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A new tool to measure and assess risk

CSCMP, along with the University of Tennessee and research analysis firm IHS Markit, has created a tool designed to improve market intelligence, decision-making, and risk mitigation efforts for supply chain professionals.

Rick Blasgen
By Rick BlasgenFeb 19, 2020
Rick Blasgen
Rick Blasgen is President and Chief Executive Officer of the Council of Supply Chain Management Professionals (CSCMP).
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How do today's supply chain leaders assess risk and measure supply chain capability in key markets around the globe? What tools are available to add additional data points to improve access to information and decision-making abilities?

To help answer those questions, the Council of Supply Chain Management Professionals (CSCMP) has partnered with the University of Tennessee (UT), Knoxville's Global Supply Chain Institute and research and analysis firm IHS Markit to produce a tool that improves market intelligence, decision-making, and risk mitigation efforts for supply chain professionals.

The EPIC Global Supply Chain Readiness Index employs a data-driven approach that combines UT's quantitative analysis with IHS Markit's rich on-the-ground qualitative insights from more than 55 countries around the globe. This tool is designed to provide foundational and contemporary input to supply chain leaders to drive more informed decisions about how to best operate in these markets.

The "EPIC Global Supply Chain Readiness Index 2020" report is based upon concepts developed in a book authored by faculty from the University of Tennessee and ESSEC School of Management (Paris, France) entitled Global Supply Chains: Evaluating Regions on an EPIC Framework. The EPIC framework originally introduced in the book provides a methodology and approach that allows firms to better assess the suitability of different locations as sites for global supply chain operations, including sourcing, manufacturing, and distribution. With data sets selected by UT and analysis provided by IHS Markit, the EPIC Report 2020 will update the previous work and give supply chain executives insight about the capabilities of supply chains globally. The EPIC framework provides the structure for assessing various regions around the globe for supply chain readiness in regard to economy (E), politics (P), infrastructure (I), and competency (C).

As your professional association, CSCMP is committed to both developing and arming supply chain professionals to be successful in their pursuit of excellence throughout their careers, as well as advancing our discipline and accomplishing CSCMP's mission of a truly integrated, end-to-end supply chain. We believe this new report will enable supply chain organizations to make better, more informed decisions that will improve the effectiveness and efficiency of their supply chains.

 

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