Supply Chain Risk Analysis Engagement Overview
The client, a leading specialty tire industry player, wanted to proactively address risks in their supply chain. Also, the client wanted to address the inherent risks in their increasingly fragmented supply chain network. To enhance production and delivery competencies across their supply network, the specialty tire industry player approached SpendEdge to devise a comprehensive approach to risk analysis throughout their global supply chain. The approached included a three-step methodology – identification, analysis, and risk management.
During the course of the supply chain risk analysis engagement, the specialty tire industry player identified, analyzed, and prioritized supply chain risks. Additionally, the integration of supply chain risk analysis as a core risk management strategy helped the client evaluate the future impact of risk factors.
About the Client
An American multinational specialty tire manufacturing company. The company specializes in the manufacturing of tires for commercial trucks, automobiles, farm equipment, motorcycles, light trucks, airplanes, race cars, and heavy earth-mover machinery.
The client – a leading specialty tire industry player – was facing predicaments in limiting supply risks throughout their supply chain.
How did SpendEdge Help the Client?
Step 1: Built sustainable partnerships
Achieving supply chain excellence required the specialty tire industry player to invest in understanding every frontier between internal and external parties within their supply chain in terms of the expectations for reliably delivering quality excellence.
Step 2: Developed a systematic risk prioritization strategy
Implementation of a robust supply chain risk analysis program can be a daunting task for well-established firms in the specialty tire industry. SpendEdge’s robust risk prioritization matrix outlined a systematic approach, which helped the specialty tire industry player identify the best risk mitigating strategy.
Key questions answered in this supply chain risk analysis engagement include
Benefits of the Engagement
SpendEdge’s supply chain risk analysis offered the client valuable evidence to evaluate, manage, and communicate the associated risks related to specific products. The supply chain risk analysis engagement also helped the client in establishing a well-defined plan to minimize the risk of quality defects and agree on an approach for communicating and mitigating risks across the supply chain.
Why incorporate supply chain risk analysis solutions?
The rapid growth of global supply chains across the specialty tire industry has mandated the use of supply chain risk analysis to ensure consumer safety and regulatory compliance. Additionally, the implementation of supply chain analysis enables companies to develop risk mitigating strategies, ensure the long-term success of their products, and enhance patient safety.
Today, managing supply chain risks have become critical and more complex than ever before due to the onset of globalization across emerging economies. Additionally, the increase in market opportunities has resulted in greater risk factors that could potentially impact the survivability of any organization. This makes it necessary for firms to increase their visibility into not only their own processes but also those across supply chains.