Recently at the QADEX Supplier Approval Management Conference I had an interesting debate around how customer specifications and supplier accreditation have become inextricably linked since the introduction of vulnerability assessments…
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If there is any risk of not being able to meet customer specifications get out there now and start talking to customers to either modify the food specs or get a derogation.
A report I read recently from an insurance company indicated that the premium for contamination insurance could be as low as £10,250 for companies £100m turnover and £24,275 for companies with £250m turnover. Margins are tight across the food industry but this seems like reasonable cost insurance for the potential value if something does go wrong.
Supply chain risk management is receiving increased attention, the distraction of false alarms is not ideal.