News

Risk management: Securing supply chains

Ukraine war, Corona pandemic, semiconductor crisis – buyers around the world are currently facing a whole series of challenges. Things get tricky, for example, when suppliers become insolvent. Meraxis prevents such scenarios at an early stage: Not only our strong partner network secures supply chains, but also our customer-oriented risk management. With our early warning system, we identify potential problems before they arise and find suitable solutions.

10 August 2022

The stronger our partner network, the stronger we are as a distributor. Meraxis therefore works with reliable suppliers worldwide. They are all carefully selected. In addition, they are constantly monitored as part of our risk management. In doing so, we have high quality standards. After all, it's all about ensuring delivery capability for our customers in every situation. The key to this is our customer-oriented risk management - and this applies to all Meraxis divisions from Raw Materials to Performance Materials. Our automotive team is a particular pioneer in this regard.

Au­to­mo­tive industry role model for high standards

In all Meraxis divisions, we have set up quality and risk management processes in line with the high standards of the automotive industry. The "International Au­to­mo­tive Task Force" (IATF), a working group consisting of automobile manufacturers and automobile associations, has defined guidelines for this. We have implemented and further developed these throughout Meraxis. The IATF standard "16949" is based on the generally known ISO 9001, but sets higher re­quire­ments and places greater emphasis on customer satisfaction. We obtained both certifications without any detours at the first attempt. Thus we are optimally equipped to, among other things:

  • identify and avoid errors and risks, 
  • eliminate their causes,
  • take effective measures to prevent risks,
  • and to continuously improve processes.

Closely networked for fast decisions

One element of our risk management is supplier monitoring. As a matter of principle, all suppliers are classified on a scale according to their current creditworthiness. This risk identification is the first phase of our multi-stage security system: Not only do our category managers keep an eye on their suppliers and assess their status - we also work with Allianz Trade, which carries out regular credit ratings. As soon as the early warning system notices an increased risk with a supplier, a detailed review is carried out. The risk is analyzed in detail, including the probability of occurrence, the purchasing volume affected, and the financial and default risk.
 
Risk management is always time-critical. That is why our team works closely together and communicates transparently. Among other things, our category managers and finance experts coordinate along clearly defined escalation levels. Customers who purchase material from a potential risk supplier are of course also involved accordingly. They can rely on us to keep them informed, find optimal alternatives for them and coordinate them together. This may mean, for example, that we can provide material from one of our warehouses or engage another supplier from our network. Crucially, we have appropriate preventive measures, contingency plans and alternatives at the ready based on our safety system - so that every customer can rely on Meraxis quality.