Medical devices have become increasingly complex due to advances in technological innovation, which in turn, has required additional product suppliers to provide the necessary components. A lack of appropriate risk mitigation processes and procedures specific to sourcing and procurement activities can lead to a magnitude of challenges including regulatory enforcement action, cost variations, and unexpected inventory deficiencies. In order to combat this, sourcing and procurement teams must implement a holistic approach for evaluating potential risk.
- Structure of a supply resiliency program
- Implementing a risk measurement system
- Practical application of risk mitigation strategies
- Pros and cons of single versus multiple suppliers
Strategic Sourcing Manager