New Supply Chain Risk Management Standard published by ASIS International

Posted On 23 May 2014
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ASIS International has issued a new standard to help organisations address operational risks in their supply chains, including risks to both tangible and intangible assets. Developed by a global, cross-disciplinary technical team in partnership with the Supply Chain Security Council, the ‘Supply Chain Risk Management: A Compilation of Best Practises’ Standard will serve as a practitioner’s guide to Supply Chain Risk Management (SCRM) and associated processes for the management of risks within a given company and its end-to-end supply chain. This guidance Standard is a compilation of current Best Practice techniques. It presents a generic approach to risk and resilience management that’s applicable to all types of risk and all types of organisations. Assessment and control of risk events SCRM is a vital process for organisations reliant upon extended operations” both internal and external” for their success. It involves the assessment and control of risk events at all points in an end-to-end supply chain, from sources of raw materials through to end use by customers and consumers alike. ” In today’s global economy, all organisations have critical dependencies and interdependencies,” explained Dr Marc Siegel, commissioner of the ASIS Global Standards Initiative.” Therefore, to build a resilient business it’s essential to understand the organisation’s supply chain and how risks within the business and its supply chain impact the achievement of objectives.” Dr Siegel added:” Based on the experiences of both large and small organisations, this is the first standard to provide practical guidance around managing risks in the supply chain to increase the resilience capacity for businesses and create value.” The SCRM Standard will help practitioners anticipate, prevent, protect, mitigate, manage, respond to and recover from potentially undesirable and disruptive events, as well as identify opportunities. However, ASIS International points out that the best strategy for addressing risk events will be determined by the organisation’s context of operations, its risk appetite and the results of risk assessments. Adoption of this standard should build on rather than supplant existing specialised risk programmes.

About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute's George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014 and as Editor of The Paper (Pro-Activ Publications' dedicated business newspaper for security professionals) in September 2015. Brian was appointed Editor of Risk Xtra at Pro-Activ Publications in May 2018.