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Supplier Risk Assessment

oboloo Glossary

Supplier Risk Assessment

Supplier Risk Assessment Definition

A supplier risk assessment is an evaluation of the potential risks associated with using a particular supplier. The purpose of a supplier risk assessment is to identify and mitigate risks before they result in problems or disruptions.

There are many factors to consider when conducting a supplier risk assessment. Some of the most important considerations include:

-The financial stability of the supplier

-The quality of the products or services supplied

-The supplier’s ability to meet delivery deadlines

-The supplier’s history of customer satisfaction

-The geographic location of the supplier (in case of natural disasters, etc.)

-The political stability of the country in which the supplier is located

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