Saturday, November 22, 2008
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KNOWLEDGE MANAGEMENT TAGS
"Supply Chain Management", "Global Sourcing", "Risk Management"
Global sourcing still risky business, study finds
Supply chain visibility is still a major challenge for many companies as the risks posed by globalised supply chains continue to grow, a new study by Pricewaterhouse Coopers has warned.
The report found that big business was gaining a false sense of security from contracts that failed to take into account activity throughout its supply chain.
“In particular there is the issue of traceability,” said Anthony Lucas, a PricewaterhouseCoopers (PWC) partner for advisory services. “Initially, when companies set up sourcing arrangements and contracts (with a preferred supplier), they are reassured.
“But, increasingly, they also need to know what their suppliers are doing.”
The corporate world has been knocked by a number of high profile incidents in the past 12 months, with a spate of recalls, particularly in the toy industry, threatening to undermine the reputation of a global manufacturing and the “made in China” label.
“…even well-known organisations said their ability to keep a handle on risk across the supply chain is still quite underdeveloped,” Lucas said. “Many companies do not have a completely integrated framework for managing the total risk, People are in silos, only looking for example at contract negotiations or logistics issues.”
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