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.
Challenge: A U.S. multinational had 14 manufacturing sites in Europe, the Middle East and Africa (EMEA). Each site booked transportation using a carrier-specific terminal and website, which resulted in a multitude of site-specific and carrier-specific shipping systems. Consequently, the company lacked centralized visibility for shipment movements and transportation spend.