Technological and Human Risks to Supply Management
Purchasing and supply management are central activities at many organizations. Interdependencies are increasing but the complexity of risks and evolving threats to supply chains are often increasing faster. Greater understanding of potential financial losses, customers leaving, business interruptions, inventory problems and other risks caused by technological and cybersecurity events is important. This presentation will explain how data security failures, technological vulnerabilities and human factors can damage supply management systems and cause significant liabilities. Solutions to reduce risks will be discussed.
Austin Morris Jr.
Morris Risk Management LLC
About the Speaker:
Austin Morris, Jr. is president of Morris Risk Management LLC. MRM LLC provides a full portfolio of insurance products and services in addition to advanced risk management solutions. MRM LLC specializes in cyber liability insurance, technology errors & omissions insurance and provides advice and training on related cybersecurity matters. MRM LLC frequently participates in regional and national cyber risk and cybersecurity communities. Austin earned a Bachelor of Arts in economics from Southern Methodist University. He earned Master degrees from The Pennsylvania State University, in University Park, and Rutgers, The State University of New Jersey, in New Brunswick. Previously he was an executive vice president for a leading technology company.
Supply Chain Risk Management
Our transition into a global economy has created tremendous opportunities, but as the Supply Chain has grown increasingly more complex and resources are stretched thin, it also opened up businesses to risks that were inconceivable in the past. The more successful companies have realized that a more holistic approach to supplier sourcing and relationship management, integrated into the procurement process to manage integrity, service and Total Cost of Ownership should be implemented.
This session will address the risks and discuss the best practices for developing Supply Chain Risk Mitigation strategies, starting with product development and continuing through the product life cycle. Some of the questions that will be answered include:
* Where do I start?
* What are my options?
* How do I quantify risk?
* How do I get Senior Management support?
* What tools are available?
* How can I reduce risk and cost at the same time?
Jack Solomon, Head of Supply Chain Services
Core Risks Ltd., LLC.
About the Speaker:
Jack Solomon is the head of Supply Chain Services at Core Risks Ltd. LLC (CRL), a global provider of specialized consulting services to a variety of business sectors. Prior to joning CRL, he spent over 30 years in Supply Chain and Finance in various industries, including 20 years in Life Sciences, holding executive level positions with major companies.
Jack’s practice focuses upon helping clients identify the risks and opportunities inherent in their Supply Chain, developing and maintaining a robust Supply Chain and implementing sustainable Enterprise Sourcing and Procurement processes. He has experience teaching APICS certification training classes and is a frequent speaker on an integrated approach to managing risks in the supply chain and aligning goals to improve quality, increase sales and reduce the Total Cost of Ownership.
Jack is also a Co-Leader of a joint Xavier/FDA/Industry initiative developing Good Supply Practices (GSP) for Medical Devices and Pharma/Biotech. Participants represent 35 Life Science firms ranging from small, private businesses to large multinationals.