Supplier Risk Management: 4 Things To Look Out for During On-Site Evaluations

Cerasis

This post is the second in a series of “How to Spot Supplier Risk.” ” In the process of business procurement and especially in the supply chain, supplier risk management is a skill set that needs focus day in and day out. Enhancing Supplier Risk Management Through On-Site Evaluations. The second article in our series on identifying supplier risk explores what to look for during on-site evaluations.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Supply Chain Game Changer

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. These world class performers have astonishing talent but they are also working in an environment designed to eliminate risk and maximize safety. Supply Chain Professionals, although not usually theatrical, also work in an environment in which they are managing a tremendous amount of risk. Supply Chain Risk Management.

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Supplier Risk Management Considerations for the Coronavirus Outbreak

ivalua

This will impact manufacturers and retailers who rely on these products and labor, the logistics haulers expecting to transport the material, and ultimately the end consumers. . This crisis demonstrates the increasingly global nature and complexity of supply chains and the imperative to manage the risk within this complex supply chain. This mapping should include evaluating those key tier 2 and tier 3 suppliers as well as key logistics hubs that could be impacted. .

Supply Chain Risk Management – 5 Approaches to Safeguard your Supply Chain

ThroughPut

What is Supply Chain Risk Management? Supply Chain Risk Management (SCRM) is defined as the process of taking those strategic steps which can help manufacturers identify, analyze, assess, and finally mitigate the risk in the end-to-end supply chain.

Supply Chain Risk Management Highlighted by a Tiny Computer Chip

Enterra Insights

” Aside from national security implications, the main lesson to be learned here is how vulnerable companies are to risks associated with their supply chains. Lillian Ablon, an information scientist at the RAND Corporation, told Koebler and Cox, “Supply chain risk management is difficult enough for conventional threats (disruptions in operations caused by natural disasters, financial failures, poor quality, etc.).

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

It has also always had issues: supply chain complexity; global competition; information collection challenges; and greater risk from global events including natural disasters, port closures and anti-global sentiment. ” Taken as a whole, the issues raised by Monahan and Gott are enough to keep any risk manager awake through the night. ”[2] Those risks are: 1. As we step into 2018, enterprises must realize the risks associated with their IoT ecosystem.”

Supply Chain: The True Game of Risk

Supply Chain Shaman

One of my favorites was the board game Risk. ” The rules have changed, and the risk increased. Designing value networks and managing what-if conditions is fundamental to managing supply chain risks. The move from global to regional supply chains increased risks. This increases risk. Historically, the risk management focus was to reduce insurance costs. What is Risk Management? Not All Risks can Be Prevented.

5 New Year’s Resolutions for Supply Chain & Logistics Executives

Talking Logistics

If you’re a supply chain or logistics executive and you’re looking for ways to improve as a leader this year, here are my five recommendations: 1. Ask “What are the risks?”more Supply chain management is risky business — and the risks are growing every day. Simply put, many companies are still falling short on supply chain risk management , and they continue to pay the price. And the first step is asking “What are the risks?”

The Importance of Using Supply Chain Management Software in Procurement

EC Sourcing Group

The importance of using supply chain management software is notable because of the importance of the supply chain itself. Read on to learn more about types of supply chain management software and how to pick the best type for your company’s needs. . Contract management.

This Week in Logistics News (June 20-24, 2016)

Talking Logistics

A beautiful woman passed away this morning, my wife’s aunt who we all loved, so I will be brief with my comments about this week’s supply chain and logistics news. Logistics in Transition: U.S. Business Logistics Costs Slow Considerably with 2.6% Triumph Business Capital Provides Instant Cash Funding Via AscendTMS™ Logistics Software. From a supply chain perspective, Brexit will have a ripple effect on procurement, trade agreements, customs, and other areas.

The 3PL Industry is Suffering from Gresham’s Law

Talking Logistics

Earlier this year in Procuring Logistics Services is Not the Same as Buying Paper Clips , I wrote about an issue that continues to negatively affect 3PL-customer relationships: Procurement organizations looking to shift more and more risk on third-party logistics providers — while, of course, also demanding lower costs. Procuring logistics services is not the same as buying paper clips, yet that’s how many procurement organizations approach it.”.

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Technologies that Impact Procurement

Claritum

Claritum Article - Procurement Blog. Technologies and Procurement Table. There are a lot of articles around on what Procurement needs to do; how Procurement needs to change; and how technology will fundamentally change Procurement. This article summarises, as a table, technology areas that impact on Procurement that you might need to investigate. 2 Technologies and Procurement Table. Augmented Intelligence for Procurement professionals.

