"Plans are useless, but planning is indispensable." In my experience, prioritizing vendors in contingency plans requires focusing on those most critical to your project’s success. For instance, when I faced vendor disruptions, I first identified which vendors impacted key deliverables or client-facing services and allocated resources to ensure their continuity. One helpful strategy is conducting a risk assessment, ranking vendors by their role in your supply chain, and the complexity of replacing them. A common mistake is treating all vendors equally—focus on those that directly affect core operations, and ensure your contingency plan addresses the highest risks first.

Understanding the reasons for disruption, jointly chalking out the counteractions and support to the vendor in coming back to the level while exploring possibilities of increasing SOB for alternative suppliers, In case if supplier is single source than also checking on alternative sources on war foot basis to keep supply chain active.

Following must be part of your procurement plan 1. Always have more than one vendor for same item . One can allocate ratios depending upon quality , delivery and prices between / amongst vendors 2 . Always have the list of the vendors ready who can provide " Hard to find " components even if you are not buying from them for the time being . 3 . If possible Always have access to Data based tools( Digikey / Z2data ) . Such tools provides information regarding alternate component, suppliers of alternate components and impact on supplies due to geopolitical scenerios ( though subscription to such tools is expensive )

Determine how essential each vendor is to your core operations. Consider the impact on revenue, customer satisfaction, and operations if each vendor were disrupted. Estimate the financial and reputational costs of delays or failures. Evaluate whether you rely on a single source for certain services or products. High dependency can increase risk. Monitor indicators that could signal issues with high-priority vendors, such as news of financial instability or environmental risks in their regions. Regularly review and update your contingency plan based on changes in vendor status and business needs. Regularly check in with vendors to anticipate potential disruptions and adjust plans proactively. Leverage technology for real time monitoring.