forward-thinking and technology-driven to minimise supply chain risks .
As organisations consider supply chain risk , in particular the vulnerability of supply , the need for visibility , transparency and collaboration – both with suppliers and internal stakeholders – is crucial to continually have a pulse on business needs and capacity .
Understanding suppliers , setting clear expectations and implementing process and digital solutions for supplier management empower organisations to effectively reduce risk and strengthen their supply chain , all while avoiding excessive inventory expansion .
“ Transparency within the supply chain is key to diminishing risk ,” Etosha continues . “ By investing in tools that forecast demand and drive transparency , companies can better prepare for and respond to disruptions as they arise .
“ For instance , supplier management software allows companies to analyse data on potential suppliers , such as pricing , quality and delivery capabilities , to make better-informed decisions about which suppliers to work with .
“ As procurement teams evolve , they are turning to technology not just to transform their interactions with suppliers , but also to redefine the metrics and methods of supplier management .
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