Much has been written about developing “win-win” relationships with strategic suppliers that sit high in the top right quadrant for value of spend and business criticality. While certainly an important area of focus, the continued impacts of COVID-19, restrictions to global supply chains and economic losses to business have elevated the need to devote more management attention to “critical” suppliers.
Most procurement teams segment their organizations’ supplier base, often based on spend value and business criticality of products and services being procured. Underpinning this analysis is the need to adequately consider supply risk.
Read our latest article to:
- better understand how to calculate supplier risk
- how to use technology and other approaches to help influence the sentiment of these suppliers and raise your standing as a buyer of choice.