Risk Identification
- Map all critical suppliers and dependencies
- Identify single-source suppliers
- Document geographic concentration risks
- Assess financial stability of key suppliers
- Evaluate geopolitical and regulatory risks
Supplier Assessment
- Review supplier disaster recovery plans
- Evaluate backup supplier options
- Assess supplier capacity and scalability
- Check supplier compliance certifications
- Verify supplier cybersecurity posture
Contingency Planning
- Develop alternative sourcing strategies
- Establish safety stock levels
- Create supplier transition playbooks
- Define escalation procedures
- Test contingency plans regularly
Ongoing Monitoring
- Set up supplier performance alerts
- Monitor industry and market news
- Track leading risk indicators
- Conduct periodic risk reviews