The globalization of the economy, the relocation of production, cascading subcontracting, company mergers and industrial consolidation are all putting the supply chain at risk. All these trends have the effect of weakening a supplier’s supply chain. Sometimes to the point of interrupting production.
To make their supply chain safer, principals must be vigilant and include their supplier relations in a management system. The first step is to map these risks: to secure your supply chain, you need to know where it is vulnerable. One tool will give you the answer: supplier risk mapping. Once you’ve read the results, you can take preventive action.
