Your Supplier Risk and Relationship Maturity Score overview
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Here are some tips and valuable resources
Within your job, maintaining partnerships is a strategic opportunity, not just a transactional process. Building stronger, more collaborative relationships with your suppliers enhances visibility, streamlines operations, and helps mitigate risks. By fostering digital collaboration, you can drive greater efficiency, reduce costs, and ensure a more resilient supply network, ultimately contributing to the long-term success of your organization. Here are some tips and tricks.
- You indicated that you do not have a supplier categorization model based on common supply chain characteristics (beyond procurement segmentation). Although segmentation gives you an idea on the supplier’s importance in relation to your business, the collaboration process and data requirements may vary. As such, as a quick win, we recommend also grouping suppliers based on similar supply chain characteristics, such as manufacturing stage, number of transactions, and digital maturity.
- You indicated that you do not involve suppliers in the digital transformation of your supply chain functions. We suggest identifying one friendly supplier to represent each supplier group, who can give you feedback on your transformation design. Ultimately, your suppliers will need to adopt your design, so it makes sense to incorporate their insights early in the process.
- You responded that you do not know who your suppliers’ suppliers are for your brands. A useful first step that allows you to start small is to document the next tier. At a minimum, you should identify the supplier name, their production site locations, and the material group(s) sourced.
- You told us that you do not have visibility across your multi-tier supplier network on macro risks. Risk-detection across the supplier network is high on the agenda for industry leaders. We strongly recommend that you start by researching how you can identify and resolve your current network blind spots.
- You indicated that your internal KPIs are not aligned with your external manufacturers’ KPIs. At a base level, KPIs consist of datapoints, timestamps, calculations, and a review process. We suggest that you start by identifying common ground with your external partners and establish a certain level of aggregation so you can start to build an end-to-end view.
Valuables resources for you:
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