During this extraordinarily challenging time, risk is top of mind for most operations executives. Two key elements that lead to more effective processes for dealing with uncertainty and risk are scenario planning, and evaluating whether overall strategies are sound. Frances Townsend, former Assistant to U.S. President Bush for Homeland Security and Counterterrorism, has drawn parallels between her job and that of supply chain executives. For one, you get little attention until something goes wrong. Townsend recommends identifying your risks, then acting to mitigate those you control and reduce vulnerabilities to those outside your control.
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