In very unambiguous terms, integrated supply chain management can be defined as an alignment of buyers, suppliers, and customers and their processes to achieve an advanced form of competitive advantage. Integrated supply chain management aims at achieving all of the above goals through better use of internal, supplier, and customer capabilities.
All projects entail risk to varying degrees, and can impact a project in several ways.
When risks are unplanned, their impact can be severe. To minimize such problems, managing risk must be a key component of project management. Preparing a Risk Mitigation Plan Risk management consists of identifying risks, assessing their probability and impact, determining ways in which to mitigate the risk, and monitoring the project for risk warning flags. It is often helpful to log risks with their associated impacts and mitigation strategies in a Risk Management Plan. Such a plan should consist of several parts - a Risk Inventory and Assessment Worksheet, and a Risk Mitigation Plan.