If having a mature compliance program that proactively identified supply chain risks was easy, everyone would have one.
But most complex manufacturers have a program with the maturity of a unicorn-themed sweet sixteen party. In fact, 76% of manufacturers rate their programs at the planning stages of supply chain sustainability maturity, according to a 2023 IndustryWeek survey.
That means the vast majority of supply chain professionals don’t have the infrastructure to identify, manage, and avoid risks compared to those with deeply sustainable mature programs.
Don’t worry if your supply chain sustainability program is still in its infancy. You’re in good company! However, it also means you’re constantly reacting to financial, operational, and reputational risks lurking in your supply chain.
Let’s commiserate for a minute about the quirks of working with a low-maturity program, and then look at how we can help you fix them.
Money to burn: financial risks
One of the biggest frustrations about working within a low-maturity program is seeing your company pay non-compliance fines or penalties on contracts rather than spend a dime on proactive risk management. Some companies still have the…
