Supplier Risk Management

There's supplier risk management, and then there's intelligent supplier risk management. Find out how riskmethods is the secret to making your supply chain more intelligent.

Imagine this: One of your key suppliers suddenly declares bankruptcy. 

You can no longer get the parts you need to keep manufacturing your product. What are you going to do? Your customers are going to be angry. Your new product launch will have to be indefinitely postponed. Your leadership will be furious. Your stock price will start to plummet.  

This is a big deal. 

Except—this is not a big deal.  
Because you're already managing supplier risk. 

You’re alerted to the financial insolvency, you take steps to find alternative suppliers and you keep your supply chain intact. That’s what supplier risk management is all about: identifying, assessing and mitigating threats to your organization’s business operations that are caused by the actions of a supplier. 

If you’ve got a traditional supplier risk management solution, you probably think you’re in great shape. You’ve built the risk profiles of your suppliers into your selection process. You’re staying on top of any major changes to their risk profiles. And you’re taking action when you’re told to. 

So your supply network is rock solid. Right? Well...not quite.

tornado-hits-a-manufacturing-site

Now imagine this:

Your supplier is fine, but a hurricane is headed toward the main airport that the supplier uses to ship its product to you.

transportation

Now imagine this:

Your supplier is fine, but oil prices in your region have increased dramatically, and your transportation costs are about to soar.

explosion-at-a-factory

Now imagine this:

Your supplier is fine, but one of their suppliers has just experienced a huge factory fire that is about to shut down operations. For months.

All of these scenarios are going to negatively impact your business.

And in all of these scenarios…your supplier is fine.

Without intelligent supplier risk management, you may not know about these scenarios until it's too late. But with intelligent supplier risk management, you will. That's because intelligent supplier risk management is about protecting your entire supply chain…not just warning you when one of your suppliers is about to go down. 

Here at riskmethods, we saw the problem, and we decided to solve it. The riskmethods Solution addresses all of the above scenarios—and many more.

Customers all over the world are relying on our solution

Are you making these 5 mistakes in your risk strategy?

FIND OUT THE FIVE MISTAKES YOU’RE PROBABLY MAKING IN YOUR CURRENT STRATEGY, AND LEARN WHAT YOU CAN DO TO ADDRESS THEM.

About riskmethods

riskmethods was born because its founders had a mission: to create a world of reliable supply networks. Rolf Zimmer and Heiko Schwarz launched riskmethods in 2013, when they saw that companies everywhere needed a way to navigate risk in a more effective way. Now riskmethods is a market leader in supply chain risk management, helping beloved brands and working with well-known partners to create reliable supply networks around the globe.