Supplier Financial Risk Assessments
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The Risk of Suppliers Going Out of Business is Never Far Away
The financial stability of your supply base is critical for any business as their ability to perform has a direct impact on your own ability to perform. In an ever increasingly tough economic environment, the risk of suppliers going out of business is never far away and the situation can change from one minute to the next.
The cost of supply chain failure on a business is massive and can on occasions be catastrophic. It has never been more important for businesses to systematically assess the supply chain and risk of failure. A key element of this is in assessing the financial stability of your suppliers.
This continual assessment can be time consuming and resource intensive and can often get deprioritised when the time required is in competition with other demands on your team’s time. This leaves you open to increased risk of failure.
We Can Deliver Financial Risk Assessments on an Ad-hoc or Routine Basis
This is where the team at Apsiz can help. Working in partnership with Dun and Bradstreet to deliver Supplier Financial Risk Assessments on an ad-hoc or routine basis, we can ensure that you have the risk management processes in place to identify who your critical supplier are, to establish a routine process for monitoring supplier risk of failure and to provide reporting that will highlight the levels of risk, determine risk mitigation plans and ensure that your business is always on the front foot when faced with any supply chain failure. This can be provided as a managed service to minimise the impact on your resource capacity, ensuring that you can continue to deliver your business requirements whilst ensuring that you are also managing the risks of failure.