The enormous challenges and vital importance of managing supplier risk and compliance have been made even more evident by the global financial crisis and recent natural disasters, as well as lean business practices.
Managing supplier risk and compliance is very important, but unfortunately that importance is often under-recognized. When a marketing executive or engineer does a great job, everyone sees the increase in sales or a great new hit product launched with a big bang . . . and with those successes, the bonuses and praise flow. When a supplier risk and compliance manager does a great job, then what happens is . . . nothing goes wrong. Everything goes smoothly. And most of the time, nobody notices. Of course if they mess up, all hell breaks loose.
