Risk management is a critical aspect of efficient supply chain and logistics operations.
Logistics faces various risks, including delays, damage, theft, and natural disasters.
The first step is identifying potential risks in the supply chain, from supplier to customer.
Develop strategies to reduce the impact of risks, such as contingency plans and insurance.
Assess the reliability and performance of suppliers and vendors to minimize risks.
Embrace technologies like IoT, GPS, and real-time tracking for better risk control.
Create resilient supply chains that can adapt to unforeseen challenges.