Insight

Top 10 third party management mistakes

Would you know if one of your key suppliers was facing a credit downgrade? Reacting in real time is no longer fast enough. Advance warning could give you time to consider your best options — before any of these what if’s turn into a supply disruption or cost your organization a million or more a day in lost production.

Addressing supplier disruption with intelligence

Everyone knows a natural disaster can wreak havoc on third party network management. But not every disruption appears with the force of a hurricane or tsunami. For large manufacturers managing hundreds of third-party vendors, sometimes the dynamics playing out below the surface can change the course of even the most well-orchestrated third party network. The surprise bankruptcy of a closely held service provider, a labor action on the other side of the world or the discovery of counterfeit components might be all it takes to bring your production to a grinding halt.

Top 10 third party management mistakes

Addressing supplier disruption with intelligence