Overview
Is your organization knowledgeable enough to effectively make decisions about your supply chain?
Are you optimizing your processes to be able to identify and address risks before they become major issues?
Do you know who your suppliers are? What about your sub-tier suppliers?
Managing supply chains can be an overwhelming task for any organization. Issues can expose hidden risks that can include supplier selection, improper allocation of resources, procurement, poor inventory planning, and lack of visibility across the supply chain. By taking a more proactive approach to supply chain risk management, the chance of encountering severe risks can be limited as your organization moves forward.
3 Ways to Identify Risks Within Your Organization:
- Conduct a situational assessment to understand the current state of your supply chain: Visibility and awareness of supply chain risks
- Identify and prioritize risks to improve supply chain operations: Standard frameworks and processes to mitigate risks
- Develop process and/or solutions to solve the risks: Simple methods to make supply chain risk mitigation a way of life
Benefits of Implementing Supply Chain Analysis:
- Improves quality control
- Improves collaboration with suppliers
- Reduces inventory and overhead costs
- Improved visibility in the supply chain
- Improves risk mitigation