Steve Flagg is the CEO and founder of Supplyframe. Read Steve Flagg's full executive profile here.
People have made significant progress in how they think about the supply chain. There's now deep recognition that to increase resilience, companies must become more holistic in their approach to supply chain risk—considering a wider range of factors including geopolitical, part life cycle, demand, lead time and financial health.
Risk monitoring takes place in silos, and it's not necessarily operationalized in terms of decision-making from design through to new product introduction and then ramp to volume.are critical to successful supplier risk management—can bring people and decision-making together.
As a result, these companies may be mature from a quality testing perspective, but they're not looking at other risk factors in a comprehensive and consistent way. These companies need to start putting the same focus on risk management as they have put on quality management.
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