Application of risk management to supply chain raw material sourcing and mitigation strategies in the dietary supplement industry

The purpose of this study is to propose risk management tools and techniques to be employed by the supply chain of dietary supplement manufacturers or firms when engaging in sourcing of raw materials or ingredients from foreign countries. The study highlights practical industry analysis of the application of recommended risk management tools such as Cause-and-Effect analysis, SWOT analysis, Risk Ranking and Risk Impact matrix analysis, FMEA analysis, and the 4T risk response matrix analysis. These risk management tools are to help guide the supply chain of dietary supplement manufacturers to mitigate and control safety risks associated with foreign-sourced contaminated raw materials used in dietary supplement products manufactured and marketed in the US.