It has always been important for Purchasing and Supply Management Professionals (P&SM) to be aware of the financial health and trading position of suppliers.With many organisations facing increasingly challenging and uncertain conditions, it is arguably more important than ever that we are close to our suppliers.

If a critical supplier – that is one whose products or services are essential to the continuing operation of our own organisation - goes out of business with no apparent warning (or at least no warning that we have made ourselves aware of!) what are we going to do?