Accounting
Supply Chain Risk Management (SCRM) refers to the strategies, processes, and technologies employed by an organization to identify, assess, prioritize, mitigate, monitor, report on, and respond to potential disruptions in its supply chain. It involves a proactive approach to managing uncertainties, vulnerabilities, and threats that could impact the flow of goods, services, information, and finances from suppliers to customers. The goal is to ensure continuity of operations and minimize the impact of unexpected events on business performance, financial management, and supply chain management. SCRM encompasses managing risks across various functions such as sourcing, procurement, production, logistics, distribution, and customer service. By implementing effective SCRM practices, organizations can enhance their competitive advantage, improve customer satisfaction, reduce costs, and ensure long-term sustainability.
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