Finance and supply chain: These two essential business functions speak different languages and live in different worlds. Both contribute mightily to the success and the profitability of their companies, in their own ways. Manufacturers need to get them to synchronize if they are to survive and succeed — and to achieve the agility and the resilience everyone strives for coming out of the pandemic crisis.
Vendor risk management, also called supplier risk management or third party risk management, describes the efforts of managing the risks posed by the companies who sell you products and services. This white paper from riskmethods will help you identify, assess and mitigate the risks posed by your vendors or other third parties.
Challenge: A consumer goods company was missing on-time, in-full delivery targets and incurring additional transportation costs because of delayed deliveries from distribution centers, stock-out problems, and a lack of data to track OTIF targets. It needed a better view of its transportation system to improve service levels.