This chapter describes how as the semiconductor industry is growing at a streaming pace, it comprises a number of global business entities. The industry includes the designing of the VLSI chips, manufacturing of those chips, system integration and the distribution of the VLSI chip. With this the industry has raised the bar among its vendors to provide best possible IC solutions and a highly secure product. The authors thus present this chapter in calculating views on risk involved in this area which are prone to security risks and at the same time focuses on the VLSI supply chain with references to a recent survey that illustrates various ways to handle those risks. In the absence of an effective security mechanism, a varlet here viz. an intellectual property (IP)provider or an integrated circuit design industry, an EDA company, a foundry lab, a distributor of chips or a system integrator, may easily lead to design IP theft or tampering with a designed IC. Since these risks compromise the security system for the VLSI chips, this leads to have a sound security system for an apt risk management.