What is Risk Management?

BACK TO GLOSSARY

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.

FAQs

What is risk management examples?

Risk Management content is being added. Stay tuned.

What are the five steps in risk management process?

Risk Management content is being added. Stay tuned.

What are the 4 ways to manage risk?

Risk Management content is being added. Stay tuned.

READ OUR NEW

Software Buying Guide

Read the step-by-step guide to evaluate and buy the best software for your business.

Get The Guide

Try Our New

Cost of Mistakes Calculator

Select your inputs, specific challenges, and calculate the estimated cost impact.

Calculate Cost

SEE Arena
IN ACTION

GET A DEMO