Automated Supplier Risk and Transition Management Workflow

This workflow provides a comprehensive system for monitoring supplier financial health, assessing risks, and managing supplier transitions proactively. It starts with weekly scheduling to load supplier data and filter suppliers needing regular risk checks based on criticality and last assessment. The system scrapes financial indicators from company websites and recent news articles using AI-powered scraping tools. It then analyzes the data to generate a detailed risk assessment, incorporating industry and economic factors for a refined risk score. If risk levels exceed thresholds, the workflow suggests and ranks alternative suppliers, assessing their suitability and transition complexity. Final steps include generating alert notifications, email reports, and updating procurement systems with risk evaluations and recommended actions. This automation ensures timely risk management, supports contingency planning, and enhances decision-making in supplier management, ideal for procurement and supply chain teams aiming for proactive risk mitigation.