Total Supplier Risk Monitoring Knowledge Management as a Basis of a Preventive Supplier Evaluation

Cite this:
Wilde, A. (2018). Total Supplier Risk Monitoring Knowledge Management as a Basis of a Preventive Supplier Evaluation. Journal of Business Management and Economics, 6(03), 33–36. https://doi.org/10.15520/jbme.v6i03.2078
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Abstract

Industrial companies obtain much of their value and technology innovations from external suppliers. Due to the rising dependency of companies on their suppliers it is necessary to monitor the suppliers performance constantly. The current object of research is to create new business processes with a holistic IT-concept to get all significant information about the entire supplier base. The aim is to be flexible and fast in decision-making in case of non-performance or even to take preventive measures to avoid irregularity in production. But how to evaluate thousands of suppliers at once? How does Data Mining support the knowledge management in the supply chain management? The Stepped Evaluation Model of The Total Supplier Risk Monitoring and the Smart Data Advanced Analytic Process approach a corporate knowledge management which forms a basis of a preventive supplier evaluation.

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