LONDON--(BUSINESS WIRE)--Supply chain risk assessment has become a necessity in today’s fast-paced and highly competitive markets. Economic uncertainties and physical and environmental threats can also impact the safety and security of a supply chain, and vary greatly from region to region. Companies that undergo regular supply chain risk assessment and regularly manage supply chain risks are more likely to find long-term success than their competitors, and can make more informed decisions about where to do business and which suppliers are best to work with.
Supply Chain Risk Assessment Market Trends
Supply chain risk assessment is an important practice for all businesses, but especially so for those in industries such as healthcare and life sciences where the safety and success of the supply chain is critical for the well-being of consumers. Risk assessment should be conducted on a regular basis—annually or bi-annually, for example—and should be re-conducted whenever a new supplier or partner is added to the supply chain.
A leading medical device manufacturer recently approached SpendEdge to conduct a supplier risk assessment study focused specifically on conducting periodic risk monitoring for a specific set of suppliers. SpendEdge conducted a comprehensive risk assessment of the client’s critical suppliers, allowing the client to develop a more thorough and secure supplier strategy. It also helped the client to stay up to date with the latest developments specific to its key suppliers and to the healthcare industry as a whole.
Supply chain risk assessment helps businesses make smarter decisions, form more strategic partnerships, and increases the safety and longevity of their supply chains. It is an integral part of supply chain management.
For more insights, get in touch with SpendEdge’s analytics solutions experts
How Can SpendEdge’s Supply Chain Risk Assessment Solutions Help You?
SpendEdge consolidates metrics across various sectors of the supply chain to help clients identify key stakeholders, as well as the structure of the supply chain and risks associated with it, including supply capacity fluctuations and their impact on prices. SpendEdge also studies every attribute of your supplier’s business in great detail in order to fully analyze the risks and benefits associated with them.
View SpendEdge’s success stories: https://www.spendedge.com/service/supply-chain-risk-assessment
About SpendEdge
SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred market intelligence partner for Fortune 500 firms and other leading companies across industries. Our strength lies in delivering actionable insights that help sourcing and procurement professionals get the right information in the right format, without any unnecessary frills.
Our procurement market intelligence coverage extends across critical processes of sourcing strategy planning process and helps clients achieve more than mere monetary savings. Our procurement insights are well-defined to meet the information needs of the procurement organizations and are aimed at helping category managers extract hidden values out of sourcing teams, suppliers, contracts, and processes.
