When you board a supplier, it’s important to clearly understand the risk that decision may represent to you and your customers.
Suppliers can pose various risks to businesses since they are companies themselves. This means that they are susceptible to the same risks as any other enterprise, including financial risks, political risks, and natural disasters. As a result, businesses need to identify and mitigate these risks as much as possible.
Many potential threats are associated with working with suppliers, like quality issues, delivery issues, financial instability, and more. By identifying and assessing these risk attributes upfront, businesses can avoid or minimize potential problems down the road.
In this video whitepaper, we will talk about different risk attributes associated with suppliers and how we can use them to manage supplier risks.