In a recent round of executive interviews we conducted, one theme that emerged is that there is a level of unprecedented uncertainty in the business environment(related to geo-politics, trade wars, immigration etc.) and it is causing decisions (like supply chain locations) to be re-examined and much slower decision making overall. Outsourcing decisions are being reviewed and go-to-market strategies are being reevaluated. Your stakeholders are frustrated and flummoxed and are looking for some intelligence and guidance. This represents a significant opportunity for you and your organization to grasp the issue of uncertainty and play a leadership role in your company thus enabling a more strategic role for yourself. One of the major sources of primary research available to you is your Supply Base. It is the most underutilized asset in the business world today – bar none!!! Here are some of the obvious reasons to your suppliers:
- They are probably having similar challenges
- You should know how they are dealing with these issues from a risk management perspective anyway
- It deepens relationships with your suppliers
- It adds credibility with your stakeholders because you have conducted primary research
- You will pick up suggestions from how they are dealing with these issues
