Supply chain risk mitigation is the process of identifying potential risks associated with your supply chain and taking steps to minimize their impact. It involves developing strategies, processes and protocols to protect against disruption or delays in the flow of goods and services. This could mean having multiple sources of supply, stockpiling critical materials, diversifying suppliers and continuously monitoring market conditions. By implementing risk mitigation strategies, businesses can ensure that they are prepared for any disruptions and have a plan of action should something go wrong.