Mitigating supplier risk is imperative, but how can that goal be balanced with the challenges of supplier consolidation,  industry capacity limitations, internal constraints, and other uncertainty to assure supply? An upcoming DCAT webinar will provide a “buy-and-sell side” view on best practices and new insights on how to better assess and mitigate risk in sourcing and supplier selection and the initial make-versus-buy decision.

By Patricia Van Arnum, Editorial Director, DCAT, pvanarnum@dcat.org

Supplier risk management: an imperative
Employing effective strategies to evaluate and mitigate supplier risk is crucial for bio/pharmaceutical companies to assure supply and build and sustain supply-chain resiliency. Always critical, supplier risk management has become even more important in a post-pandemic environment that was marked by global supply-chain challenges and which continues with ongoing geopolitical uncertainty and a changing business landscape. How can the goal of mitigating supplier risk be balanced with the challenges of supplier consolidation,  industry capacity limitations, internal constraints, and other uncertainty to assure supply?  

A webinar, Supplier Risk Management: The Double-Edged Sword, from the Drug, Chemical & Associated Technologies Association (DCAT) will answer that question by providing expert views from leading industry executives on best practices and new insights on how to better assess and mitigate risk in sourcing and supplier selection and the initial make-versus-buy decision. The webinar, to be held on Tuesday September 17. 2024, from 10:00 to 11:00 AM ET, will address the following:

• Top drivers when assessing risk at a supplier;
• Management strategies for single-sourced materials;
• Balancing cost versus supply assurance in dual-sourcing options;
• De-risking raw materials supply; and
• How sustainability and other ESG (environmental, social, and governance) considerations factor in supplier risk assessment. 

To get both a “buy and sell side view,” panelists includeNick Anousis, Associate Vice President, Procurement, Merck & Co., Inc., and Matthew Chapas, Head of Supply Chain and Program Management, Small Molecules Division, Lonza. The webinar will be moderated by Tarita Qvenflander, Senior Director and Head of Strategic Sourcing and Direct Procurement, Swedish Orphan Biovitrum AB (Sobi) and a member of the DCAT Supply Management Committee (see below).

The webinar is complimentary and exclusive to DCAT Member Companies. Further information, including how to register, may be found here. On-demand viewing will be available through December 31, 2024, but registration is required for both the live webinar on September 17th and on-demand viewing.

The webinar is the first part of a two-part webinar series developed by the DCAT Supply Management Committee, a volunteer committee within DCAT composed of member company representatives involved in sourcing, procurement, and supply-chain management. Part II, Supplier Risk Management: Best Practices for Risk Mitigation during Steady-State Operations, will provide key insights for managing supplier risk on a continual basis once working with a supplier, and will be held in November. Further information to come.