Economic shifts are times when you need to be extra attentive to a supplier’s financials and these 10 financial tools will allow your team to quickly assess their risk.
A site walk is an interview with a supplier as much as it is a tour of their facilities and assessing a supplier’s commitment to quality and understanding their work environment is most effective by visiting them on premises.
Enhance your firms short and long term future by establishing a single round of competitive bidding and then partnering with your supply partners to drive cost out of your supply chain.
The Launch Director of a rocket destined for space relies on a series of signed-off instructions before a rocket is “go for takeoff.” These operational checklists are meticulously reviewed to assure each flight is executed safely and flawlessly. Similarly, manufacturers must maintain a robust process to efficiently and effectively assess suppliers’ capabilities, operations, and financial stability both early in the supply-building stage and post sourcing to ensure successful production launches and ongoing operations.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.