Supplier Risk Mitigation and Resilience Framework Incorporating Data Analytics, Multi-Sourcing, and Proactive Vendor Development Strategies
Abstract
In increasingly globalized and interconnected supply chains, supplier disruptions pose significant risks to operational continuity, cost efficiency, and market competitiveness. This study presents a comprehensive framework for mitigating supplier-related risks and enhancing supply chain resilience by integrating advanced data analytics, multi-sourcing strategies, and proactive vendor development initiatives. The proposed model emphasizes predictive risk assessment using real-time supplier performance metrics, the diversification of sourcing options to reduce dependency, and targeted capability-building programs to strengthen strategic vendor partnerships. By employing a hybrid methodology that combines quantitative data-driven analysis with qualitative assessments of supplier competencies, the framework offers actionable insights for decision-makers in manufacturing and retail sectors. Case simulations demonstrate that organizations adopting this integrated approach experience improved supplier reliability, reduced exposure to operational disruptions, and enhanced long-term value creation. The findings provide a structured pathway for firms to develop resilient, agile, and adaptive supply networks that balance risk mitigation with strategic supplier collaboration.
How to Cite This Article
Geraldine Chika Nwokocha, Olakunle Babatunde Alao, Opeyemi Morenike Filani (2020). Supplier Risk Mitigation and Resilience Framework Incorporating Data Analytics, Multi-Sourcing, and Proactive Vendor Development Strategies . International Journal of Multidisciplinary Research and Growth Evaluation (IJMRGE), 1(3), 153-162. DOI: https://doi.org/10.54660/.IJMRGE.2020.1.3.153-162