The first step in assessing your supply chain risk is to map your business operations and those of all links in your supply chain. It is important to gather information on raw materials to the point of origin. In this process, you develop an understanding of the various tiers in your supply chain.

Your procurement department should be able to provide the information on supply chain traceability. If there are gaps in your supply chain knowledge, conduct supply assessments to gather information from your direct suppliers to discover your indirect suppliers.

Traceability is critical to assessing risks in your supply chains. There are various emerging technologies that can facilitate traceability and improve transparency.