Supply Chain Risk Management

Supply Chain Risk Management

Learn how your organization can benefit from supply chain risk management. 

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Supply Chain Risk Management

Supply chains are complex ecosystems and their complexity keeps increasing. At the same time, the risk landscape is ever more interconnected and the challenges posed by intangible risks are on the rise.

How to Navigate Supply Chain Risk Management

To manage the threats to business operations posed by supply chain disruption - and importantly from secondary risk events such as reputational risk, companies need to be able to navigate risk events from across their extended supply chain ecosystem.

To respond to supply chain disruption, companies need data, analytics and insights to inform a holistic approach to supply chain risk management.

There can be benefits from implementing a data-driven, holistic approach to supply chain risk management. These can include improved supply chain resilience, enhanced risk transfer and insurance solutions. It can also support strategies to mitigate uninsurable risks, and a better understanding of the impact on key financial metrics such as shareholder value.

Aon’s Holistic Supply Chain Risk Management

At the centre of Aon’s holistic approach to supply chain management is the AI-led Risk Indicator tool. Aon’s Risk Indictor tool analyzes over 80,000 sources from over 200 countries. It can enhance supply chain risk management through predicative emerging risk intelligence, reputational risk analysis, and by providing visibility across the supply chain risk management ecosystem.

  • Predicative Emerging Risk Intelligence

    Frequency analytics show how different risk events occur across sectors and geographies.

    Country and region comparisons reveal areas of potential risk concentration. Trend data and risk frequency over time reveal the changing behavior of risks.

  • Reputational Risk Analysis

    The Risk Indictor can reveal areas of potential risk concentration. To assess the impact of supply chain risk events on key financial metrics such as shareholder value, it also illustrates the variability of potential losses including the delta between firms deemed ‘winners’ and ‘losers.’

  • Supply Chain Risk Management Ecosystem

    The Risk Indictor’s predictive risk intelligence drives visibility across the supply chain risk management process from risk theme identification, reputational risk scenarios and financial quantification, through to post-event analysis and value recovery audit.

These data outputs are a valuable source of intelligence to build effective risk transfer and insurance solutions.

Visibility into Supply Chain Risk Management

Aon’s Risk Indictor and holistic approach to supply chain risk management deliver the data-driven insights to help companies make better informed decisions across their supply chain risk management process. This helps them to respond to potential supply chain disruption.

By identifying potential primary and secondary risks, companies can minimize disruptions to the flow of goods and materials. This can help to maintain business continuity and prevent significant financial loss. A clear understanding of supply chain risks also ensures better decisions about supply chain strategy such as choosing suppliers, inventory strategies, investments to additional capacity or diversifying supply chain.

  • Effective Risk Transfer Solutions

    With Aon’s Supply Chain Risk Diagnostic Tool and analytics driving visibility across the supply chain ecosystem, companies can better identify and quantify their risk exposure. This enables the development of insurance solutions that strive to achieve an optimum risk transfer.

  • Mitigate Intangible Supply Chain Risks

    Threats to the supply chain can lie in secondary risk events. With the visibility afforded by a data-led, holistic approach to supply chain risk management companies have the knowledge and detail they need to put in place better strategies to mitigate the effects of uninsurable risks.

  • Combined Capabilities of Risk Management and Risk Transfer

    Leveraging Aon’s global capabilities, our approach to supply chain risk combines risk transfer strategies with supply chain risk consulting, dedicated reputational risk consulting and evaluation expertise including business interruption. Clients can benefit from integrated risk management strategies derived from industry-specific best practice combined with Aon’s supply chain expertise.

  • Access Peer Benchmarking

    The results from Aon’s supply chain risk diagnostic provide a framework to benchmark improvements and changes to your supply chain risk management. We also help you to compare results through our proprietary peer data and industry information.

  • Rapid Response to Loss Events

    Effective planning and preparation, plus a timely response to any supply chain outage, is critical to managing any challenges successfully. Aon’s global claims services can help you respond rapidly to supply chain disruptions and get timely insurance recoveries, helping to minimize the operational impact and mitigate any related financial consequences.

  • Enables Ongoing Risk Monitoring

    The Risk Indicator uses standardized analytics, which means that risk events and perils can be assessed on fact-based basis rather than assumptions. This helps to undercover the underlying causes of supply chain and business interruption issues.

Aon’s holistic approach to supply chain risk management can help companies improve their supply chain resilience by delivering the risk intelligence to put in place enhanced risk transfer and insurance solutions.

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