What is Risk Management?

Risk Management Definition

Risk management is the action or practice of making and executing actions that will mitigate the negative effects. It involves identifying a risk, evaluating the situation, and then acting or proceeding in a manner that will help the outcome become more favorable. When referring to supply chain risk management, it can relate to logistics disruptions, material availability, natural disasters, and/or other risks associated with keeping materials and product moving throughout the supply chain.

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