Supply chain video: Managing supplier risk in the downturn (Part 6)

Filed in archive Supply chain video on July 31, 2009

In this 6th part of the video speech by Rob Handfield at PMMS 2009, he continues with the importance of contracts. Different states normally have different laws in respect to issues such as bankruptcy. Companies should consider these elements and also give some flexibility to the contract so that they can reduce costs whenever it is necessary.




Comparing/monitoring the contracts with respect to the real performance on a monthly or bi-weekly basis is also another best practice mentioned by Dr. Hanfield. His main message again is "the key to sucess: Look around and see what is going on".