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High visibility and simplicity ''important in supply chains''

18 May 2011
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High visibility and simplicity ''important in supply chains''Supply chains should have strong levels of visibility both up and down stream and should be simplified to reduce complexity.

These are claims made in a new article by an expert from Marsh, who has stated that continuous improvement approaches can help to enhance this area of business as the range of risks facing organisations ranges from liquidity to natural disasters.

Gary Lynch, leader of the company's Global Supply Chain Risk Management Practice, stated establishing accountability for risk, understanding suppliers' chains and covering non-physical damage should be other approaches that are adopted by operations managers.

Entitled Risk Spotlight: Managing Supply Chain Resiliency in an Increasingly Risky World, he explained in the article that supply chain risk management should involve creating a business case for any investment considered that measures the impact against financing and risk mitigation options.

Interdependencies and levels of supply chain interdependence should be closely monitored, Mr Lynch stated, adding: "Organisations operating in today’s global marketplace are exposed to a host of increasingly complex and interrelated risks."

In the wake of the March 11th earthquake and tsunami in Japan a number of companies saw their supply chains disrupted by the crisis.ADNFCR-3058-ID-800547540-ADNFCR
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