Operations – Supply Chain Optimization

Global Engine Manufacturer | Supply Chain Optimization

Liberty created a standard and repeatable method to identify, track, and remediate distressed suppliers. Through this process, early signs of distress were identified to begin mitigation preemptively. 

Impact At A Glance

Strategic framework for assessments developed

3,000 Suppliers in Network

Standardized playbook deployed to client’s core business processes

Project Overview

Liberty was engaged to partner with the Procurement team to mature its supplier risk management capabilities and develop a repeatable process to assess and mitigate risk with critical and/or distressed suppliers.

The Business Problem

With a network of over 3,000 suppliers, the engine manufacturer needed to establish a more standardized approach to assess, quantify, address, and track remediation & risk mitigation plans for distressed suppliers. The organization needed better “early warning sign” indicators and a playbook to be able to mitigate risks.

The Outcome

Liberty leveraged its supplier risk methodology to quickly assess the current supplier risk management operating structure, identify areas of opportunity, and implement a go-forward operating model.

  • Liberty implemented a set of new processes to identify risks, evaluate exposure, standardized diligence, & efficiently determine appropriate remediation actions
  • Implemented balanced risk scorecard including external information (e.g. Dun & Bradstreet and Rapid Rating) and internal product/supplier data to assess the specific financial and operational risk
  • Developed a standardized supplier risk assessment report focusing on financial, operational legal, organizational, technical, and external factors
  • Documented “risk & remediation” tactics to address specific scenarios
  • Established a Risk Management Office (RMO) to manage the day-to-day ongoing identification, evaluation, management, mitigation, & monitoring activities
  • Supported client with select distressed supplier evaluations and remediation execution

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