Risk mitigation in supply chain management refers to the proactive measures and strategies implemented to identify, assess, and address potential threats or disruptions to the flow of goods, information, and finances within a supply chain network, aiming to minimize adverse impacts on operations, costs, and customer satisfaction. In the dynamic supply chain management landscape, mitigating risk has emerged as a paramount concern for organizations seeking to ensure resilience and continuity. This review article delves into contemporary advances in process control and monitoring strategies to fortify supply chains against many uncertainties. By selecting the relevant and recent literature using the keywords “uncertainty”, “supply chain management,” “process control,” and “risk mitigation” from the last fifteen years (2009-2024), covered by reputed databases such as Scopus, Web of Science, and Google Scholar, and by drawing upon comprehensive analyses and industry practices, this study identifies critical methodologies, technologies, and frameworks that empower organizations to manage risks across their supply networks proactively. The current study highlights innovative solutions that enhance supply chain visibility, agility, and responsiveness, from real-time data analytics and predictive modeling to blockchain-enabled transparency and AI-driven decision support systems. Moreover, it is intended to examine the integration of emerging technologies such as IoT sensors, machine learning algorithms, and digital twins, showcasing their transformative potential in enabling proactive risk identification and mitigation. This review provides a comprehensive overview of the current landscape by synthesizing these advancements and challenges. It offers valuable insights for navigating the complexities of modern supply chain risk management and the study's limitations. This study's findings have practical applications in the real world, enabling supply chain managers to cultivate a culture of continuous improvement and adaptation within their organizations. Companies can maintain flexibility and adaptability amid changing risks and uncertainties by staying up to date with the latest approaches and industry standards.