As supply chains become increasingly complex, supply chain risks increase in number and severity. Identifying and managing risk therefore, becomes more difficult. The realities of today’s global market mean organizations in the aerospace, defense and aviation industries face many different kinds of risks — from material disruptions, supplier bankruptcy to cybersecurity breaches and natural disasters.
To retain customer confidence and remain in compliance with industry-specific standards such as AS9100, organizations need to anticipate and mitigate risks throughout their supply chain. At NTS Unitek, we offer supply chain risk management services to help OEMs in technical industries prevent disruption and improve supply chain reliability.
What Is Supply Chain Risk Management?
Supply chain risk management is a practice that organizations can use to understand their supply chain risks, limit the chances of those risks materializing and minimize their impact if they do. An effective supply chain risk management plan identifies risks, analyzes them and monitors them over time. As a result, organizations that practice supply chain risk management have the ability to respond to both known and unknown hazards with speed and flexibility.
Our Supply Chain Risk Management Services
Although risk management is essential for any organization, managing supply chain risk in highly technical industries can require time and resources you don’t have to spare, especially as more components are manufactured in multiple locations around the world. At NTS Unitek, we have over 45 years of experience helping clients minimize global supply chain risk to increase product quality and lower costs.
Acting as an extension of your organization, we can develop and implement a supply chain risk management plan on your behalf. To provide the most accurate information about your suppliers’ activities, we conduct thorough on-site supplier risk assessments as needed, both pre- and post-award.
When we partner with your organization, you can rely on us to help:
- Assign risk management responsibilities to appropriate teams or departments.
- Develop criteria used to determine which risks to mitigate and which to accept.
- Identify risks, analyze their severity and inform key stakeholders of their possibility.
- Recommend and implement strategies for minimizing your supply chain’s most dangerous risks.
If you already have a risk mitigation program in place, NTS Unitek can also help you improve it.
The Benefits of Managing Supply Chain Risk
Without supply chain risk management plans, organizations struggle to respond to emergencies and other disruptive events effectively, leading to manufacturing delays and often serious defects. Conversely, when you partner with NTS Unitek and commit to mitigating supply chain risk, you can benefit from:
- Reduced costs: When you understand the risks in your supply chain, you can make strategic adjustments to eliminate them. Fewer risks mean reduced financial liability for your organization.
- Schedule: Supply chain risk assessment can identify potentially catastrophic issues before they occur, saving time and resources down the line.
- Performance: A robust risk management plan can help you comply with the product requirement and increase customer confidence in your products.
Keep Your Supply Chain Under Control With NTS Unitek
At NTS Unitek, we have engineers, quality specialists and project coordinators prepared to help you manage the risks associated with your complex supply chain. To learn more about the risk management services we offer, please contact us today.