In today’s globalized business environment, organizations rely heavily on their supply chains to provide goods and services to their customers. However, this reliance on suppliers also exposes organizations to various risks such as supply chain disruptions, compliance issues, reputational damage, and financial loss. To mitigate these risks, organizations need to implement an effective Supplier Risk Management Framework.

Our supply chain risk management framework provides organizations with a step-by-step process for managing supplier risks.

Key features of our Supply Chain Risk Management Framework includes:

• Development of risk assessment programs to identify potential supplier risks.
• Implementation of supplier corrective action requests (SCAR) to address identified risks and improve supplier performance.
• Staying up-to-date on risk trends and segmenting suppliers based on their risk level.
• Vendor Risk Assessment Framework to assess and manage the risks associated with vendors.
• Supplier Risk Mitigation Plan to provide a roadmap for mitigating identified risks and improving supplier performance.

By using our framework, organizations can build resilience in their supply chains and achieve cost savings through effective supplier performance management.

If you’re looking for a comprehensive approach to managing supplier risks, download our whitepaper today to learn more about how our supply chain risk management framework can help your organization build a resilient and sustainable supply chain.