Supply-chain risk management

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Over the last 10 to 15 years, many companies have reduced their business costs and expanded their product lines though an aggressive supply chain strategy. Low-cost country sourcing, multi-tiered supplier networks and business process outsourcing are among the supply chain initiatives that companies, large and small, have employed. The benefits of these initiatives are apparent — companies are able to reduce the cost of goods, develop new markets, and free-up resources to focus on core value-adding activities. However, these benefits are often accompanied by greater supply chain complexity and exposure to new risks.
 

  • I am increasingly sourcing from countries and regions I am not familiar with and where social and reputation risks are increasingly catching the attention of stakeholders.
  • How do I make sure that this will not jeopardise my overall business objectives?
  • How can I be sure that contractors will adhere to our company's code of conduct and CSR policy?
In response, PwC has developed an integrated set of diagnostic tools and related services that help clients identify, prioritise and address supply chain risk. Our capabilities address three critical areas:

Supply-chain risk assessment

At every stage in the process — developing a sourcing and supply-chain strategy, selecting suppliers and partners, managing established relationships and processes, or even discontinuing a relationship or process — risks need to be acknowledged and effectively managed. PwC helps companies to make an inventory of these key risks; to evaluate their potential impact, using established and tested risk-quantification tools; and to assess the likelihood of their occurrence.

Design of frameworks for supply-chain risk management

PwC can help companies that have conducted an assessment of their supply-chain risks to design an appropriate risk-control framework. Our methodology, which is based on the enterprise risk-management framework developed by the Committee of Sponsoring Organisations of the Treadway Commission (COSO), systematically considers each of the components required for effective risk management — internal environment, business objectives, event identification, risk assessment, risk response, control activities, communications and monitoring procedures.

Supply-chain risk mitigation

One of the most challenging aspects of supply-chain risk management is ensuring the proper implementation and continued application of an effective risk-control framework — procedures, training, monitoring and reporting. Companies that have identified their key risks and defined the appropriate responses require adequate capabilities and the organisational discipline to implement the risk-control framework effectively. PwC helps clients to implement effective risk-mitigating activities and controls by providing training and monitoring services.

 
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