Building Resilient and Efficient Supply Chains
In a volatile, uncertain business environment, procurement and supply management are rapidly evolving. Achieving cost savings is still important, but these organizations are increasingly accountable for making their businesses more stable, competitive, and innovative. Supply teams are being evaluated by the effectiveness of their supplier risk management strategy, as well as their ability to maintain strong supply chains and contribute to sustainable enterprise growth strategies.
Supply Chain Risk Assessment
Persistent supply chain disruption is challenging business stability. Procurement and supply management teams need comprehensive data and analytical tools that will empower them to assess and reduce supplier risk while improving supplier and vendor management.
With the right data and risk management solutions, procurement and supply leaders can answer critical questions about suppliers and third parties, such as:
Is this a stable company that can be relied upon to provide us with goods or services?
Are there risks associated with this company’s location, ownership, or previous business practices?
How quickly can we pivot to an alternative supplier if this one fails us?