Supplier risk refers to the potential for disruptions or losses associated with a company's suppliers, which can arise from various factors such as financial instability, geopolitical issues, quality problems, or operational failures. It is a critical consideration in global sourcing and procurement, as companies rely heavily on external suppliers for goods and services, making them vulnerable to risks that could impact their operations and overall success.
congrats on reading the definition of Supplier Risk. now let's actually learn it.