Supplier management can be fraught with challenges such as:
Supply Chain Disruptions: Natural disasters, political instability, or pandemics can disrupt the supply chain. Quality Issues: Suppliers may sometimes fail to meet quality standards, impacting your products or services. Communication Barriers: Differences in language, culture, or time zones can hinder effective communication. Cost Fluctuations: Changes in market conditions can lead to cost volatility, affecting budgets. Compliance Risks: Suppliers not adhering to regulations can pose legal and ethical risks.