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Major Videocast: Ford's New Approach to Supplier Risk Management
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Title:
Ford's New Approach to Supplier Risk Management
Auto Giant Adopts Risk Exposure Index Methodology, a Quantitative Approach to Measuring and Reducing Supply Chain Risk
Date: Tuesday, Dec. 3, 2013
Time: 11:30am EST, 10:30am CST, 9:30am MST, and 8:30am PST
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Abstract:
Most firms are exposed to a large and growing variety of risks that may disrupt their operations and supply chains. These risks are often difficult to quantify and therefore hard to manage, posing potentially significant threats a company's financial performance and it market position.
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Lacking sufficient tools to examine these risks rigorously, managers often deploy suboptimal mitigation strategies, leaving their companies dangerously exposed to some risks while squandering resources to mitigate other risks that do not pose a significant threat.
In this outstanding Videocast, David Simchi-Levi, Professor of Engineering Systems at MIT and Michael Sanders, Purchasing Manager at Ford, will address this critical challenge by discussing a model which allows companies to examine the impact of a disruption originating anywhere in the firm's supply chain.
This impact can be quantified using a variety of operational and financial performance metrics, including lost production, lost profits, and lost sales. David and Michael will demonstrate how Ford has applied this model to identify previously unrecognized risk exposures in order to develop effective risk mitigation actions.
Not to be missed for anyone looking to improve their approach to risk management and learn the latest technques for doing so.
What You’ll Learn/Benefits of Attending:
How a new approach - the Risk Exposure Index methodology - can be used to quantify many supply chain risks for the first time
How this new technique was adopted by Ford - and the impact it is having on their thinking about supplier risk management
The criticality of measuring and ultimately reducing "time to recovery" across the global supply chain and multiple tiers of suppliers
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Archived version will be available soon after broadcast.
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