Technological risk
Technological risk
Furthermore there is the probability of technological risk during our supply chain in terms of system failure and breakdowns or transport infrastructure failure.
Firstly, the potential failure of system failure exists, which means that our transporting supporting systems, like digital sourcing of data, breaks down during our shipment to the Philippines. The consequence would be a huge loss of data and coordination problems for example with moving our fraught from one transportation vehicle to another. The risk of system failure could be reduced by keeping our systems updated and using the best software available. However, this only reduces the risk but does not help in terms of being prepared when a system failure occurs. Therefore, the inventory and other necessary information are supposed to be available and listed in hard copy. In case of a system failure we would be still able to have all our information and possible delays would be reduced.
Secondly, there is the potential of infrastructural failure. Infrastructural failure denotes the risk of destroyed railways, highways or other infrastructural parts of our route. Due to the fact that the typhoon destroyed the Philippines only few months ago we can be sure that important parts of the infrastructure on our route are still destroyed and therefore very difficult to cross. This will lead to high delays, unless we are not informed about our environment and the infrastructural circumstances in the Philippines. We have to be informed about the strengths and weakness of our route and be prepared when parts of our route are difficult to cross. We will send a team to the Philippines, looking for potential problems on our route and coming up with solutions for these problems. These solutions could be searching for different routes and preparing the vehicles in order to be able to cross potential barriers.
Economic risk
The mitigation of economic risk consists of data sharing platforms. As
Furthermore there is the probability of technological risk during our supply chain in terms of system failure and breakdowns or transport infrastructure failure.
Firstly, the potential failure of system failure exists, which means that our transporting supporting systems, like digital sourcing of data, breaks down during our shipment to the Philippines. The consequence would be a huge loss of data and coordination problems for example with moving our fraught from one transportation vehicle to another. The risk of system failure could be reduced by keeping our systems updated and using the best software available. However, this only reduces the risk but does not help in terms of being prepared when a system failure occurs. Therefore, the inventory and other necessary information are supposed to be available and listed in hard copy. In case of a system failure we would be still able to have all our information and possible delays would be reduced.
Secondly, there is the potential of infrastructural failure. Infrastructural failure denotes the risk of destroyed railways, highways or other infrastructural parts of our route. Due to the fact that the typhoon destroyed the Philippines only few months ago we can be sure that important parts of the infrastructure on our route are still destroyed and therefore very difficult to cross. This will lead to high delays, unless we are not informed about our environment and the infrastructural circumstances in the Philippines. We have to be informed about the strengths and weakness of our route and be prepared when parts of our route are difficult to cross. We will send a team to the Philippines, looking for potential problems on our route and coming up with solutions for these problems. These solutions could be searching for different routes and preparing the vehicles in order to be able to cross potential barriers.
Economic risk
The mitigation of economic risk consists of data sharing platforms. As