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Managing Supply Chain Risk [L5M2]©

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Module Purpose  
On completion of this module, learners will be able to appraise a variety of tools and techniques to establish the level of risk in supply chains and to recommend and apply ways of avoiding, mitigating or managing risk.

Module Aim
Risk management is a central part of an organisation’s strategy. It is a process whereby the organisation will identify, record and then address the risks associated with their activities with the aim of driving out or controlling those risks to the overall benefit of organisational efficiency and effectiveness. The supply chain is by its very nature a complex activity which is therefore susceptible to risk and its associated impacts. This module is designed to enable learners to examine the nature of supply chain risk and to evaluate mitigation techniques which are available to them as they deal with the associated challenges. They will undertake risk analysis and consider the advantages of a risk register as they apply a range of appropriate risk management tools and techniques to the supply chain.

CIOP

Certified Inventory Optimization Professional
CIOP is a global supply chain management and inventory management certification program exclusively developed for corporations to optimize the inventory in their supply chain. CIOP teaches the global best practices in 30 modules over 90 hours of live, faculty-led, online training. It is founded on Inventory Management Body of Knowledge (IMBoK) version 3.0. CIOP is a comprehensive program includes training, reference material, Learning Management and Assessment System (LMAS), examination and certificate.

The LMAS contains classroom presentations, classroom notes, video lessons, audio lessons, quizzes, reference materials, terminologies and articles recommended by faculty.

The CIOP Examination is 3 hours, online, proctored examination with 180 multiple-choice questions. The participant needs to secure 70% of the maximum score (360 marks) to pass in the examination.

You can learn more about the CIOP certification in the below links:
CIOP Website: https://pages.fhyzics.net/ciop 
Faculty Profile: https://pages.fhyzics.net/principal-consultant

Click here to request quote for the CIOP certification program.

CIOP Border

Fhyzics Business Consultants is an Approved Study Centre of Chartered Institute of Procurement and Supply (CIPS), UK and offering all the modules under Level-2, Level-3, Level-4, Level-5, and Level-6. During this current COVID-19 pandemic, the classes are offered in distance and self-study modes. For more questions related to our CIPS programs, please speak to our Manager-Certifications at +91-900-304-9000 or email at certifications@fhyzics.net.

Online, Instructor-Led Training Program on Managing Supply Chain Risk [L5M2] Module of Advanced Diploma in Procurement and Supply, CIPS, UK

CIPS Online Courses

Mode of Delivery: Online
Mode of Teaching: Using the Presentation Deck from CIPS, UK
Duration: 3 Hours
Faculty: Venkadesh Narayanan, CIPS Recognized Instructor
Reference Material: L5M2 Study Guide
Level-5: Advance Diploma in Procurement and Supply

managing-supply-chain-risk

ebook-CIPS  Online Books

Managing Supply Chain Risk - LEARNING OUTCOMES

1.0 Understand the nature of risk affecting supply chains
1.1 Define the different types of risk that can impact on supply chains
• Definition of risks, hazards, exposure and risk appetite
• Positive and negative consequences of risk
• Direct and indirect losses
• Internal and external sources of risk
• Categories of risk: financial, strategic, operational and hazard
• Risks from the wider environment: STEEPLED - social, technological (failure including cyber risks and crime), economic, environmental, political, legislative, ethical (labour standards and sourcing aspects) and demographic
• The nature of fraud in organisations and supply chains, why fraud takes place and different types of fraud
1.2 Assess operational risks in supply chains
• Contract failure
• Financial risks such as currency, supplier cash flow and insolvency
• Quality failure
• Security of supply
• Technology
• Logistics complexity
• Risks in outsourcing and offshoring
1.3 Compare methods for eliminating bribery, corruption and fraud in supply chains
• Define bribery, corruption and fraud in organisations and supply chains
• The different types of corruption
• The different types of fraud
• Legislation affecting bribery and corruption
• The use of ethical codes including the CIPS Ethical Code
• Corporate governance including corporate accountability to stakeholders
• The Sarbanes-Oxley regulations
1.4 Contrast risks in supply chains that can impact on organisational corporate social responsibility and sustainability standards
• Defining corporate social responsibility and sustainability
• Assessing corporate risks and risks associated with brand
• Standards for sustainable procurement, such as; United Nations (UN), International Labour Organization (ILO), and the Ethical Trading Initiative (ETI) standards
• ISO20400 – Sustainable Procurement Standard

2.0 Understand processes in managing risk in supply chains
2.1 Examine the use of contractual remedies for managing risks in supply chains
• Indemnities and liabilities
• Ownership of IPR (Intellectual Property Rights)
• The use of force majeure clauses
• Clauses for testing, inspection and acceptance
• Global sourcing considerations and ensuring compliance to standards
• Model Form Contracts such as NEC (New Engineering Contract) and FIDIC (The International Federation of Consulting Engineers) provisions for the use of risk registers, notices and compensation events
2.2 Analyse the use of outsourced third parties in risk management in supply chains
• The use of outsourced third party providers for credit rating and other business services
• The use of outsourced third party providers for auditing risks in supply chains
• The use of outsourced third party providers for disaster recovery services
2.3 Assess the use of insurances for protection against risks in supply chains
• The use of insurance in hedging against risks
• The categories of insurance: employers and public liability, professional indemnity, product liability and trade credit
• Legal principles of insurance
• Underwriting and claims
2.4 Examine the use of contingency plans to overcome risks in supply chains
• The implications of a contingency plan
• The components of a business continuity plan and disaster recovery plan

3.0 Understand risk mitigation strategies in supply chains
3.1 Identify the use of probability and impact assessments to manage risks in supply chains
• Methodologies for assessing the probability and impact of risk
• Vulnerability assessments
• Collating statistical evidence of risks
• The use of probability theory
• Assessing the probability of events using the normal distribution
• The binomial and poisson distributions
3.2 Analyse a risk assessment and a risk register to mitigate risks in a supply chain
• The use of templates for risk assessments and risk registers
• Completing risk assessments and risk registers
• Engaging stakeholders in the development of risk assessment and registers
3.3 Explain the development of a risk management culture and strategy to improve supply chains
• International standards for risk management such as ISO 31000 and ISO 28000
• The risk management process
• External reporting of risks in corporate accounts
• Resources required to achieve improved risk management in supply chains
3.4 Compare strategic approaches to mitigate risks in supply chains
• Developing risk management strategies to mitigate risks
• Preparing a contingency plan
• Preparing a business continuity plan and disaster recovery plan


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Written by Venkadesh Narayanan

Venkadesh is a Mechanical Engineer and an MBA with 30 years of experience in the domains of supply chain management, business analysis, new product development, business plan and standard operating procedures. He is currently working as Principal Consultant at Fhyzics Business Consultants. He is also serving as President, PDMA-India (an Indian affiliate of PDMA, USA) and Recognised Instructor of APICS, USA and CIPS, UK. He is a former member of Indian Civil Services (IRAS). Fhyzics offers consulting, certification, and executive development programs in the domains of supply chain management, business analysis and new product development.

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