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Supplier management enabled by risk intelligence
Ted Datta
Strategic Account Director BvD UK & Ireland
What is supplier management?
“The commercial business discipline that involves the pro-active, holistic,
management, and monitoring, of suppliers and partners, with the primary goal
of optimising efficiency and competiveness, whilst mitigating risk.”
360 Supplier View
What is risk? “The effect of uncertainty on objectives”
How many European companies placed into receivership in the
last two weeks?
- 30,719
- 11,260 - manufacturing, construction, logistics or telecoms
- 520 > 50 employees
Supplier risk management in practice
“Nearly half of senior executives say their supply chain management
programmes are insufficient or ineffective”
Deloitte, Feb 2013
1. Financial risk
2. Reputational risk
3. Integrating risk into supplier management
Risk: If I do this is it going to hurt?
Supply chains are vital to business performance...
...and they’re becoming increasingly complex
So where do I go to assess supplier risk?
Data from the right provider can help…
Hallmarks of good external content providers...
- Global perspective
- Reliability, quality and variety of content
- Easy to interpret
- Innovative, intuitive technology
Hallmarks of successful procurement teams…
Agile
StrategicInquisitive
Collaborative
The world changed and it’s still changing….
1. Financial risk: traditionally boiled down to…
1. Lets take a wider view…
1. And lets focus on financial strength...
1. Detailed insight into long-term financial stability
2. Reputational risk: Know Your Supplier/Partner
2. Who am I actually buying from?
2. And who’s actually behind that company?
3. Integrating risk into supplier management
3. Take control of your supplier data
Internal data
External data
Common identifier
3. Make it part of your segmentation strategy
3. Understand where it can add value?
3. Enhanced evaluation and on-boarding capability
3. Source and benchmark alternatives
3. Deliver risk management updates to your senior leadership team
3. Take the lead on corporate & social responsibility reporting
SME
Adverse Press
Environmental Risk
3. Leverage your corporate spending power
3. Understand your impact on supplier health
3. Dashboard environment to monitor risk intelligence on your strategic suppliers
Best practice supplier management - employs risk intelligence to:
1. Conduct robust selection, evaluation and on-boarding of key suppliers
2. Monitor, and report on, the financial health of all strategic partners
3. Mitigate reputational risk by knowing who your suppliers are
4. Capitalise on opportunities to leverage corporate spending power
5. Shape on-going business planning and relationship management strategy
Stand 12