ASIS International this week released a new standard to help organizations address operational risks in their supply chains, including risks to tangible and intangible assets.
According to a statement, the standard, dubbed "Supply Chain Risk Management: A Compilation of Best Practices (SCRM)," was developed by a global, cross-disciplinary technical team in partnership with the Supply Chain Security Council. It will serve as a practitioner’s guide to SCRM and associated processes for the management of risks within the organization and its end-to-end supply chain.
“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,” said 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.”
Additionally, the SCRM standard will help security 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.
For more information about the SCRM standard, click here.