Safeguarding your supply chain
A guide to intelligently mitigating risk in your supply chain
The last few years have tested many procurement organizations to their absolute limit. The increasing scale of tightening credit conditions and a worldwide Pandemic have introduced unprecedented levels of risk and uncertainty in the supply chain.
Do you currently have a policy available to help category managers understand what level of risk planning should be involved for each supplier?
If there is a policy, is it sufficiently detailed to account for different use cases across categories, for both new and existing suppliers?
What do you rely on?
Relying on codes of conduct and ethics statements are no longer sufficient to guarantee against reputational risk–as we saw with the BooHoo supply chain meltdown after modern slavery claims against the online retailer.
Consumers and end-users will not draw the distinction between you and your supplier in the event of failure.
“60% of risk management data is completely siloed, forcing senior leaders in major enterprises to make strategic decisions with an incomplete picture of risk”
- Dun and Bradstreet, 2018 Global Risk Management Study
What's your process?
With the right tools in place, managing suppliers becomes a streamlined, proactive process where risk can be monitored in real-time.
Furthermore, supplier audits can be crowdsourced for a true picture across an organization, and sustainability can be visualized for an at-a-glance assessment of how a company is performing against ethical targets.
Download our guide to mitigating risk in your supply base to discover:
- The quick win opportunities to identify supplier risk and drive consistent processes
- Which areas of the supplier lifecycle are critical to establish cross-function collaboration
- The strategic value of a single view of your supply base