26 Sep Unit 9 discussion response_MT434
13683Respond or elaborate on the discussion response below:
The risk equation is simple. Risk = Probability × Impact. This means the chance of something happening times the damage it could cause. If either the chance or the damage goes down, then the overall risk goes down too. That is why the risk equation is a good tool for staying focused on what matters most. As Christopher explains, “Today’s marketplace is characterised by turbulence and uncertainty” (Christopher, 2016, ch. 14). That shows why risk planning is more important than ever.
Information sharing helps lower risk. When companies share data about demand, inventory, and delays, they can see problems early and adjust before they grow. For example, if a supplier knows about a sudden change in demand, they can ship faster or make changes without wasting time. Sharing information replaces guesswork and reduces the need for big safety stocks. It also builds trust between partners, which lowers the chance of errors and missed deliveries.
This same idea works in interagency and B2B partnerships. No single group has all the facts, but when they work together, they can respond faster. A common view of orders, shipments, and issues makes coordination easier. If one partner cannot deliver, another can step in. During a crisis, the first hour matters most, and having shared data makes a big difference. In normal times, better coordination improves service and reduces waste. Risk management works best when everyone uses the same simple tools, shares information, and acts like one network.
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