Supply Chain Risk Assessment for a Leading Fast Food Industry Player – A Case Study by SpendEdge
5 Step Supply Chain Risk Assessment Process
In today’s competitive business scenario, maximizing the value obtained from the supply chain while catering to the fluctuating customer needs is a difficult balance to achieve. To accomplish this, companies need to identify the root cause of risks, which can be done with the help of a robust risk assessment process. A supply chain risk assessment process helps identify the supply chain risks and the operational vulnerabilities associated with supply chain functions.
It also helps companies to identify where the threats exist across the supply network and implement appropriate risk mitigation strategies to overcome them. Though several institutions have developed guidelines on which organizations can base their supply chain strategies, it is essential to develop an industry-specific risk assessment template. Our experts have outlined a five-step approach to supply chain risk assessment:
Step 1: Define stakeholder concerns
Step 2: Identify the risk factors
Step 3: Devise precise risk mitigation strategies
Step 4: Partner with third-party procurement intelligence firms
Step 5: Simulate the outcomes
Fast Food Industry Trends
In today’s highly complex food and beverage market landscape there’s no doubt that the restaurant business is evolving constantly, and that’s true for all fast food companies as well. Due to this, we’re starting to witness a higher adoption of faster payment methods such as in-app and contactless payments, globally.
Wonder what other trends are impacting fast food industry firms? Let’s take a look at the key fast food industry trends that our experts predict will change the fast food industry landscape in the coming years:
- Faster payment methods
- The use of organic and healthy ingredients
- Leveraging technology to better serve customers
About the Client
The client is a Fortune 500 food and beverage company situated in the U.S. The fast food industry player is a leading innovator in the food and beverage market and is well-known for bringing in the concept of ‘healthy fast food’, which turned out to be a major trend among the younger global population.
Continue reading to gain in-depth insights into the benefits of developing a supply chain risk assessment template or request a free proposal.