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Supply Market Intelligence for Procurement Professionals by Kelly Barner, Jeanette Jones

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SUPPLIER RESEARCH, DILIGENCE, AND RISK MONITORING

Procurement professionals have always understood the importance of evaluating a potential supplier’s financial and operational health, but there is now a more intense focus on the overall practice of supplier risk management. There are multiple reasons why companies are taking increased measures to research and monitor their suppliers for risk. Two of the reasons identified by Deloitte are: 1) the emergence of an “increasingly complex global sourcing landscape,” with organizations using a mix of external providers, and at times “multi-sourcing for a single product,” and 2) a “growth in new service ...

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