A key component of supplier risk management for many companies is monitoring the supplier's financial health and viability to try and obtain early warning of potential supplier issues that could impact the continuity of supply. However, by itself, supplier monitoring misses opportunities to actually bolster and improve the supplier's financial health, which is particularly important for those suppliers that are highly leveraged and/or have cash flow challenges.
The new global marketplace has brought many benefits for consumers, while also ushering in new levels of expectations for manufacturers, which can complicate the delivery of products.