1. Protecting confidential data.
If you don’t manage this supplier risk then you could find your organisation is fined, sued, or suffers reputational damage in the media.
2. Continuity of supply.
If you don’t manage this supplier risk then you could find your internal operations are impacted, your customers suffer, or your reputation is damaged.
3. Unethical/Illegal behaviour.
If you don’t manage this supplier risk then you could find your reputation and brand is damaged, and you may be prosecuted.
4. Supplier financial difficulties.
If you don’t manage this supplier risk then you could find your supplies are interrupted, your customers are affected, your internal operations are impacted and your reputation is damaged.
5. Quality of supply.
If you don’t manage this supplier risk then you could find your customers and/or internal operations are affected, and you could suffer financial losses.
Make sure you are managing your supplier risks.
If you need support with this or any other aspect of Supplier Management, get in touch – we’d be delighted to help.
