With new crises seemingly emerging weekly, risk management has taken on a new urgency. Leading companies recognize the importance of a solid supply chain risk discipline, but grapple with scope, ownership, metrics, and ties to other types of strategic and operational risks facing the business.

The election of Barack Obama in the United States, the repercussions of the global "financial bailout" and a potential increase in environmental regulations will affect supply chain operations at multiple levels. The ability to quickly monitor and absorb these changes in supply chain structures will be the main agenda for 2009.

As the financial crisis ripples through the global economy, supply chains will need to re-invent themselves and deal with uncertainty at all levels: economic, financial and regulatory. The need to balance short-term needs with long-term investments in global supply chains will add significant uncertainty to global supply chain operations.

As we become increasingly globalized, with more tiers and more hands touching the ingredients in our end-to-end food supply chain, the need for food traceability will only increase.

To minimize potential liability and financial damage, organizations need to be proactive and have demonstrable systems in place to manage food safety risks across their supply chains.

The green imperative is expanding into virtually all walks of life and all facets of the economy. Demonstrating green credentials is increasingly a minimal stakeholder expectation and business risk management factor, and is shifting from an order-winning to an order-qualifying attribute. Swallow that carbon pill! A whole swath of additional environmental expectations may well be just around the corner, as well as a whole new way of looking at "green" and the environment.