In our global economy, extreme complexity exists in today’s supplier management function, and there is great risk to supply chain continuity, particularly when little to no visibility exists.
In a BCI survey, 56% of respondents had suffered a supply chain disruption over the previous 12 months and 52% of disruptions occurred with Tier 1 suppliers.
Companies have faced severe problems caused by delivery failure, sudden supply shocks, natural disasters at supplier locations, discontinuation of certain parts, shrinkage, political turmoil, etc. These problems damage brand reputation, cause companies to lose market share and trigger product recalls.
What are the financial, geopolitical, IT and supplier capability risks? What can poor supplier management lead to – and how do you prevent it? What are the supplier data must-haves?
This white paper answers these questions and outlines strategies for supplier management and risk mitigation.