The secret to risk management is closer to being revealed

Globalization, tightening supply markets, and lean management approaches have increased your exposure to risks. But the experiences of top-performing enterprises like Hewlett-Packard, Dow Chemical, and Hess Corporation suggest that successful risk management requires focusing on the risks you can control — like monitoring daily operations, improving demand forecasting, and using risk–reward agreements.

TIM MINAHAN Procuri Inc, Blogmaster for www.SupplyExcellence.com.