Organizations need a comprehensive sense of global and marketplace factors that could potentially disrupt procurement and sourcing. Given the myriad moving parts to account for—from the marketplace, governments, environmental and social concerns, third-party logistics providers, or from customers—procurement teams need technology support and custom parameters in order to continuously monitor risk factors. Such capabilities are critical to monitoring procurement risks.
From APQC’s Sourcing and Procurement Blueprint for Success, this article details the importance of monitoring external risk factors before they disrupt the supply chain. These findings are supported by APQC’s Open Standards Benchmarking results and real-world examples from top performers.