Step 4 ) Create a Plan of Action

Define a set of actions to reflect the risk and prioritise opportunities already established

Questions to consider

  • What measures are feasible to address the priority risks and opportunities?
  • Who is responsible for delivering the different parts of the plan?
  • What tools are available to help you?
  • How can you get support from senior management to address these actions and incorporate into company strategy?
  • How best can you involve your suppliers?

Getting started

  • Consider devising measurable performance indicators along with improvement targets for suppliers and a Code of Practice for new suppliers where appropriate
  • Set up internal communications to explain why you are doing this and what is expected of colleagues
  • Set up meetings with suppliers about the risks and opportunities you have prioritised, and explain what you would like to achieve
  • Devise incentives for bringing your suppliers on board, e.g. increased business, contributing to costs of improvement
  • Identify how best to gain interest from senior management and seek formal sign-off of the company's strategy. Consider using external expertise, particularly to address risks where you have no immediate solution

Key outcome: Action plan based on key risks and opportunities

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Last reviewed: 28 Jan 2014