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What is Risk

Risk is something that every business has to take to move forward.
Without risk there is no opportunity and the saying “You have to risk it, to get the biscuit!” holds very true to this day.
However, with most businesses taking some type of risk every single day, it needs to be asked what risk exactly is.
According to ISO 310000, "risk" defined as the impact of uncertainty on specific objectives. 3
 
 

Supply Chain Risk Categories

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Supply Risks

"Supply risks pertain to risk events on the supply side that include supplier defaults or other unexpected changes in supply cost, delivery, quality or reliability." 4, p. 23

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Process Risks

Risks within a companies own Supply Chain and the Processes within this Supply Chain 4, pp.24ff
 

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Control Risks

Misapplicatoin of rules controlling supply chain processes e.g. order quantities. 18, pp.10-11

 

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Demand Risks

The uncertainty of Product Demand is universal challenge for all companies in all fields of business. 4, pp.26ff

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Natural Risks

Risks arising from uncontrollable natural events, e.g. earthquakes or weather-related disaster. 18, pp.11-13; 20, p.5

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IT Risks

Especially in a highly digitized business environment, an IT system failure anywhere can cause a failure everywhere. 20, p.5; 21, p.56

 

Risk News

Titel Beschreibung Quelle Veröffentlicht
EC looks to force market’s hand in euro clearing battle

Industry exasperated as commission proposes new mandates and capital penalties for banks clearing in London

https://www.risk.net/risk-management/7941596/ec-looks-to-force-markets-hand-in-…
Op risk data: Allianz dealt a $4bn blow for not-so-Alpha Funds

Also: Credit Suisse cops two cartel shops; banks get slapped in gender pay gap. Data by ORX News

https://www.risk.net/comment/7939401/op-risk-data-allianz-dealt-a-4bn-blow-for-…