* Strategic Alignment: The first step in evaluating supply chain risks should be to review the firm's strategic objectives to ensure that the risk management plan aligns with the overall goals and priorities of the organization.
* Risk Identification: Understanding the strategic objectives helps in identifying which areas of the supply chain are most critical to achieving these objectives and where potential disruptions could have the greatest impact.
* Priority Setting: By aligning the risk assessment with strategic objectives, the team can prioritize risks that are most likely to hinder the firm's ability to meet its goals, ensuring a focused and effective risk management approach.
* Holistic View: Reviewing the strategic objectives provides a holistic view of the organization's direction and helps in creating a risk management plan that supports long-term success and sustainability.
References:
* SHRM-SCP Exam Content Outline
* SHRM guidelines on risk management and strategic alignment