Are there any key learnings or best practices to start with when diving deeper into risk resiliency and supply continuity? We are currently looking to create risk profiles or scores for our suppliers to help us prioritize our work with our suppliers and also to support good sourcing decisions. What are the most important areas of risk to integrate first? Any key pitfalls that we should be mindful of? 

A 'risk maturity' audit or assessment is key to isolating inherent supplier risks. Key areas to focus on are financial solvency, sustainable sourcing, human trafficking, ESG compliance, contract compliance, and overall performance and reliability. One shift in the market is migrating from transactional supplier relationships to strategic alliances. Strengthening supplier/vendor relationships is vital to minimizing risk. An internal audit program is also valuable for assessing supplier risks to proactively address potential issues and stay risk-averse.

If anyone asks me about supplier risk, the first thing that most forget about is this: your relationship and relative power vs your supplier.
That drives most of the risks, as many issues can be mitigated jointly if the relationship is important enough for both parties.
So how important the relationship is for both sides? Is is balanced or not? What keeps both parties in the game (other than the contractual requirements)?