The management of financial risks in a supply chain is focused on minimizing and controlling the financial impacts and liabilities associated with the procurement of goods and services. This includes assessing current and potential financial risks, developing strategies to mitigate those risks and establishing procedures to monitor their effectiveness over time. In order to ensure that these efforts are effective and long-lasting, responsible executives must take the initiative to educate themselves on the nuances of supply chain risk management, and take proactive steps to identify and manage potential issues before they arise. By doing this, organizations can create a culture of accountability and transparency that benefits everyone – from suppliers and customers, to shareholders and stakeholders.