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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.

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!

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.

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:

  • understand the definition of risk management including differentiating between reduction, elimination and mitigation of risk

  • follow a five-step approach including scope, impact, alternatives, plans and readiness

  • create supplier risk profiles focusing on such factors as relationship, performance, people, environment and financial health

  • compare and contrast the six risk categories of financial, operational, reputation, legal, environmental and technical

  • apply the Law of Agency and when to involve legal counsel in supplier risk matters

  • review the Sarbanes-Oxley (SOX) legislation and how it applies to customer-supplier relationships

  • 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

  • differentiate the five phases of the Product Life Cycle (PLC) and how to access risk in each phase

  • understand the risk effect of hazardous waste including a review of the Resource Conservation and Recovery Act (RCRA) which categorizes the various types

  • develop contract language that minimizes the risk associated with hazardous waste violations

  • review key audit issues including reporting and certification

  • minimize the risk associated with sexual discrimination or harassment of employees including the key compliance laws

  • 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.

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:

  • 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.

  • 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.

  • Chapter 3: Review Points: A summary PDF of the key learning outcomes to be studied prior to attempting your online assessment.

  • 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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How to Apply

Enroll in the Pro-D Supply Management (Procurement) Track directly on the BMTG e-learning Academy for only US$399 + VAT and gain automatic access to the course. Start enhancing your procurement skills today!

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