SpendEdge, a well-known procurement intelligence solution provider, has announced the completion of their latest risk management framework for a retail company. The study highlights how developing a risk management framework helps companies to identify and categorize risks without dwindling their profit margins. It also gives a detailed analysis of how companies can analyze supply chain costs and implement suitable measures to improve them.
While global supply networks have been an integral part of the retail sector, managing risks associated with them has always been a task for companies. Their procurement officials and market leaders have always been on a lookout to improve the efficacy of the risk management process to mitigate risks and supply chain disruptions.
According to the procurement experts at SpendEdge, Companies must profile their global supplier base and measure the supply chain vulnerability to evaluate the implications of risks in the supply chain.”
The Business Problem: The client is a leading retail company with operations spread across different geographical locations. With the changing customer expectations, the client was finding it challenging to meet customer demands while maintaining the profit margins. They also lacked an effective risk management process that would help them anticipate supply chain risks. This compelled the client to leverage SpendEdge’s expertise in formulating a robust risk management framework to identify and categorize risks based on their priorities.
Anticipating risks in the supply chain can be a difficult task for companies. Talk to our experts and know how our experts can help you analyze risks and address them.
The Solution Offered: The supply chain risk management experts at SpendEdge conducted a detailed analysis to identify opportunities for mitigating risks. They also devised a potent six-step risk management framework for the retail company to help them deal with potential supply chain disruptions. This not only helped the retail company to meet consumer demands but also enabled them to save $80 million.
Devising an effective risk management framework requires a comprehensive understanding of the supply chain. Request a free proposal and know how our portfolio of risk management solutions can assist you.
SpendEdges risk management framework helped the client to:
- Achieve savings of $80 million.
- Devise and implement risk mitigation strategies.
- Request a free demo and know how our experts can help you reduce costs.
SpendEdges risk management framework also offered predictive insights on:
- Addressing concerns of stakeholders.
- Devising cost-effective measures to manage supply chain risks.
- Read the complete article to know more: https://www.spendedge.com/casestudy/risk-management-retail-company
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