Quickly assess and act on critical risks in your supply chain
Selecting the right partners to do business with is a critical part of the procurement process. Most organizations put a lot of effort into finding suppliers who meet regulatory and brand standards at the right cost point. But what happens after that? For many, it’s a “let and forget,” and even those with supplier relationship management programs need to balance ticking boxes against really knowing their suppliers.
Many organizations are recalibrating supply chains and electing to onshore. However, is there enough focus on who you are buying from and the commercial workings of your contracts? The cost of a supplier failure far outweighs the cost of assurance.
Delivering positive change – The Proxima approach
Supplier Transparency Checks are a rapid commercial assessment of key suppliers (and their suppliers where appropriate) to ensure visibility of trading relationships. A review of expected commercial standards, their delivery, and maintenance. This service provides;
• A quick fire assessment of key suppliers in the chain and potential risk areas to focus on.
• Review of contractual standards, commitments, and financial performance.
• A supplier appraisal, which includes recommendations and corrective actions.
Proxima deploys a team of experts into the organization, aligning to the specific domain/category/department area and backed up by analysts and researchers. Working alongside stakeholders to understand the supplier landscape, agree, and prioritize the focus and scope. Then define the standards and tests required before undertaking the supplier assessments. The service can include:
• Identification of risks and immediate red flags and take action.
• Deep dives into commercial workings and cost and pay rates of staff.
• Assessment against other operational, regulatory or ethical standards (e.g. UNSDGs).
• A short and medium-term commercial strategy for partnerships and oversight.