Supply Chain Risk Assessment Solution Helps a Technology Firm Remain Updated on Potential Risks and Minimize Losses
The Procurement Pain Point
To better understand the risks associated with the supply chain, the client – a multinational technology firm with operations spread across 170 countries across the globe – approached SpendEdge to commission a comprehensive supply chain risk assessment engagement that helped them in obtaining periodic reports and updates focused on tracking and assessing potential supply chain risk factors. The key risk factors considered were around geographies, raw materials or commodities, suppliers, and adverse events. Additionally, this supply chain risk assessment also helped the client remain aware of any adverse event that could result in potential disruption and stay prepared to minimize losses.
The primary objective of this supply chain risk assessment engagement was to offer the client with a dedicated procurement market intelligence platform by deploying high-quality procurement analysts and experts, implementing best-of-breed methodologies and processes, and offering unrivaled research expertise.
With the presence of experienced procurement intelligence units at multiple locations, we support our clients across the globe in minimizing their procurement costs, lead times, and risks on every project through established practices and benchmarking methods. Furthermore, to understand the risk factors associated with the supply chain in the regions under focus, SpendEdge’s supply chain risk assessment experts also conduct frequent interviews and discussions with industry experts as well as key stakeholders.
Procurement Insights Offered and the Outcome
To address the specific risk assessment requirements of the client, SpendEdge deployed a team of procurement analysts with experience in conducting comprehensive supply chain risk assessment studies for a wide array of clients. By following a blended methodology of interviews and discussions with industry experts and an in-depth secondary research, our procurement experts conducted comprehensive supplier market intelligence and risk assessment assignments. This approach helped the client gain timely granular insights related to potential risks to the supply chain in relation to geographical risks, raw material/commodity supply risks, supplier site related risks, political/labor related risks etc. We also monitored risks associated with terrorism and environmental aspects specific to certain procurement destinations of the client.
With strong expertise in delivering supplier prequalification inputs based on robust research methodologies, our procurement analysts deployed stringent quality surveillance processes and procedures that helped the client understand defects and shortcomings associated with the quality of products delivered by specific suppliers. By tracking the demand for specific commodities, our experts predicted possible changes in the availability and pricing of commodities and also helped the client understand its subsequent impact on their business. In a span of just five weeks, SpendEdge was able to help the client assess the risks associated with the current destinations and suppliers, and to identify alternative optimum sourcing destinations and world class suppliers. This helped them understand current state, foresee potential risks and stay aware of possible ways of mitigating these risks. By analyzing information from various data sources, this supply chain risk assessment also helped the client in designing the right approach to stay prepared to manage potential risks.