Supply Chain Disruption Vocabulary

A disturbance or problems, which interrupt an event, activity, or process.

Emergency Contingency Plan: A business's or individual's action plan to respond to an emergency situation.

• Commodity

• Disruption

• Impact

• Shortage

The measure of the tangible and intangible effects (consequences) of one thing's action or influence upon another.

• Impact

• Disruption

• Risk

• Procurement

The process of planning, implementing, and controlling procedures for the efficient and effective storage of goods, services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements.

• Logistics

• Procurement

• Risk

• Sourcing

A measure quantifying the likelihood that events will occur. A measure of how often a particular event will happen if something (such as tossing a coin) is done repeatedly.

• Probability

• Risk

• Purchasing

• Sourcing

The business functions of procurement planning, purchasing, inventory control, traffic, receiving, incoming inspection, and salvage operations.

• Probability

• Procurement

• Sourcing

• Risk

The function of, and the responsibility for, procuring materials, supplies, and services.

• Purchasing

• Sourcing

• Logistics

• Shortage

 A probability of damage, liability, loss, or other negative occurrence that is caused by either an internal or an external vulnerability.

• Risk

• Sourcing

• Procurement

• Impact

A coordinated set of activities and methods used to direct an organization to control risks.

• Risk Management

• Logistics

• Purchasing

• Sourcing

A systematic reduction in the extent of exposure to a risk and/or the likelihood of its occurrence.

• Risk Mitigation

• Sourcing

• Logistics

• Tactical Plan

A situation in which something needed cannot be obtained in sufficient amounts.

• Shortage

• Risk

• Probability

• Disruption