Deploying Risk Management - The APICS Chicago Chapter PDF
Preview Deploying Risk Management - The APICS Chicago Chapter
Supply Chain Management Deploying Risk Management Basic Steps Toward Integrating Supply Chain Risk Management Practices Richard Gendon APICS-Chicago Webinar June 25, 2013 Today’s Webinar The Groundwork Defining Risk Why iSCRM Beyond Catastrophe Inherent Risk The Difference Between ERM & SCRM & why SCRM with ERM What Others are Doing The A Ha Moment Major - um processes & functions Heat map What are the tools Primary Tools SC Resilience There will be disruptions X-functions & fast flexible equipment Risk Database – risk register Specific RM Tools Center for Professional Management Today (continued) What are the tools ) (continued Risk Frameworks Specific RM Tools Risk ID, Tracking and Mitigation Probability Steps Define Risk Appetite Measurement TTT Roll-out & Embed It is Risk Management Discrete risks can, and often should be reduced Important to understand that in aggregate, risk is necessary Risk Management is a financial tool Compare to other financial mgt functions It’s about profit and profitability Need for integration Recommendations, Conclusion & Summary Center for Professional Management Definition & Context Center for Professional Management Definition of Terms Risk Management is… Having the ability to handle uncertainties in a way that allows us to make rational decisions regarding them. • Uncertainty not quantified • Risk quantifiable Center for Professional Management The Challenge Identify meaningful Uncertainties and convert them onto Risk using Probability tools Uncertainty Risk Center for Professional Management Definition of Terms Risk Management is… R M Center for Professional Management In the Context of Business Risk Management should be… At the least, RM Center for Professional Management In the Context of Business Risk Management should be -- In general, M R Center for Professional Management In the Context of Business Ideally, Risk Management should be -- M R Integrated Risk Management the integrated management of risk Center for Professional Management
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