Risk Management in Supply Chain. Business & Marketing

Risk Management in Supply Chain
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Risk Management in Supply Chain
Every organization needs to have a supply chain to facilitate it business activities. The supply chain is merely the sequence of actions in the production, distribution, and consumptions of products (Stadtler, 2015). Supply chain management is also characterized with a lot of risks factors that might affect it negatively. It thus calls for the need of control of uncertainty in the supply chain. This paper thus delves to assess and critically evaluate the article of Understanding and mitigating supply chain fraud by Patterson, Goodwin & McGarry.
The understanding and mitigation of supply chain fraud are well discussed by the authors who have given a contenting background and knowledge of the supply chain. First, the primary supply chain is well described including the inputs, transformation, and outputs which are the core components of the supply chain (Patterson, Goodwin & McGarry, 2018). There are also many views of the supply chain which are well related in the article, for example, the resource-based view, relational view, practice-based view (Patterson, Goodwin & McGarry, 2018).
There are some sectors which the supply chain fraud is likely to happen. Some of the potential areas as described in the article include requisitioning and purchasing or example supplier selection management and purchase orders. Some other sectors that are represented include storage and inventory, inbound transport, ordering, packing and shipping, production and transformation, inbound transportation and invoicing and accounts payable. The authors have covered all the potential sectors where the supply chain fraud can happen which could be an interest in the risk management.
Supply chain fraud is also defined vividly as a breach of confidence per prated for profit gain or to gain an unfair advantage (Patterson, Goodwin & McGarry, 2018). The article also explains why...