edit 750 words paper about element of supply chain risk

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Business Finance

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20150226221105risk_in_supply_chain_management.doc   i want add a title,a reference of Michaels' source , mort detail of the example about Michaels and two more securities solution for this paper. And still keep 750 words. 

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Running Head: RISK IN SUPPLY CHAIN MANAGEMENT Risk in Supply Chain Management Institution Affiliation Date: 1 RISK IN SUPPLY CHAIN MANAGEMENT 2 Information technology is one of the specific elements or a type of risk that affects the organization supply chan. There are failure cases on the issues of the economy, geopolitical as well as environment that affects the supply chain. These risks are not much rare like the technological risk in the supply chain. Though the risks identified have effect on the organization. The major effects are due to the technological changes or disruptions along the supply chain. In the modern supply chain, information technology has become one of the crucial elements of supply chain. It is useful in offering the supply chain management with proper operations management and control of the information systems. Their failure therefore has much effect on the company or on the operations. Organizations across the global economy are at risk of compromising the supply chain due to the effect of information communication technology. There has been increasing issue of compromising on the issue of integrity, security and resilience related to the supply chain and its products and services. Quality of the information as of the product is much relying on the information technology (Lee, Padmanabhan and Whang, 2004). The supply chain in the modern economy is affected much by cyber security practices as well as internal network security. Information system security is a concern of many of the organization today and related direct from the development, production and supply. Information communication technology supply chain risk associates with the visibility into as well as understanding and control of process and decisions involved in development of products relating to the information technology as well as delivery and service of such services by the organization or stakeholders in the selected sector. There are many uncertainties associated with the information communication technologies in supply chain. The suppliers end may fail to communicate with the production or may fail the customers. The information RISK IN SUPPLY CHAIN MANAGEMENT 3 technology may probably affect the organization production of quality given that most of the processes are conducted currently using the information systems. Great companies have suffered losses associated with the fact that the information systems are sometimes open to failing the supply chain. The other issue associated with information technology is data theft where organizations have lost information regarding their production, customers as well as the whole of the supply chain. Such issue is common in that the organizations may not have secured information properly or there might some human hand in the loss of such information. Associated with the same risk is the issue of movement of goods and services from one area to another. These being the effect, it is possible that the supply chain will be prone to failures or failure to utilize to satisfy the customers as the need be. There are several real life organizations who have suffered the effect. Some of these are organizations with high ranking who suffered either the loss of information, effect of cybercrime or any other form of information system related risk in the area of supply chain. An example of a company affected by the issue in the recent past is the Michaels a retail store where in May 2013 and January 2014 the company supply chain in the side of the customers was much affected where the attacker targeted the point of sale system. The POS system eases the payments among other transaction in the retail store and that its attack meant that the transactions were not secret and customers were likely to lose their information. These affected the company and the customers in a big way. To be able to reduce or eliminate the risk of cybercrimes and the issue of information system disruption in supply chain, there is need to ensure there is improvement of security in information system. There is need for cyber security as the cybercrimes and ICT disruptions RISK IN SUPPLY CHAIN MANAGEMENT 4 increases. There is need to ensure that the employees do not engage in the issue of sabotaging the company from outside and ensure that customers are not affect by any issue that might occur in the organization. Preventions can be provided for the information systems through creating information system security. The companies can acquire tools created to protect information system disruption that might occur between different stakeholders and thus derailing the effectiveness of the organization supply chain (Chopra and Sodhi, 2012). In ensuring that the organization assures customers of security, increases their trust and satisfaction. The trust can be increased by working with different partners across the board as well as use of cyber insurance since interruption on the system is inevitable. RISK IN SUPPLY CHAIN MANAGEMENT References Chopra, S., & Sodhi, M. S. (2012). Managing risk to avoid supply-chain breakdown. MIT Sloan Management Review (Fall 2004). Lee, H. L., Padmanabhan, V., & Whang, S. (2004). Information distortion in a supply chain: the bullwhip effect. Management science, 50(12_supplement), 1875-1886. 5
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