over the supplier lifecycle. 

What You Will Learn:

  • Learn how to identify supplier lifecycle risks of supplied services and products
  • Learn how to manage and assess supplier risks
  • Learn how to pareto and prioritize supplier risk based on quality, technology, cost and schedule
  • Learn how to apply the risk lifecycle approach to manage supply base
  • Learn how to control risk and improve supplier performance
  • Develop a doable plan for implementing a supply risk management process for sourcing products and services  

Course Content

Introduction to Risk Management

  • Explore and learn the fundamental concepts of supply risk management
  • Discuss business continuity planning
  • Review NFPA, BSI and other BCP standards
  • Exercise: Ice breaker
  • Exercise: Read Hutchins’s risk articles and discuss
  • Case study: Just-in-Time or Just-in-Case Management -- discussion of Hutchins’s article

Risk Lifecycle Step #1: Establish the context

  • Determine risk objectives
  • Review supply chain maturity and capability
  • Understand risk appetite and risk tolerance
  • Review current supplier risk control structure
  • Exercise: Risk appetite discussion
  • Exercise: Discuss application of various business continuity planning (BCP) standards
  • Case study: IT outsourcing risk management approach and lessons learned

Risk Lifecycle Step #2: Identify supply chain risks

  • Flowchart processes
  • Review possible unwanted variation
  • Discuss supplier management risk cycle
  • Identify risks by source, commodities and events
  • Start the process of identifying enterprise, programmatic, process, and/or product risks based on severity and likelihood
  • Exercise: Develop risk identification matrix 
  • Case study:  Department of Energy supply management

Risk Lifecycle Step #3: Analyze supplier risks

  • Review supplier enterprise, programmatic/project and event/product/transactional risks
  • Review level of supplier controls
  • Review effectiveness, efficiency and economics of supplier controls
  • Understand and apply the concepts of risk and control
  • Exercise:  Develop supplier heat maps
  • Case study:  FAA risk management

Risk Lifecycle Step #4: Evaluate/Accept supplier risks

  • Review and determine risk tolerance and assurance requisites for each supplier and commodity
  • Evaluate supplier risks based on likelihood and consequence and develop a heat map
  • Exercise: Assess supplier risks

Risk Lifecycle Step #5: Treat (respond to) risks

  • Learn how to develop strategies to mitigate and treat risks, specifically through control/reduction, acceptance, avoidance and sharing of risk
  • Review optimum risk strategies based on supplier profile and commodity
  • Exercise: Develop risk treatment strategies based on organizational risk appetite and use of supplier’s products and services 

Risk Life cycle Step #6: Communicate and consult

  • Communication loops
  • Types of supplier monitoring
  • ISO 9000 and other supply management standards
  • Develop an action plan to implement supplier risk management
  • Exercise: Assess suppliers for risk
  • Case study: Supplier monitoring and auditing

Your next steps

  • Develop plan for implementing project risk management
  • Exercise: Discuss and evaluate supply chain risk plans

CLASS CANCELLATION:

IIE reserves the right to cancel a class up to 15 business days prior to the scheduled start date

 

registration fee

Member: $795
Non-Member: $1,145

course schedule

No courses scheduled, contact Larry Aft for availability


 
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