End-to-end process for identifying, assessing, mitigating, and monitoring supply chain risks through proactive quality management, analytics-driven decision-making, and stakeholder collaboration.
Type: Fill Checklist
In this initial step of the risk management process, potential risks to the organization are identified. This involves a thorough examination of the company's operations, including all internal processes and external factors that could impact its success. A risk assessment is conducted to identify areas where potential losses or damages can occur. This includes assessing not only physical assets but also intangible ones such as reputation and data security. The goal of this step is to create a comprehensive list of potential risks that the organization may face, allowing for the development of strategies to mitigate these risks in subsequent steps. By identifying potential risks early on, businesses can proactively take measures to minimize their impact, ultimately protecting the company's assets and interests.
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