Supply chain has a lot of risks and I started to think about what they were. Here is another example of the excellent work that CAPS research does.
There are a lot of ways that you can use to try and minimize your potential risk. Spending more time with your suppliers is a great first place to start. Updating and fine tuning your ERP system is often overlooked.
If you don’t have the time or resources then you might want to consider using a supplier management tool like QCsolver. Our online portal helps collect, organize and report on 3 of these risk areas (Financial, health & safety and Category Risk).
QCsolver is the “Swiss Army Knife” of supply chain management and administration. https://qcsolver.com/solutions/. Easy to use and affordable. Let us know if we can help you better manage your risks.