In recent times, it has become clear that it is not enough to manage the business supply chain
effectively and efficiently as a disruption in business activities in remote points of a business‟ value
chain may have substantial adverse effect on it due to the bullwhip effect. The management of both
the downstream and upstream stakeholders of your supply chain become essential if you are to have a
stable supply chain. Thus, by extending your business network you not only manage Supplier and
Customer relationships, you also aim at monitoring, and supporting de-risking their activities as it
affects your business. In such a case, we look at ERM as managing an enterprise that comprises of all
the substantial enterprises that make-up the value-chain of the business.