Firms Embrace Radical Supply Chain Risk Management, Boosting Resilience in Volatile Markets
The article discusses the challenges faced by supply chains in today's tough competition. It emphasizes the need for firms to manage risks across the supply chain by integrating a culture of risk management. This new approach, called radical supply chain risk management, focuses on dealing with risks both internally and externally. The main idea is that firms should embed risk management practices into their strategies to address the increasing supply chain risks deriving from market changes and volatile environments. The key finding is that having a strong risk management culture helps firms effectively manage risks throughout their supply chains.