UGC Approved Journal no 63975

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 6 Issue 6
June-2019
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIRDG06007


Registration ID:
221891

Page Number

46-50

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Title

THIRD PARTY RISK MANAGEMEMENT IN SUPPLY CHAIN:

Abstract

In supply chain third part risk awareness, risk management, business continuity, planning, disruption, handling there seems to be consensus, that supply chain at its simplest degree of complexity, which comprises of three entities, an organization supplier, and customer in the upstream, and downstream, the flow of product services , necessary finance, and information in supply chain. Key characteristics of third part risk logistics management is the coordination activities between the organization in supply chain. Third party risk management is the process of analyzing, and controlling risks in supply chain presented in the company, data, operations, finances, by the parties other than the self company. Despite the third party risk global supply chain remain crucial to the success of many reputed organizations in supply chain. The pressure to reduce costs, with the advent of globalization, digitization transportation very few organization operate with their resources, and they have become so relevant with numerous levels of supply chain from suppliers they source raw materials, from distributors, and distribute their products in the market with transportation and services providers who assist them. Many large volumes of raw materials, components, technology products, service and information are moved across, and new opportunities, and greater efficiencies also bring in complicated relationship leading to higher risk supply chain, and other 3rd party risks, are understandably capturing increased attention. The potential repercussions of disruptive natural and human aided events whether isolated or simultaneously highlight the importance of planning for managing such risks, and the companies that have identified these risks in advanced and planned for these contingencies are the ones best positioned to survive the disruption that result when third party risks exists. Most companies rely heavily on third party for supply of raw materials, and good vendors in order to meet the requirement of the contractual obligations, and consumer demand, this is which include, as domestic companies are found also liable for illegal actions of their suppliers.

Key Words

THIRD PARTY RISK MANAGEMEMENT IN SUPPLY CHAIN:

Cite This Article

"THIRD PARTY RISK MANAGEMEMENT IN SUPPLY CHAIN:", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 6, page no.46-50, June 2019, Available :http://www.jetir.org/papers/JETIRDG06007.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"THIRD PARTY RISK MANAGEMEMENT IN SUPPLY CHAIN:", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp46-50, June 2019, Available at : http://www.jetir.org/papers/JETIRDG06007.pdf

Publication Details

Published Paper ID: JETIRDG06007
Registration ID: 221891
Published In: Volume 6 | Issue 6 | Year June-2019
DOI (Digital Object Identifier):
Page No: 46-50
Country: -, -, - .
Area: Engineering
ISSN Number: 2349-5162


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