In today’s business environment, multiple organizations must routinely work together in software supply chains when acquiring, developing, operating, and maintaining software products. The programmatic and product complexity inherent in software supply chains increases the risk that defects, vulnerabilities, and malicious code will be inserted into a delivered software product. As a result, effective risk management is essential for establishing and maintaining software supply-chain assurance over time. The Software Engineering Institute (SEI) is developing a systemic approach for assessing and managing software supply-chain risks. This paper highlights the basic approach being implemented by SEI researchers and provides a summary of the status of this work.