What are some effective supplier diversification strategies?
Supplier diversification strategies involve sourcing from multiple suppliers to reduce risk and enhance supply chain resilience.
Can you give me some examples of these strategies?
Sure! Examples include dual sourcing, developing local suppliers, and using a mix of large and small suppliers.
What are the benefits of diversifying suppliers?
Benefits include reduced risk of supply disruptions, improved negotiation leverage, and access to innovative products.
How do I start implementing these strategies?
Start by assessing your current supplier base, identifying potential new suppliers, and gradually integrating them into your supply chain.
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