Devising Risk Assessment Framework to Minimize the Cost of Maintaining Supplier Data by Analyzing Risks in the Supply Chain Networks | SpendEdge

It also gives a detailed overview of how supply risk assessment process can address risks occurring in the organizations value chain.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, February 6, 2019
Information
Tags: 
Retail, Food, Beverage, Supply chain management, Business process management, Business, Management, Risk, Supply chain, Supply-chain network, Operational risk, Supply chain risk management, Supply-chain management
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Summary
Key Points: 
  • It also gives a detailed overview of how supply risk assessment process can address risks occurring in the organizations value chain.
  • Such needs compelled the client to leverage SpendEdge's supply risk assessment process and devise an effective supply chain risk assessment framework for their business.
  • SpendEdges supply chain risk assessment process helped the client to:
    Minimize the cost of maintaining supplier data.
  • SpendEdges supply chain risk assessment process also offered predictive insights on:
    Identifying demand risks, operational risks, supply risks, and economic crises in their supply chain networks.


SpendEdge, a well-known procurement intelligence solution provider, has
announced the completion of their latest supply
chain risk assessment study for a company in the food industry.
The study highlights how changing customer demands require companies
to understand millennial preferences and employ new strategies to
survive in the competitive market. It also gives a detailed overview of
how supply risk assessment process can address risks occurring in
the organization’s value chain.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190206005543/en/

Supply chain risk assessment study for a company in the food industry. (Graphic: Business Wire)

Supply chain risk assessment study for a company in the food industry. (Graphic: Business Wire)

The demand for healthy ingredients, complex flavor profiles, and
environmentally sustainable offerings among consumers are some of the
new trends in the food
industry. These trends are creating challenges for
companies in the food industry and are compelling them to employ
key technologies and acquisition strategies to meet the changing
customer needs. Not only this, companies are forced to identify security
vulnerabilities, justify spending, improve planning and boost their
productivity. This has necessitated organizations to address potential
risks and gain a competitive edge in the marketplace.

According to the procurement experts at SpendEdge, “Supply chain
risk assessment services are vital for organizations to identify,
monitor, and address potential risks to minimize the negative impact
they may have on an organization’s supply chain."

The Business Problem: The
client is a leading company in the food industry with annual
revenue of over $13 billion. Despite being a global leader, the company
was facing several challenges due to their inefficient supply chain risk
management strategies. They wanted to minimize the loses occurring due
to the risks in the supply chain. They were also finding ways to improve
the efficiency of their overall supply chain operations and manage both
short and long-term supply chain risks. Such needs compelled the client
to leverage SpendEdge's supply risk assessment process and devise
an effective supply
chain risk assessment framework for their business.

Want to mitigate supply chain risks and enhance the overall
performance of your organization? Talk
to our experts and know how our supply chain risk
assessment services can help you achieve this.

The Solution Offered: The
experts at SpendEdge offered actionable insights that helped the client
to enhance their risk assessment process and devise an effective
risk management strategy. The risk assessment process improved
the overall supply chain performance of the food industry company
and offered detailed insights needed for understanding market scenarios.
This approach helped the client to identify risk factors in their
external and internal supply chain networks, enhance supplier
negotiation strategies and develop a precise risk assessment
framework.

Companies need effective risk management strategies to enhance the
overall performance of their supply chain. To know how you can implement
such strategies for the benefit of your organization, Request
a free proposal today!

SpendEdge’s supply chain risk assessment
process helped the client to:

  • Minimize the cost of maintaining supplier data.
  • Devise an effective risk assessment framework.
  • Still wondering how a supply chain risk assessment process can help
    your company?     Request
    a free demo     and know how our portfolio of supply chain risk
    assessment solutions can help your organization.

SpendEdge’s supply chain risk assessment
process also offered predictive insights on:

About SpendEdge:

SpendEdge
shares your passion for driving sourcing and procurement excellence. We
are the preferred procurement market intelligence partner for 120+
Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

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Copyright Business Wire 2019