One of the biggest misconceptions in procurement is that resilience costs more.

In reality, resilience comes from visibility and the businesses best positioned to weather disruption typically know:

Who their critical suppliers are
Where they have supply risk
Which contracts are due for renewal
What they’re actually paying
Whether current pricing remains competitive

Many manufacturers have limited visibility over areas such as external lab spend, mobile communications, laboratory testing and other operational services.

But once you have gathered the data and benchmarked, opportunities emerge not only to reduce costs but also to improve service and reduce risk.

Resilience isn’t built during a crisis. It’s built before one.