Using Supplier Financial Health Assessments to Identify Supply Chain Risk

The COVID-19 pandemic showed many businesses that they relied on a more tenuous network of suppliers and partners than they expected. Organizations that had failed to look closely at their vendors and suppliers were taken by surprise when key suppliers suddenly couldn’t produce critical materials and components.

With the topic of resiliency now dominating supply chain discussions, it has become essential for companies to implement solutions that allow them to determine the viability of their supplier bases.