Supply Chain Now cover image

Supply Chain Now

Mitigating Supplier Risk through Supply Chain Business Network

Dec 6, 2023
Jeff Schwartz, VP of Solution Consulting at Infor Nexus, discusses mitigating supplier risk through supply chain business networks. Topics include understanding risks beyond first-tier suppliers, data collaboration, network development for seamless collaboration, and the importance of pushing business processes to meet demands.
53:12

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Understanding suppliers' suppliers is crucial for mitigating risks
  • ESG criteria alignment incentivizes sustainability practices among suppliers

Deep dives

Importance of Understanding and Supporting Diversifying Sourcing Strategies

Diversifying sourcing strategies to mitigate risks introduces complexity, requiring a network approach to facilitate engagement with suppliers. Offering services like onboarding and ensuring technology is easy to adopt by suppliers is crucial. Extending financial benefits to all suppliers, not just the largest ones, is essential.

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