Author Archives: By riskmethods

Driving supply chain risk strategy during coronavirus recovery

In parts of the world, the coronavirus pandemic appears to be waning. Yet the global economy is now stuck in the mud. Will this standstill turn into quicksand for your company?

As production ramps up again, procurement, purchasing and supply chain managers are no doubt weighed down with a heavy workload already — but you’ll also need to devote time to securing your supply chain in the future. Here is a five-point guide to drive your supply chain risk management strategy during coronavirus recovery.

Panama Canal Crisis – Are You Prepared?

Spend Matters welcomes this guest post from riskmethods.

On Friday Aug. 7, the Panamanian government declared a state of emergency due to the ongoing drought. The Panama Canal, through which 5% of the world's goods are transported, has been heavily affected by this drought.

If you think your company might also be affected by an upcoming supply shortage, we would like to provide you with the following information on the event as well as suggested actions you can take in the remaining time in order to reduce the impact for your company.

Measuring Supply Chain Risk Management ROI

Everyone knows that mitigating risk in the supply chain is very important. Nevertheless, supply chain risk management often is still not one of the top priorities in procurement compared to other activities related to increase savings. This is true despite the fear from experts that supply chain risk could already rise again over the next 3 months, according to the latest CIPS Risk Index Report.

Why a Butterfly Can Destroy Savings Targets

“When a butterfly flaps its wings in one part of the world, it can cause a hurricane in another part.” This famous quote describes, in simple terms, a small change in one place can cause a big reaction in a difference place. It also highlights what could happen in today’s business environment with global relationships and complex supply chain interdependencies.