Information risk management within supply chains.
Abimbola, Ajayi Nurudeen.
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A supply chain is an integrated process wherein different organizations combine their efforts in acquiring raw materials, transforming the raw materials into finished products and delivering the finished products to the final consumers. Organizations are continuously searching for means to reduce costs and simultaneously making effort to enhance the quality of their products, and ultimately satisfying customers’ demand. There are three major components essential to achieving these: information flow, cash flow and material flow. In this research, we evaluate modern competitive global market, where it is challenging for any organization to function in isolation of its trading partners, and where organizations need the enhanced flow of information as well as an easier, reliable and faster access to the necessary information; as information has been identified as the foundation upon which decisions regarding the other supply chain process and activities are made, and is the link between all operations in any supply chain. This research considers the supply chain as a concept which is centred on the development of a value chain network. This network consists of entities that are committed to providing information, cash and resources in order to achieve the goals of an effective supply chain. In the global economy, this network is expanding, and this expansion is causing the extent of information flow in the supply chain to increase and hence become complex. The increasing length of information flow in the supply chain and the complexity of the value chain network are presently exposing information within the supply chain to risk. Hence, the objectives of this research are to identify information risks and consider ways in which these risks may be managed within supply chains. This study helps in identifying what information flows and how information flows within the supply chain. It provides an understanding of information vulnerabilities and risks associated with these vulnerabilities. It also helps identify how these information vulnerabilities and risks may be managed.