Supply Chain

Making Supplier Risk Management Plans an Everyday Way of Doing Business

Integration of supplier risk management in category management and strategic sourcing makes sense in today's dynamic, risk–loaded business environment.
— By Cecil Perang

Like many risk management plans, the supplier risk management plan is good at collecting proverbial dust. Risk management plans tend to be viewed as emergency plans to be referenced only when something goes wrong. In the supply chain, something going wrong could be something like a key supplier unexpectedly going out of business or a natural disaster that disrupts the supply of critical materials. The dust-collecting supplier risk management plan is more like a recovery plan than a strat....