Create a comprehensive supplier risk scoring system to prioritize mitigation effortsObjective
Key Results
- Develop and validate risk scoring criteria across 8 distinct risk categories
- Complete risk scoring assessments for 100% of suppliers representing 95% of spend
- Reduce high-risk supplier exposure from 25% to 10% of critical spend
- Establish quarterly risk review process with 100% leadership participation
How to create a comprehensive supplier risk scoring system to prioritize mitigation efforts
Understanding which suppliers pose the greatest risk enables targeted mitigation investments. This objective establishes a data-driven scoring methodology that evaluates suppliers across financial stability, geographic risk, operational performance, and compliance factors.
The scoring system should be dynamic, updating as new information becomes available from audits, news monitoring, and performance data. Regular review cadences ensure procurement and supply chain teams can take action before latent risks materialize into active disruptions.
How to achieve this OKR
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