{"id":8331,"date":"2023-05-11T10:03:43","date_gmt":"2023-05-11T08:03:43","guid":{"rendered":"https:\/\/www.kloepfel-magazin.com\/?p=8331"},"modified":"2023-05-11T10:53:34","modified_gmt":"2023-05-11T08:53:34","slug":"checklist-6-steps-avert-supply-risks","status":"publish","type":"post","link":"https:\/\/kloepfel-magazin.com\/en\/whitepaper\/checklist-6-steps-avert-supply-risks-8331\/","title":{"rendered":"Checklist: 6 steps to avert supply risks"},"content":{"rendered":"\n<p><em>Author: Dr. Stephan Hofstetter, Partner at Kloepfel Consulting.<\/em><\/p>\n\n\n\n<p>In this overview, we summarize the six fundamental steps from risk analysis to countermeasures for mitigating supply risks and a contingency plan in the worst-case scenario.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 1: Identify and assess potential risks<\/h3>\n\n\n\n<p>The risk analysis should be conducted based on product categories, suppliers, and countries in order to derive structured measures for risk management. Evaluate relevant risks in terms of their likelihood of occurrence (low, medium, high) and the potential impacts (low, moderate, severe) on your organization. Focus risk management measures on the most probable risks with high damage potential.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 2: Address critical risks<\/h3>\n\n\n\n<p>After identifying the critical risks in the risk matrix, you should develop measures to address these risks in order to avoid, reduce, or mitigate them. Consider the measures recommended in the article &#8220;<em>Geopolitical Risks &#8211; Challenges for Supply Chains &amp; Possible Solutions<\/em>&#8221; for this purpose.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 3: Implementation of the action plan<\/h3>\n\n\n\n<p>Implement the measures listed in the action plan, prioritizing them according to product category or suppliers. The necessary resources, budgets and responsibilities should be clearly assigned. Clear and achievable milestones should be set. Inform your customers regularly as well as transparently about their contingency plans and risk management strategies. The qualification of a second supplier would be a typical measure.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 4: Keep an eye on leading indicators<\/h3>\n\n\n\n<p>Monitor indicators on key procurement topics regularly to ensure that critical developments are identified in good time and averted appropriately. Visit your suppliers regularly to track their business situation and identify undesirable developments. For example, you would identify a utilization or succession problem.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 5: Create a contingency plan<\/h3>\n\n\n\n<p>Work with your suppliers to develop realistic contingency plans to ensure that alternative approaches take effect in critical situations and ensure supplies are available at a reasonable cost. These contingency plans must not gather dust. They must be reviewed and updated periodically.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Step 6: Test your contingency plan<\/h3>\n\n\n\n<p>Test and evaluate your contingency plan periodically with stakeholders, your suppliers and customers to ensure it is working. When in doubt, update it. Specifically, such as who would participate on the task force and how would they work together.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<p>Part 1: <a href=\"https:\/\/kloepfel-magazin.com\/en\/whitepaper\/geopolitical-risks-8337\/\" target=\"_blank\" rel=\"noreferrer noopener\">Geopolitical risks &#8211; challenges for supply chains<\/a><br>Part 2: <a href=\"https:\/\/kloepfel-magazin.com\/en\/whitepaper\/measures-address-supply-chain-risks-8334\/\" target=\"_blank\" rel=\"noreferrer noopener\">Measures to address supply risks<\/a><br><strong>Part 3: Checklist: 6 steps to avert supply risks<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide\"\/>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center\">Risk management in procurement<\/h3>\n\n\n\n<p class=\"has-text-align-center\">On this topic, Kloepfel Consulting offers you risk analyses, the development of concrete methods and measures to deal with risks, as well as training courses and workshops.<\/p>\n\n\n\n<div style=\"height:11px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/kloepfel-magazin.com\/wp-content\/uploads\/2023\/05\/Stephan-Hofstetter.jpg\" alt=\"\" class=\"wp-image-8260\" width=\"174\" height=\"262\" srcset=\"https:\/\/kloepfel-magazin.com\/wp-content\/uploads\/2023\/05\/Stephan-Hofstetter.jpg 178w, https:\/\/kloepfel-magazin.com\/wp-content\/uploads\/2023\/05\/Stephan-Hofstetter-150x226.jpg 150w\" sizes=\"(max-width: 174px) 100vw, 174px\" \/><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading has-text-align-left\"><strong>Arrange a non-binding consultation<\/strong><\/h3>\n\n\n\n<p class=\"has-text-align-left\">Contact Dr. Stephan Hofstetter, Partner at Kloepfel Consulting, for a first phone call or web meeting by e-mail s.hofstetter@kloepfel-consulting.com or by phone +49 211 941 984 33<\/p>\n\n\n\n<div style=\"height:0px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Author: Dr. Stephan Hofstetter, Partner at Kloepfel Consulting. In this overview, we summarize the six fundamental steps from risk analysis to countermeasures for mitigating supply risks and a contingency plan in the worst-case scenario. Step 1: Identify and assess potential risks The risk analysis should be conducted based on product categories, suppliers, and countries in<\/p>\n","protected":false},"author":2,"featured_media":8332,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":{"0":"post-8331","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-whitepaper"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Checklist: 6 steps to avert supply risks<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kloepfel-magazin.com\/en\/whitepaper\/checklist-6-steps-avert-supply-risks-8331\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Checklist: 6 steps to avert supply risks\" \/>\n<meta property=\"og:description\" content=\"Author: Dr. Stephan Hofstetter, Partner at Kloepfel Consulting. 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