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Supplier Risks And Confronting Supply Chain Unknowns

PYMNTS

. “You never know what you don’t know,” as Paul Blake, senior manager of technology product marketing at procurement software firm GEP , put it. Sure, a corporation with complex international supply chains can never exactly forecast the socioeconomic or environmental factors that could impact business.

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A New Reality For Supplier Risk Management

PYMNTS

Supplier risk management is often a resource-intensive practice and rarely a target of technological investments. As a result, corporates will often let their vendor relationship management processes fall by the wayside. “Before, companies would think they needed to assess risk once a year,” Frank said.