No company can afford to ignore their responsibilities with regard to risk management, and supplier-related risk is a crucial area of focus.
Risk management is more than a full-time job. Making partial efforts by assessing some suppliers or some risk factors, or not keeping assessments up to date in real time, offers very little tangible value. Reliable compliance requires a scalable, digitally-enabled solution that is supported by corresponding services.
In this paper, we address the three primary supplier risk management considerations facing procurement organizations today and propose a solution that lightens procurement’s burden while strengthening key supplier relationships.
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