Measure the effectiveness of ERM and sustainability management programs.

Risk management can be an essential management tool for driving innovation and value creation.

With my team, we are running now a project in healthcare, Pharmaflex360, which is about Pharma Exports & Distribution Management. As a leading member of Pharmaflex360, I have a key role, in identifying the risks in pharmaceutical operations and transactions. Trading and distribution operations contain the possibility of apparition unforeseen events, that can cause disruptions in operations. By identifying the risks, our project Pharmaflex360 could pave the way for the pharmaceutical industry, to evaluate services according to their true cost and true value.

My key role also contains risk, which is the lack of evidence, that the effectiveness with which we identify, manage, and disclose these risks is not limited.

So I created a Sustainability Report and a Risk filing for our operations and the pharmaceutical industry's operations. After the aggregation of the Sustainability Report and Risk filing, I calculated the percentage of full alignment.

For example, I evaluated the risk of pandemics. To do this, I looked for data provided by the Centre for Disease Control and the UN and aligned this to our geographical presence. I also estimated the “reputational risk” associated with the pharmaceutical industry's historical actions and the government's historical healthcare policies.

So I analyzed the following factors in sustainability risk management, that needed solutions:

1. Limited knowledge of risks.

2. Difficulty quantifying risks

3. Limited cross-functional collaboration.

4. Longer time horizons for sustainability risks.

Below are the solutions I implemented to our ERΜ and sustainability risk model:

1. Identifying opportunities as well as identifying downside risk.

2. Pilot testing features of the supplemental guide with selected business partners.

3. Use of scenario planning and stress testing to analyze potential impacts on complex, emerging global challenges.

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