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Supply Chain Risk Management (SCRM)

Mar 20, 2023
Supply Chain Risk Management (SCRM)

Supply chain management becomes a larger and more complex system as main players are not only buyers, logistic experts and suppliers but also included other members such as customers, subconstructers, freight forwerders and outsourcers. The larger the supply chain and the more different functions it includes, the more risk factors it contains.

Extreme situations can occur, such as failure to deliver ordered products on time, failure to manage follow-up and control properly, supplier bankruptcy, or a fire in the company. It is always advantageous to work with suppliers whose reliability you are convinced of.

To make your supply chain more sustainable, transparent/traceable supply chain management strategies should be developped. Are you questioning your suppliers' social compliance procedures, sustainability certifications and validity? Do you keep digital records of your transactions with your subcontractors? How well do you know the information about the products you use? You should digitally record information about the origin of raw materials, blend content information, mass balances, and cost calculations.

You should establish criteria for prescreening supplier selection. You can prepare an appropriate procedure. The procedure can include aspects such as compliance with social standards, sustainable production methods, renewable energy criteria, and chemical programs.

The importance of your supply chain partners is very important for your own brand value and reliability. Making your supply chain transparent, updating it seasonally, and being selective will keep you one step ahead.

Posted by Abiteks

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