SCM Intro & Chapter 08 Flashcards

Questions and Answers

What is the definition of vulnerability, as applied in this chapter?

Conducted by one or many sources (attackers or root causes)

Supply chain disruptions could impact:

Only specific parts of the supply chain

All of the answers (correct)

Financial losses only

Supplier relationships only

General supply chain risk management and supply chain disruption prevention is based on:

General quality management and risk management concepts

What is the definition of 'Supply chain risk management'?

When capacity and intention of an adversary aligns with the opportunity to exploit a vulnerability Signup and view all the answers

Who is responsible for product fraud (including counterfeiting, stolen goods, substandard or mislabeled products)?

Is the responsibility of a company's corporate security or packaging group Signup and view all the answers

When considering total cost of ownership and total product experience (TCO-TPE), supply chain risk management is a concept developed by:

The international standards organization Signup and view all the answers

What could be the root cause of a supply chain disruption?

All of the answers Signup and view all the answers

When considering total cost of ownership and total product experience (TCO-TPE), supply chain risk management:

Is the highest priority Signup and view all the answers

What are supply chain disruptions?

Unplanned and unanticipated Signup and view all the answers

Supply chain risk is a function of considerations such as:

Threat, vulnerability, and consequence Signup and view all the answers

Study Notes

Vulnerability

Defined as actions taken by attackers or root causes causing potential harm within the supply chain.

Impact of Supply Chain Disruptions

Disruptions can affect multiple areas across the supply chain, indicating a widespread impact on operations.

Foundations of Supply Chain Risk Management

Built on principles of quality management and general risk management, merging both approaches for effectiveness.

Supply Chain Risk Management Definition

Occurs when an adversary's capacity and intention align with a specific vulnerability, creating a risk scenario.

Product Fraud Accountability

Responsibility for product fraud, including counterfeiting and mislabeled products, falls under corporate security or packaging departments.

Total Cost Considerations in Risk Management

The concept of Total Cost of Ownership and Total Product Experience in risk management is supported by the International Standards Organization.

Root Causes of Supply Chain Disruption

Disruptions can originate from various sources, highlighting the complexity and multifaceted nature of supply chain risks.

Priority of Total Cost Consideration

Supply chain risk management prioritizes Total Cost of Ownership and Total Product Experience, emphasizing their importance in decision-making.

Nature of Supply Chain Disruptions

Disruptions are classified as unplanned and unanticipated events, illustrating their unpredictable nature.

Functionality of Supply Chain Risk

Supply chain risk results from a combination of threat levels, identified vulnerabilities, and possible consequences, forming a comprehensive risk assessment framework.

Description

Test your knowledge on supply chain management concepts with these flashcards covering key terms such as vulnerability and supply chain disruptions. This set is focused on Chapter 08, Section 05, and will help reinforce your understanding of risk management in supply chains.