In today’s volatile global economy, supplier concentration is no longer just a procurement issue. It is a business continuity risk. From tariffs and geopolitical instability to labor shortages, natural disasters, cybersecurity threats, and supply chain disruptions, organizations that rely too heavily on a small number of suppliers are exposing themselves to vulnerabilities that many dashboards fail to capture.

Join Lisa Westgate, CEO of LN Westgate, LLC, procurement strategist, adjunct professor at Northeastern University, and nationally recognized supplier diversification and sourcing expert, for a bold and thought-provoking webinar exploring the hidden dangers of supplier concentration and the business case for diversification, resilience, and smarter sourcing strategies.

This session will challenge traditional procurement thinking and unpack how overreliance on incumbent suppliers can quietly increase operational risk, reduce innovation, weaken competitive leverage, and limit access to emerging markets and supplier innovation. Attendees will gain practical insights into how supplier diversification strengthens resiliency, improves long-term ROI, and supports stronger community and economic outcomes.

Topics will include:

•        Identifying and measuring supplier concentration risk

•        Understanding single-source and over-bundled category vulnerabilities

•        The connection between resilience, ROI, and supplier diversification

•        Tier 2 visibility and hidden supply chain exposure

•        Why small and diverse suppliers are critical to innovation and continuity

•        Executive-level strategies for reframing supplier diversification as risk mitigation

•        Actionable steps procurement leaders can take immediately

This webinar is designed for procurement professionals, supply chain leaders, supplier diversity practitioners, CFOs, ESG leaders, and executive stakeholders seeking to future-proof their sourcing strategy in an increasingly uncertain market.

Because procurement is no longer just about cost savings. It is about resilience, adaptability, and the power to shape sustainable business ecosystems.

ISM-New Jersey: The Risks of Supplier Concentration