The Covid-19 pandemic has disturbed the supply chain system with unknown problems and barriers to companies’ operations, productivity, and profitability. 2020 and 2021 experienced the most significant supply chain challenges worldwide.
2022 will bring more problems, including unforeseen twists and turns, requiring businesses to pinpoint supplier vulnerabilities and focus on continued agility, resilience, and adaptability to new methods. Today’s article will give you some practical tips/strategies to identify supplier vulnerabilities. Read on!
Supplier Surveillance & Delivery Assurance
There are numerous suppliers involved in the complex supply chain ecosystem. The complicated supply chain system prevents companies from scheduling their projects because they face various challenges, such as delayed products, materials, and equipment delivery, preventing businesses from completing their projects on time and budget.
Therefore, effective supplier surveillance, delivery assurance, and performance monitoring are essential for getting valuable information about your project and making informed decisions without risks.
Supplier surveillance is an integral component of the overall supply chain ecosystem or management. It establishes, develops, and maintains effective relationships between businesses and suppliers. In addition, this strategy can help you evaluate past performance results, bring transparency, and ensure product quality performance.
Although supplier surveillance vary from business to business, it focuses on providing you with up-to-date, relevant, and valuable information about your relationship with each supplier and the delivered results. Besides, this strategy focused on evaluating product quality and delivered services, costs, deadlines, and pricing policies.
The purpose is to streamline logistics and material handling processes. Using these matrices can optimize subjective assessments, such as ease of communication, degree of innovation, commitment, etc., and improve your company’s overall performance, productivity, and profitability.
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14 окт 2024
