As we all know, supplier risk management is not a new concept! However, with increased globalization of businesses and new technological interventions, supplier risks have increased manifold posing greater challenges to the Procurement managers. With the type of risks affecting the supply chain process evolving significantly over last few years, the ways to assess, mitigate and manage the risks have also changed. In this edition, Team SpendBytes discusses on some of the aspects of effective supplier risk management.
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TEAM SPENDBYTES
PERSPECTIVE
Every business faces its unique set of risks and challenges. Similarly, in Supplier Risk Management there are numerous risks that tend to come up – delays from suppliers, production disturbances, natural disasters, theft, shortages and cybersecurity, organizational and operational issues. Learn how businesses can minimize risks on the Supply side with effective management and strategy.
Read MoreMARKET INSIGHTS
With organizations increasingly adopting lean supply chains to remain competitive, the resulting heightened risk factors make effective supplier risk management imperative and unavoidable. This paper discusses an effective approach to assess, monitor, and contain supplier risk using a forecasting model.
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INFOGRAPHIC
Businesses today are taking a more comprehensive and predictive approach towards Risk Management. This infographic presents how technology is enabling the same.
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