Supplier insight – including understanding the risks your suppliers bring to the table regardless of where they’re located - is the backbone to effective supplier risk management. Fast access to quality supplier information puts you in a much stronger position to make informed decisions to reduce the impact of supply chain disruptions on your business – and maybe emerge even stronger.

 

The world events of last year, from the tsunami in Japan to the financial turmoil in Europe, were a wake-up call to companies that managing supplier risk – across boundaries – needs to be a top priority. This realization has led to a shift in thinking, from asking, “What is supplier risk management?” to “How can I better manage supplier risk?”

 

At D&B we realize the importance of seeing the entire supplier picture. And, through our partnership with Ariba, you have access to information on more than 205 million businesses in more than 200 countries, helping you get ahead of unwelcome supplier surprises.

 

To best prepare for supplier disruptions, you need to anticipate them. Before the unexpected happens, ask yourself:

  1. How quickly can I access reliable information about the situation?
  2. How thoroughly can I analyze the information to understand how the situation affects me?
  3. How confidently can I make decisions about what to do and act on those choices?

 

Having a more complete picture of a supplier enables you to answer these questions. And, supplier insight extends its value beyond risk management. It can help you:

  • Navigate the shifting sands of the global economy
  • Elevate supplier diversity strategies
  • Meet government and industry compliance mandates
  • Move into new markets with an expanded supply base
  • Accelerate product innovation and more

 

Later this month, Susan Walter, D&B Global Relationship Manager for Ariba, will be participating with Bausch & Lomb in the Ariba Live Barcelona panel discussion “Efficient Spend Analytics to Drive Sourcing Pipeline and Savings”. Please join them on May 31st at 11:45 a.m. to hear more about overcoming spend visibility challenges for more effective supplier management. 

 

And, to learn more about what we’re hearing from customers about supplier risk, check out our conversation with Susan Avery of My Purchasing Center at the ISM conference.