SpendEdge, a leading provider of supply market intelligence solutions, has announced the completion of their latest newsletter on mitigating supply chain disruptions by performing supplier risk analysis. The article offers detailed insights into the benefits of supplier risk analysis solution reaped by our clients. The article also highlights how performing supplier risk analysis can help companies to transform their business models and manage operating costs more effectively.
Companies in the energy industry need to transform their business models to manage investments and operating costs effectively. The client, a renowned energy services provider decided to leverage our services to develop a robust supplier risk analysis model. They wanted to identify active suppliers and analyze their spend to improve sourcing and procurement functions.
During the course of supplier risk analysis engagement, our specialists carried out extensive research comprising interviews and discussions with leading stakeholders in the energy services sector. They identified the macro and the micro-economic risks and helped the client to improve workflows, address risks effectively, and restructure their financial capabilities.
Assessing the risk factors impacting the realization of tactical and strategic goals has been a challenge for companies in the oil industry. A multinational company specializing in the manufacturing of mineral oil was facing predicaments in analyzing supplier risks and devising an appropriate risk analysis model. They wanted to analyze risks and perform quantitative analysis of various categories within the supply chain.
To help the client assess the impact of key factors across their global supply chain, our experts developed a proprietary risk assessment matrix and categorized risks based on the probability of their severity and occurrence. They evaluated the potential threats and supply chain vulnerabilities and helped the client to determine the appropriate strategies to reduce the impact of risks on the supply chain.
With rapid changes in the transportation services sector, companies need to keep a track of what’s going on in the industry and devise robust supply chain strategies. One of our clients, a leading transportation service provider was finding it difficult to improve their supply chain while keeping productivity standards. They efficiently wanted to manage the supplier information by alleviating risks and reducing costs while implementing risk analysis strategies.
The supplier risk analysis carried out by our experts helped the client to identify factors that can lead to supplier risks. This helped them estimate the impacts of disruptions across the extended supply chain and focus on services that were aligned with the organization’s core value drivers. Additionally, the solution offered helped the client to minimize the cost of managing supplier data and improve their overall supply chain performance.