How often do you reassess your highest risk suppliers?

Last week I came over the graphic below from the CAPS Research “Managing Supplier Risk”. It’s the result of a survey about how often organizations reassess highest risk suppliers. Most of the companies initially evaluate their suppliers with the highest risk potential.

Reassess high risk suppliers

Reassess high risk suppliers

Reassess highest risk suppliers: What happens afterwards?

As a supplier status never remains static and the risk landscape is so complex and changes constantly, you would assume that reassessing those suppliers would have a high priority. The illustration shows that most companies perform this reassessment quarterly – this seems scary to me!

What do you think? How often do you reassess suppliers in your highest risk segment or tier?

Risk assessment supplier

Risk assessment supplier

Looking forward to getting your feedback and comments.

 

Heiko Schwarz is the Founder and Managing Director of riskmethods, responsible for Sales, Marketing and Business Development. Heiko has been working in the software business for 16 years, with 13 years in different areas of the strategic purchasing market. He has excellent knowledge in procurement, supply management and risk management and has been successfully helping supply chain and procurement organizations implement solutions to increase performance, reduce costs and minimize risks.


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