A leading sensor technology company wanted to enhance their procurement strategies to tackle risks across their supply network. The client also wanted to develop a supply chain risk management strategy to boost their procurement efficiency. To do so, the sensor technology firm approached SpendEdge to leverage a supply chain risk analysis solution and devise an accurate risk management strategy. The supply chain risk analysis engagement entailed a quantitative analysis of various supply chain categories to build an exclusive risk management model.
About the Client:
A leading player in the manufacturing sector, specializing in the sensor technology segment.
The manufacturing sector client was facing several challenges owing to their inefficient risk management strategies.
How did SpendEdge Help the Client?
- Step 1: Leveraged supply chain intelligence
Leveraging supply chain intelligence offered an all-encompassing analysis of the supply market scenario, trade flows, economic conditions, and supply chain risks.
- Step 2: Identification and assessment of supply chain risks
Once the risks are identified and their source has been discovered, it is essential to assess each risk factor to measure their impact on the organization’s growth. This step involved the classification of identified risks based on the impact of their consequence and likelihood of occurrence.
- Step 3: Analysis of gathered information to develop a precise risk assessment framework
To devise an effective supply chain risk management framework, it is essential to analyze the gathered data to identify risks and develop strategies to avoid their future occurrence.
Key questions answered in this supply chain risk analysis engagement include:
Benefits of the Engagement:
The supply chain risk analysis experts at SpendEdge devised a three-step comprehensive approach that helped the manufacturing sector client to develop a precise risk management framework by taking into account all the risk factors across the organization’s supply network. Also, the developed supply chain risk management model enabled the client to enhance procurement efficiency.
Why implement supply chain risk analysis?
Organizations across industries face several challenges in maximizing the value obtained from their supply network to meet the end-user’ expectations for sustainably. To maximize supply chain value and enhance sustainability, businesses need to identify the source of risks across the supplier network and implement iterative strategies to mitigate them.
Moreover, since supply chain risks range from violation of human rights to operational disruptions, it is essential to consider key factors affecting the supply network while devising an appropriate risk management framework. This is exactly what the supply chain risk analysis experts at SpendEdge specialize in. Our industry-specific guidelines help clients develop precise supply chain risk management strategies to ensure that they meet the industry needs and framework standards.
SpendEdge’s supply chain risk analysis solutions are guided by the principles of supply market intelligence to help clients enhance their overall supply chain efficiency. In this supply chain risk analysis engagement, the three-step approach empowered the sensor technology client to integrate supply chain data from various sources to identify supply chain risks and implement appropriate risk mitigation strategies.
To know more about our supply chain risk analysis solutions