A manufacturing company tasks supply management with implementing a risk management program for its enterprise...

Risk Management Program: Implementing a risk management program for the ERP system is crucial due to its impact on multiple departments within the company.

First Step – Risk Identification: The first step in any risk management process is to identify the sources of risk. This involves understanding what could go wrong, potential vulnerabilities, and areas of exposure.

Comprehensive Assessment: Identifying risks allows the company to develop a comprehensive understanding of the ERP system's weaknesses and potential threats.

References: Risk management frameworks, such as ISO 31000 and the Project Management Institute’s (PMI) guidelines, emphasize risk identification as the foundational step in developing aneffective risk management strategy.