Challenge: Client distribution of perishable products across approximately 150 retail stores in 35 states was creating challenges for receiving teams, who struggled to find and download data loggers when unloading trucks. Compliance failures resulted. For recovered devices, a time-consuming download process followed which also required outdated software.
Challenge: A multinational oil and gas company relied on thousands of suppliers worldwide — including remote partners in Azerbaijan, Alaska and Angola — for time-critical materials. However, the company lacked adequate visibility and transportation management over it’s 60,000 purchase orders per year, resulting in incomplete deliveries, poor shipment-status insights and high administrative and process costs.
The coronavirus pandemic has had a huge impact on global risk-management strategies. Many companies learned in 2020 that their supply chains weren’t prepared for a disruption of such massive scale. Now, they’re determined not to get caught short again.
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: With Europe shutting down amid the COVID-19 pandemic, a global automotive parts supplier needed to convince a key client that it had visibility to avoid potential disruption in its supply network.