How to enhance your supply chain risk assessment process

Risk assessments can help your company address security concerns within the supply chain by analyzing external threats against company procedures and identifying vulnerabilities.  

Your company’s risk assessment should: 

  • Include personnel screening and security training to ensure company-wide compliance 
  • Consider the risk your partners bring into the supply chain 
  • Develop protocol to mitigate agricultural risks, such as investigations for pests that could cause delays or additional costs 
  • Account for natural disasters, political events, and other anomalies 

Risk Assessment Process 

  1. MAP THE SUPPLY CHAIN – Gaining an understanding of the flow of information and goods throughout the supply chain and identifying business partners who play a role in transportation and manufacturing 
  1. THREAT ASSESSMENT – Assessing the threat levels associated with various risks including terrorism, smuggling, agricultural threats, and other issues depending on the regional or country-level context 
  1. VULNERABILITY ASSESSMENT – Identifying vulnerabilities within the supply chain, such as access points to critical data or goods that might be of interest to criminals 
  1. ACTION PLAN – Preparing a plan and policies to address identified threats and weaknesses 
  1. DOCUMENTATION – documenting the process for risk assessments, reviewing the process and auditing annually at a minimum 

The development of a comprehensive risk assessment is critical to achieving supply chain security and is particularly important for members of the Customs Trade Partnership Against Terrorism (CTPAT). CTPAT members are required to maintain risk assessment protocols and procedures.  

CT Strategies can assist in developing Risk Assessment processes aligned with CTPAT program requirements for members, aspiring members, or companies hoping to improve their supply chain security. We leverage the extensive experience of our team, which includes former Directors of the CTPAT program, to aid throughout the CTPAT certification and validation process. 

In addition to our customized solutions, we also offer training courses on our online e-learning academy. Our latest course, led by former CTPAT Director Ron May, provides information and best practices for companies preparing to complete validations, with special attention to the New Minimum Security Criteria. 

For more information on improving your supply chain security and conducting validations as a CTPAT member, please reach out at info@ct-strategies.com or visit https://ct-strategies.com/