Most procurement and supply chain organizations have some understanding of risk management and have some plans in place to address risk. However, in many cases, their approach to risk management is built on shaky ground: myths, fallacies or simple lack of knowledge. Do any of the below sound familiar to you?
- “We focus our risk efforts purely on our top suppliers—applying Pareto makes sense.”
- “We analyze and approve all our new suppliers when we on-board them—that is enough to protect us.”
- “We have great supplier relationships—they will tell us if anything is happening that we should know about.”
If you answered yes, you have a supply chain risk problem. Download our whitepaper to learn why these myths are so dangerous and how to fix them.