Partnering for Better Supply Chain Risk Management

There are a few moments more likely to send shivers down a supply chain manager’s spine than when assessing the risks throughout the chain. They can be anything from ever-changing regulatory requirements and technological disruption to sudden trade wars and bad weather. It’s no wonder that supply chain risk management is top-of-mind in so many operations.

But supply chain risk management can pose quite a dilemma for most companies. On one hand, they must have it to keep ahead of the disruptions. But, on the other hand, their core competencies lie in delivering the products and services their customers demand.

How to Make Supply Chain Risk Management Part of Your Core Competency

In a report published by Accenture, 75% of companies that participated in the study said supply chain risk management is ‘important’ or ‘very important’. But, despite its importance to most companies, implementing in-house risk management strategies can be costly, time-consuming and, well, risky.

It is that crucial importance of supply chain risk management that points to a reliable solution. If something is so vital to the success of the enterprise, is it better to develop your own competency? To find a partner whose core competency is supply chain risk management?

The Advantages of a Supply Chain Risk Management Partner

A third-party logistics (3PL) company specializing in supply chain management can partner with you to manage the risks of all or part of your supply chain.

As your partner, a 3PL shares your interests in mitigating the risks that threaten an optimal supply chain.

As a supply chain risk management specialist, a 3PL is and will remain better staffed and equipped to manage risks across the supply chain, including procurement, product preparation, and distribution.

To learn more about partnering for better supply chain risk management, contact us here at PiVAL today.