Before revision: Cultivating strategic supplier relationships for the long-term: Leverage supplier scorecards for continuous improvement Establish and use benchmarks for measuring supplier performance Creating a system for collaboration and supplier development Establish control across the extended enterprise: Create integrated supplier networks Extend performance management benchmarks to second and third tier suppliers Supplier risk 1.
After revision: management process Supplier risk management can be implemented and initiated by following 6 steps:Cultivating strategic supplier relationships for the long-term: Leverage supplier scorecards for continuous improvement Establish and use benchmarks for measuring supplier performance Creating a system for collaboration and supplier development Establish control across the extended enterprise: Create integrated supplier networks Extend performance management benchmarks to second and third tier suppliers Supplier risk 1.