by Brianna Crandall — September 1, 2014—ASIS International has released a new standard to help organizations address operational risks in their supply chains, including risks to tangible and intangible assets. ASIS, a worldwide organization for security professionals, is an ANSI Accredited Standards Developer.
Developed by a global, cross-disciplinary technical team and in partnership with the Supply Chain Security Council, the Supply Chain Risk Management: A Compilation of Best Practices Standard (SCRM) will serve as a practitioner’s guide to SCRM and associated processes for the management of risks within an organization and its end-to-end supply chain.
This guidance standard is a compilation of current best practices. It presents a generic approach to risk and resilience management that is applicable to all types of risk and all types of organizations. An Executive Summary (PDF) is available online; ASIS members get one free download.
Supply chain risk management is vital for organizations that rely on extended operations, both internal and external, for their success, notes ASIS. It involves the assessment and control of risk events at all points in an end-to-end supply chain, from sources of raw materials to end use by customers and consumers.
“In today’s global economy, all organizations have critical dependencies and interdependencies. Therefore, to build a resilient organization it is essential to understand the organization’s supply chain and how risks within the organization and its supply chain impact the achievement of objectives,” says Dr. Marc H. Siegel, commissioner of the ASIS Global Standards Initiative. “This is the first standard to provide practical guidance, based on the experiences of both large and small organizations, about managing risks in their supply chain to increase their resilience capacity and create value.”
The SCRM Standard will help practitioners anticipate, prevent, protect, mitigate, manage, respond, and recover from potentially undesirable and disruptive events, as well as identify opportunities. However, the best strategy for addressing risk events will be determined by the organization’s context of operations, its risk appetite, and results of risk assessments, says ASIS. Adoption of this standard should build on rather than supplant existing specialized risk programs.
The New ASIS Supply Chain Risk Management Standard will be discussed at a seminar on Tuesday, September 30, 11:00-12:00 pm at ASIS 2014 in Atlanta.
