At Sphera [formerly riskmethods] SCRM Summit 2022 in Boston, procurement and supply chain experts shared their experiences on implementing supply chain risk management programs. In this speaker presentation with an interactive Q&A, you can follow the SCRM journey of Fortune Brands, a global water innovations and plumbing company.
When evaluating supplier risk, financial data remains important. However, at Fortune Brands, their supply chain risk methodology focuses on a second key point: Know your risk appetite. In other words, how much risk are you willing to accept? Learn when you have to react with mitigation.
Further advice accompanies each stage of SCRM implementation. Get people on board with the processes. As the program matures, scale it across functions within the enterprise and expand the risk areas covered into the n-tiers, your suppliers’ suppliers. Learn best practice and pitfalls to avoid in this Q&A with an experienced supply chain risk management professional.