The global supply chain has a lot of moving parts and takes some research strategy to come up with the right path for a company to go down. The consumer will demand the sustainable product and it is up to the companies to look for suppliers and manufacturers to create a more sustainable product. This can be hard when looking at different countries as they have different ways at looking at this. When a company is looking for a supplier, they should investigate the culture of that country and understand it on a local level to make sure they can implement Corporate Social Responsibilities (CSR) policies. After the CSR policies were introduced, the quality of products should increase. A few risk mitigation strategies can include evaluating risk that could occur and look for ways to reduce these risk, looking at supplier quality to ensure a long lasting relationship with the supplier, diversify suppliers around the world reduce the risk of supply chain becoming vulnerable in one region, and become transparent with partners keep a strong relationship and this strong relationship will help when changes occur and situations rise that need a fast acting solution.

Tencati, A., Russo, A., & Quaglia, V. (2010). Sustainability along the global supply chain: the case of Vietnam.Social Responsibility Journal,6(1), 91-107. https://doi.org/10.1108/17471111011024577

10 tips to mitigate supply chain risk. (n.d.). Retrieved February 19, 2023, from http://resources.inboundlogistics.com/newsletter/UPSC_tentips_0116.html

Second statement:

We are down to the final days of this term, and I can't wait to close another term on my progress to completion. I spent longer than I should have reading and rereading the case study about Vietnam, looking for a specific event to apply a risk mitigation strategy, but I only found some themes. The first part of planning any business deal, on a local scale or in a global supply chain, is to work to understand who you are doing business with. You have to research the culture, the norms, and the local environment to know what you are getting into. After a company has done its due diligence and feels that each company can benefit the other, you move forward. With due diligence, the company should have accessed the risk and created a risk management strategy to match the what-ifs.

After the risk management strategy is developed, companies can reduce the risk associated with a globalized supply chain by implementing collaborative and comprehensive CSR policies and procedures that go beyond compliance with international standards but fit to better the cultural norms of the supplier location. These policies and procedures include conducting continued due diligence on all existing suppliers, investing in capacity-building initiatives for global suppliers, and fostering collaboration between public authorities, managers, workers, and international institutions. Additionally, companies should strive for transparency throughout their operations while providing financial assistance or incentives to those who meet specific criteria related to social responsibility. By taking these steps, companies can help mitigate risks associated with globalized supply chains while meeting consumer demands for responsible products.