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Manage supplier relationships

High-risk suppliers need to be constantly appraised for appropriateness to supply to your organisation. The result needs to be visible, risks identified and auditable.

What would happen if the relationship faltered? How often do you refresh the relationship or appraise the suppliers performance? How do you measure that? What is the risk to you if the supplier “disappears” overnight? Is the risk material, or just politically embarrassing?

Of course all these will depend upon a number of factors including how easy it is to replace a supplier, whether assured supply is important, the criticality of the commodity to your business model, and other social implications.

Proactis Holdings Plc (LON:PHD) develops and sells business software, and provides installation and related support services in Europe and the United States. The company offers Spend Control and eProcurement solutions that help organizations to improve operational and financial performance by enhancing the way they buy various goods and services.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.