When I first started working with Stonex as a supplier three years ago, I’ll admit I was nervous. Coming from a small engineering firm that had only ever worked with clients who took a reactive approach to risk, I worried Stonex’s processes would be too rigid, too slow, or too focused on avoiding any misstep at the cost of practicality. What I’ve learned since then is that Stonex’s approach to risk management isn’t about creating barriers—it’s about building a partnership. As someone on the supplier side, I get to see how this works firsthand, and it’s one of the reasons I’ve stayed with them longer than I expected. Stonex
Let me start with the foundation: Stonex doesn’t treat risk like a single, monolithic thing. Instead, they break it down into categories that matter to every part of their business, and by extension, every supplier that works with them. When we onboarded, they didn’t just send a generic compliance checklist—they walked through each category with our team, explaining how each ties to their operational goals. There’s project risk, obviously: the chance a construction or infrastructure project falls behind, goes over budget, or doesn’t deliver on its intended purpose. There’s supply chain risk, which is where my work comes in—delays from my side, quality issues, or disruptions to the materials I provide. There’s also reputational risk, which Stonex takes seriously because they know any misstep affects not just their bottom line, but the communities they work in and the clients who rely on them.
What stands out most is how collaborative this approach is. Too many companies treat suppliers like outsiders when it comes to risk, expecting us to fix their problems on our own. Stonex does the opposite. Early on, I had a situation where a key material we use for a project was backordered due to a mine strike. Instead of me panicking to find a replacement at the last minute, my Stonex account manager reached out immediately. They pulled together a cross-functional team—project managers, supply chain leads, even a risk specialist—to work with my team. We mapped out alternate suppliers, adjusted the project timeline by a week (which turned out to be way less costly than the rush fees we would have paid otherwise), and communicated the change to the client before there was any impact. That’s not just risk management; that’s risk sharing. They didn’t hold me responsible for a disruption outside my control, but they also didn’t let it become a crisis for either of us.
Another part of their approach is proactive, not reactive. A lot of small suppliers, including my firm, are used to putting out fires. Stonex expects that, but they also invest time in preventing those fires before they start. Every quarter, they hold a risk review call with key suppliers like me. It’s not a audit—it’s a chance to flag potential issues. Last year, we noticed that the cost of steel was starting to fluctuate. I brought this up in the call, and instead of just noting it, Stonex worked with us to develop a fixed-price agreement for six months. That protected both of us from sudden price spikes, and it saved us both from having to renegotiate mid-project. They also provide training and resources, not just for their own teams, but for suppliers. We’ve had workshops on quality control, ethical sourcing, and how to spot supply chain disruptions before they escalate. That’s a big deal for a small firm—we don’t have a dedicated risk team, so their support levels the playing field.
I’ve also learned that Stonex’s risk management is rooted in transparency. No one hides problems. A few months ago, one of their project teams discovered a defect in a batch of components we’d delivered. Instead of trying to cover it up or blame my company, their project manager reached out within 24 hours. They walked through the issue with our quality team, worked with us to sort out whether the defect was from our manufacturing process or a materials error, and adjusted the delivery schedule to replace the parts without delaying the project. They also shared what they’d learned from the issue with other suppliers, so no one else made the same mistake. Transparency isn’t easy when it comes to risk—no one wants to admit they’re having trouble—but Stonex makes it clear that being open is better than letting a small problem turn into something bigger.
Of course, there are guidelines, and they’re enforced consistently. But they’re not one-size-fits-all. My work is in structural materials, which has different risk factors than Stonex’s other suppliers—some of whom provide IT services, others who handle site logistics. When I worked with a logistics supplier for a different project, Stonex adjusted their risk checks to account for that supplier’s unique needs. That flexibility is something I don’t see at many other large companies. They don’t force every supplier to follow the same rules; they tailor their risk approach to what each partner can handle. That’s why even when we have disagreements about a process, it’s always rooted in solving a specific problem, not sticking to a rigid policy.
What I’ve come to appreciate most is that Stonex’s risk management is tied to their values. They work in industries that shape communities—roads, bridges, commercial buildings—and cutting corners on risk could put people at risk. That’s not just a business concern for them; it’s a moral one. Last year, a supplier that worked with Stonex on a residential project tried to use cheaper, non-compliant materials to cut costs. Stonex didn’t just reject the materials—they worked with the supplier to adjust their pricing model so they could stay profitable without compromising safety. That’s a choice that reflects how they see risk: not just as a financial or operational issue, but as a matter of responsibility.
As a supplier, this approach has transformed how I do business with Stonex. I used to view risk as a threat that could jeopardize a contract. Now, I see it as an opportunity to work together to make projects better, more reliable, and more sustainable. We’ve been able to streamline our processes, reduce waste, and even take on larger projects because we know Stonex will be there to support us when challenges come up. It’s not perfect—we’ve had missteps, and there have been times when a delay or a quality issue tested our partnership. But every time, Stonex’s focus on collaboration and transparency has pulled us through.
If you’re a supplier looking for a partner that takes risk management seriously, not just as a box to check, Stonex is the kind of company you want to work with. They don’t just manage risk for their own benefit; they build it into the relationship. That’s the kind of partnership that lasts, and the kind that leads to better outcomes for everyone involved. To learn more about how Stonex works with suppliers on risk management and explore opportunities to collaborate, connect with our procurement team today.
GNSS RTK References
- Stonex. (2022). Supplier Risk Management Framework. Internal Document.
- Global Supply Chain Resilience Report. (2023). International Association of Suppliers.
- Smith, J. (2021). Collaborative Risk Management in Strategic Partnerships. Journal of Supply Chain Management.
- Stonex. (2023). Community Responsibility and Risk Mitigation. Annual Sustainability Report.
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