Efficient Financing Options Help Enhance Factory Standards in Emerging Markets

Logistics Viewpoints

Traditionally, the focus of supply chain management is on the movement of finished goods and raw materials across the value chain. The post Efficient Financing Options Help Enhance Factory Standards in Emerging Markets appeared first on Logistics Viewpoints: A Blog for Logistics, Supply Chain, and 3PL Executives. Procurement/Sourcing Supply Chain Planning Supply Chain Risk Management financial supply chain GT Nexus IFC

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“You’re Only as Good as Your Worst Supplier”

Talking Logistics

in an effort to streamline its supply chain as it prepared to ramp up manufacturing…UPS said last year it would set up a logistics center in Londonderry, N.H., But the 130-person logistics facility was beset by problems after it opened in July, said people familiar with the operation, slowing assembly to a crawl. Both of these cases underscore the growing importance of supply chain mapping and risk management.

What Does Augmented Analytics Mean for Procurement?

Jaggaer

These found their earliest commercial applications in areas such as customer profiling, market segmentation and credit scoring as well as risk analysis (e.g. This was all very well but unless you had a PhD in statistics or mathematics or an applied mathematics subject like risk management, analytics was not a whole lot of use to you; even if you could make sense of the complex algorithms, it was hard to work out which tools to apply. It’s OK, we understand.

WMS Software Procurement Lifecycle: How to Evaluate, Select, Implement, Modify, & Realize ROI

Veridian Solutions

The warehouse management system (WMS) serves as the system of record for warehouses and distribution centers. The WMS software procurement lifecycle remains a challenge for many supply chain leaders. As explained by Tom Gresham of Inbound Logistics : . Evidence of a poorly conceived and managed warehouse management system (WMS) implementation sometimes is so apparent that passersby on the street notice it. Your next procurement is on the horizon.

Why The Time Is Now for Sustainable Procurement

Jaggaer

Earth Day (April 22nd) is a celebration of commitment to creating a safer, healthier and cleaner world, making it a natural time to reflect on the power and value of sustainable procurement programs. Procurement teams are in a unique and important position to drive such initiatives forward as these improvements are only possible through actions taken in the supply chain. Procurement at the pivot point. Clear steps to sustainable procurement.

Top 10 Global Supply Chain Risks

Supply Chain Game Changer

Change is inevitable in modern supply chain management, and risk management is essential to success. Risks evolve and become more prevalent with time. Risk management strategies of yesteryear are ineffective in the changing landscape, and no type of transport can avoid risks. Risks exist in land, air and ocean freight. Understanding the top 10 global supply chain risks can work to reduce their impact. Environmental Risks.

The Parallel Supply Chain … A Twilight Zone Strategy?

Supply Chain Game Changer

Every source of materials and components, every manufacturing facility, every warehouse and distribution channel, and every logistics mechanism is duplicated. To establish, manage and maintain a Supply Chain takes a lot of resource. Risk Management Supply Chain Management

Procurement Challenges Condensed

Claritum

Claritum Article - Procurement Blog. I took on the challenge of writing a condensed version of all the current Procurement challenges. I believe the issue with these articles is the broad range encompassed by the word Procurement and the constant change within this domain. To my mind, your challenges depend on where you are in transformational change within your organisation, the scope of your function within Procurement and the nature of the organisation’s supply chain.

Made in “I Really Don’t Know”

Talking Logistics

Simply put, achieving true end-to-end supply chain visibility takes considerable more time, money, and resources than many companies are investing today — and it also takes a more enlightened approach to supplier selection and management. Putting a dollar figure on poor supply chain visibility, and how the costs break down, not only helps you gain upper management support to take corrective actions, but also helps you to prioritize those actions.

The Industrial Internet of Things, Manufacturing, Supply Chain & Logistics: Where Are We & Where Are We Going?

Cerasis

Supply Chain Management. Supply chain management is a broad term used to describe the current use of the industrial internet of things in the supply chain. Simply using common calendar tools, such as Google, means you are using the IoT, but the Industrial Internet of Things (IIoT) leads to the use of connected, smart devices to reduce inefficiencies, delays, and inaccuracies throughout the product lifecycle, including procurement as well. Warehouse Management.

Top 4 Logistics Trends to Keep Top of Mind Going into 2016

CH Robinson Transportfolio

On a recent episode of Talking Logistics , Adrian Gonzalez and I discussed four key trends that should be on your radar as you prepare for 2016: Potentially slower economic growth, transportation market, bid season, and risk management. No matter the economic outlook, it will have an impact on companies and how they view logistics and supply chain. Having realistic and sustainable expectations when managing your transportation spend will be key. Risk Management.

[e-Book] The Most Impactful Supply Chain & Logistics Trends in 2017

Cerasis

This is quite the appropriate quote from Supply Chain thought leader, Steve Banker, the Service Director, Supply Chain Management at ARC Advisory Group, a leading industry analyst and technology consulting company. The reality is that the speed at which the supply chain & logistics industries are changing are breathtaking. Download the all new Cerasis e-book "The Most Impactful Supply Chain & Logistics Trends in 2017" by Filling out the Form Below.

