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Supplier Risk Management -VII
Supplier Risk Management -VII
June 3, 2008
Value Stream Mapping is a powerful tool that too few supply management professionals know about.
VSM is a technique used to identify and flowchart the supply chain elements/steps from your supplier, through your own facilities, to your end use customer.
It can help identify activities that add value (or do not), as well as help identify risks in the supply chain.
Steps in VSM typically include:
- Describe / draw the current supply chain for the selected commodity (from supplier’s supply through to your customers)
- Show flow of materials, information, and funds
- Indicate timing of the flows
- Brainstorm what can go wrong at each step of the supply chain, as well as between steps (i.e. warehousing and transportation) - both for current business levels, and for forecast business levels 3-5 years into the future
One of our clients has used VSM in conjunction with the risk management workshop idea (described in the prior posting) – and saw immediate value.
Posted by Robert A. Rudzki on June 3, 2008 | Comments (0)
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