Q: What is the key element that defines good supply chain management?

A: The biggest risk in a supply chain is having sufficient visibility. Knowing the what, where, when and how of your transactions in real time helps you be prepared and anticipate ways to mitigate your own risk. Visibility also helps you gain greater control over your partners and their ability to meet obligations. Web-enabled platforms, software programs and paper-to-electronic processing, once regarded as nice-to-have, now must be considered have-to-have visibility tools.

Q: Does a company need to employ more extensive risk management dealing with China?

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