November 2, 2009
It is mind-boggling to consider what it takes to produce the products we depend on – critical drugs like blood thinners, plastic-based products such as syringes, isotopes for medical imaging, and milk-based baby formula. Or maybe your livelihood depends on your ability to transport products, on your customers having access to your online order entry system, or on the timely receipt of parts from their suppliers on the other side of the world. The occurrence of a single point of failure – whether a product contamination, labor strike, trade credit crunch, an earthquake, or a health crisis – can interrupt the flow of goods and cause total systemic failure.
Written by internationally recognized industry veteran Gary Lynch, Single Point of Failure: The Ten Essential Laws of Supply Chain Risk Management reveals just that – the ten vital laws to successfully identifying, measuring, mitigating, and financing risk, with guidance for establishing your organization’s supply risk management program, avoiding bad decisions, and gathering better information and data to make good decisions.
Here, you’ll discover:
- How to establish your organization’s supply risk management program
- Why no risk strategy is a solution for bad decisions
- What causes supply chain risk management demand to trump supply
- The sourcing strategies that create more risk, not less
- Why managing the parts does not equal managing the whole
- What the best policy is for knowing what’s in your policy
Believing that all is well is a self-deception. You need to continually analyze and evaluate the risks to your supply chains and business networks, determine and learn the root cause of problems, and decide whether you have the proper philosophy, culture, and systems in place to identify, measure, mitigate, and finance risk. Addressing risk from several points of view, single point of failure authoritatively guides you in how to remain agile to avoid risk, be resilient to respond, adapt and absorb risk, develop methodologies that are sustainable to scale, and maintain risk solutions.
Gary S. Lynch, CISSP, is an Author, Managing Director and Global Leader of Marsh’s Supply Chain Risk Management Practice. He has contributed to the World Economic Forum (WEF) Global Risks Report, been a speaker on pressing global business risk issues for organizations such as Asia Pacific Economic Cooperation (APEC / Singapore & Australia), Risk and Insurance Management Society (RIMS), the World Customs Organization (WCO / Brussells), and The Wharton School, Center for Risk Management and Decision Processes. He also leads Marsh’s Global Pandemic Response Center. He works as a management consultant, specializing in helping senior executives solve complex business risk issues. He has developed critical thought leadership and solutions around emerging risk issues, including supply chain risk management and financing, information protection strategies and schemes, value chain risk strategies, cyber/IT-risk, business resiliency and continuity, and pandemic preparedness. He is internationally recognized and has held executive operational and IT risk positions at Booz Allen Hamilton, Chase, Prudential, and Ernst & Young. He is a pioneer in helping companies use his leading-edge methodology to transform their risk management programs. Gary is the author of At Your Own Risk (Wiley) and has appeared on NBC Nightly News, Bloomberg TV, ABC, and CNBC, and has been published in CEO Magazine, Shanghai Business Review, and CIO Insights.