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Unlearning Supply Chain Management

Talking Logistics

The near-infinite processing power Cloud computing provides (along with other technological innovations) will cause everyone in the supply chain and logistics field to unlearn the way we’ve always done things, everything from the way we design software applications to how we design and manage supply chain processes. The “Great Unlearning Begins” I wrote back in December 2014; it was one of my supply chain and logistics predictions for 2015.

Mitigating Logistics Risk Through Blockchain

Shipchain

Logistics will always contain risks, but the use of blockchain in supply chain management can go a long way in prevention and mitigation. The applications of blockchain in supply chain management are growing, and supply chain leaders now have a unique opportunity to bring end-to-end visibility to the darkest and most secluded parts of their organizations via blockchain. Logistics Risks Lead to Higher Freight Spend. Better Traceability Reduces Risks.

Market Beat. Four Thumbs Down and One Thumb Up.

Supply Chain Shaman

Globally ten percent of jobs are in manufacturing, while 37% are associated with supply chain management. Over the last decade, consultants and analysts pushed a vision of ERP as the backbone of supply chain management that has not delivered on the goods.

Experts Choice Of Top Online Logistics Resources

Freightos

The Experts’ Choice of the Top Online Logistics Resources. So I went straight to the source and asked consultants, trade reporters, Wall Street Journal reporters and others, what their go-to logistics and supply chain sources were. Experts’ Choice: Supply Chain and Logistics Email Newsletters. This is the experts’ selection – but if we had to choose just one, our go-to read is the fast-rising WSJ Daily Logistics Report. Ti Logistics Briefing.

New Lithium-Ion Battery Shipping Regulations Can Impact Electronics Supply Chains (Part 2)

Resilinc

In Part 2, we discuss why many shippers and advocacy groups disagree with the prohibition, what this ban can mean to supply chain and procurement professionals, and provide next steps for those potentially affected. supply chain visibility supply chain resiliency supply chain risk management logisticsIn part 1 of this blog, we examined lithium-ion batteries in the supply chain context and examined the recent ban's stipulations.

Supply Chain Risks: Which Are Top of Mind Today?

Talking Logistics

If you were to add a subtitle to every supply chain professional’s job description it would be Risk Manager or Risk Mitigator. The reality is that supply chain management is not just about managing orders and transportation and inventory — it’s about doing all those things while also navigating through the many risks that could disrupt your supply chain or bring it to a halt. What are some of the biggest supply chain risks companies face today?

This Week in Logistics News (July 20-24, 2015)

Talking Logistics

There was a lot of supply chain and logistics news this week, so let’s go straight to it. UPS Said to Be in Talks to Buy Coyote Logistics for $1.8 Bloomberg broke the news this week that UPS is reportedly in talks to buy Coyote Logistics for $1.8 billion, which if it happens, would be another large deal in the third-party logistics (3PL) industry since December (see, for example, FedEx acquisition of GENCO and XPO Logistics acquisition of Norbert Dentressangle ).

Where Should Supply Chain Time Be Spent After the Pandemic?

Supply Chain Game Changer

The pandemic has caused Supply Chain professionals to scramble to restore supply lines, respond to highly volatile demand patterns, find alternate logistics channels, and work under the restrictions of home quarantine. How did people manage through the situation? Digital Supply Chain ) Asset management and Cash cycle improvement. Leadership Strategy Supply Chain Management Risk ManagementSubscribe Here! Email Address.

Needed: An Analytics Platform to Support the New Face of Procurement Transformation

Supply Chain View from the Field

As organizations continue to discuss the notion of procurement value transformation, there is a noticeable gap between the stated intentions of organizations to pursue value, and their actions as they pertain to on-going adversarial approaches to supplier relationships. As Gerard Chick and I noted in our recent book “The Procurement Value Proposition” (2015), many organizations see their supply function as a key driver of competitive advantage.

Google Will Acquire a 3PL – And Other Supply Chain and Logistics Predictions for 2015

Talking Logistics

I use this example to illustrate the challenges (or, perhaps, the futility) of making supply chain and logistics predictions. Simply put, I admit upfront that my supply chain and logistics predictions below are biased and flawed, but I make them anyway because it’s a fun exercise, and also because I hope it generates some thoughtful conversations and ideas. For related commentary, see: In Logistics, Somebody Has to Own the Assets.

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Job opening: International Category Manager – Logistics at Rockwool

Supply Chain Movement

International Category ManagerLogistics. Can you deliver added value and cost savings from a supply chain, optimise and develop procurement processes, manage a wide range of suppliers internationally and identify new supply sources? In order to strengthen our international procurement team, we are offering a Sourcing & Procurement position in logistics with both professional challenges and personal perspectives.