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 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?
Looking forward to getting your feedback and comments.