Is your supply chain set up for success?
There’s no shortage of risk factors that can sabotage your company’s supply chain. Check out what your peers are doing to minimize them.
At times it can seem tough enough to stay on top of what’s happening in your own warehouse, much less your supplier’s warehouse or even your supplier’s supplier’s warehouse!
Make sure everyone involved understands: The more data you have, the less likely your company is to encounter some expensive surprises.
So how do your peers tackle that massive task? By putting consistent policies in place to assess all their supply chain risk factors.
Here’s which bases they’re covering — and how regularly:
There are two compelling reasons you want your company in this camp. Organizations with consistent supply chain risk management policies are:
- two times less likely to have their supply chain risk levels increase since 2005, and
- 1.4 times less likely to have their supply chain disruption costs rise significantly in that same window.
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