As your business learns the importance of shifting from cost to value, it becomes more vital than ever to have actionable intelligence on your supply chains, procurement categories, and suppliers. Hiring an experienced and skilled supply chain consultant can help streamline your business in many ways. With their help, you can make informed decisions to improve your manner of planning and acting proactively. Here are three crucial services that a supply chain consultant can provide to enable proactive procurement:
1. Supply chain risk management – Risks in the supply chain can come from critical suppliers and the extended or n-tier suppliers. Hence, it is important for your business to be able to see through every aspect of the supply chain and be able to identify risk and performance indicators to avoid surprises. Supply chain risk management can increase your visibility into your extended supply chain through ongoing monitoring of critical suppliers and supply chain mapping. The supply chain consultant can continuously monitor key risk indicators in your supply chain, too. That way, any risk indicator can easily be spotted and resolved before it causes further problems.
2. Supplier risk assessment – Critical suppliers must be monitored and assessed thoroughly based on factors like their financial health, sustainability, and the status of their business. A supply chain consultant can conduct the assessment on your behalf, while performing on-going market intelligence to uncover any risk, which your critical suppliers may be exposed to.
3. Sourcing intelligence – The supply chain consultant can provide in-depth analytical insights and intelligence to help you develop tactical and strategic sourcing requirements, which are crucial for reducing the costs of sourcing. It should help you minimise sourcing time, boost negotiation intelligence, and broaden your portfolio of suppliers, too.
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