Pro-D Supply Management (Procurement) Track
Module 3
Managing Risk in the Supply Chain
Module Summary
Risk Management is defined as: “directing or conducting the activities necessary to reduce, eliminate or mitigate the factors that could lead to injury, loss, damage or failure.”
What do the events: fires, earthquakes, tornadoes, tsunamis, labor strikes and political upheavals have in common? They can all pose risk in the Supply Chain.
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A second key question is what is the difference between risk and uncertainty? Risk is quantifying the financial impact of a bad event multiplied by the percentage of probability that this bad event will happen and uncertainty is even worse, in that you do not know and/or are not prepared for the bad event if/when it happens!
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Although traditionally organizations have had a formalized effort to manage customer risk (the client goes to the competitor, does not pay and/or goes out of business), this course will give you pertinent techniques to manage a relatively new challenge in the Supply Chain, the risk of negative events coming from your suppliers.
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To round out this course, you will have the opportunity to complete a 50-question quiz to test your knowledge and apply what you learned. Successfully pass this module and the other 5 modules to earn your Certificate of Achievement from Missouri State University
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Benefits of Attending
Upon completion of the Managing Risk In The Supply Chain course, the participant will:
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understand the definition of risk management including differentiating between reduction, elimination and mitigation of risk
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follow a five-step approach including scope, impact, alternatives, plans and readiness
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create supplier risk profiles focusing on such factors as relationship, performance, people, environment and financial health
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compare and contrast the six risk categories of financial, operational, reputation, legal, environmental and technical
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apply the Law of Agency and when to involve legal counsel in supplier risk matters
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review the Sarbanes-Oxley (SOX) legislation and how it applies to customer-supplier relationships
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review key international restriction laws such as: the Foreign Corrupt Practices Act, the International Anti-Bribery Act, Anti-Boycott Legislation and the Export Administration Act
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differentiate the five phases of the Product Life Cycle (PLC) and how to access risk in each phase
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understand the risk effect of hazardous waste including a review of the Resource Conservation and Recovery Act (RCRA) which categorizes the various types
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develop contract language that minimizes the risk associated with hazardous waste violations
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review key audit issues including reporting and certification
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minimize the risk associated with sexual discrimination or harassment of employees including the key compliance laws
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understand how to reply to employee discrimination violations and the associated financial risks from lawsuits
Self-Paced Learning
You will be provided with access to the BMTG e-Learning Academy which will guide you through Module 1: Fundamentals of Supplier Relationship Management.
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To ensure a smooth learning experience, each Module is presented as a comprehensive "Course Book" within the user-friendly BMTG e-Learning Academy.
The Course Book is divided into four chapters, providing you with in-depth study materials and practical insights.
Here's what you can expect in each Course Book:
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Chapter 1: Learning Objectives: Three downloadable PDFs serves as your study materials offering detailed information on the course topic comprising of a set of learning objectives that you can refer to it at your own pace, allowing you to absorb the content effectively.
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Chapter 2: PowerPoint Slide Deck with Audio: As an additional learning resource, the PowerPoint Slide Deck is accompanied by audio narration to guide you through the study materials. This audio-led approach ensures a dynamic learning experience.
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Chapter 3: Review Points: A summary PDF of the key learning outcomes to be studied prior to attempting your online assessment.
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Chapter 4: 50 Question Multiple Choice Assessment: To assess your understanding of the course content, each Course Book includes a 50-question multiple choice assessment. The passing score for the assessment is 65%, thereby ensuring you have grasped the core concepts effectively. You will be able to take and retake the assessment until you pass.
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