What are the possible risks in supply chai that businesses have to learn to manage?

[Min George]

Supply chain is a vital lifewire of small businesss. And they must be managed properly to keep the business running optimally. What are the possible risks in supply chain management that businesses have to understand and make preparations for?

 

[Augusta]

Businesses must navigate a multitude of potential risks within their supply chains. like natural disasters, supplier risks, cybersecurity threats etc

 

[Kera]

Supply chain can be disrupted as a result of natural disasters. And that would affect production of there are no viable alternatives.

 

[eLdavis]

There could be environmental risk, natural disaster like floods and the likes can disrupt supply to the business.

 

[Augusta]

Changes in exchange rates can affect the cost of imported goods and materials, impacting profitability.

 

[serki777]

The risks in supply chain are multiple: from transport delays and sudden price increases, to lack of supplier transparency and unfavorable contract clauses. What many entrepreneurs underestimate is how important the “source-to-contract” part really is – meaning from supplier selection all the way to signing and monitoring contracts. I have worked directly with Scanmarket and managed to standardize the process and significantly reduce the risk of errors or disadvantageous negotiations.

 

[Augusta]

Suppliers located in unstable regions may face disruptions from conflict or trade restrictions.