Supplier Risk

As businesses struggle to identify and control their IT, operational and financial risks in an ever increasingly competitive environment, the external risks that third parties can pose has often been ignored. However, with increased press attention of the damage to brands and bottom lines that have resulted from issues throughout the supply chain, many businesses are realising that they can’t ignore external threats any longer.

To reduce these external threats, companies need to assess the relationships they have with their existing and new vendors based on more than price. They must ensure that they have full visibility and understanding of potential risks by undertaking due diligence upon selection including risk scorecards and actively seek alternative sources if they fail to meet these criteria.

So, how can Sword Achiever help?

With Sword Achiever, you can ensure that supplier risks are handled within a single solution, increasing visibility and control and minimising the likelihood of negative events occurring. Through scorecards you can rate suppliers and assign controls, while audits can be carried out which automatically assign non-conformances and even remove authorised status for those in breach of predefined limitations. As suppliers become an integral part of your risk environment, executive dashboards and reports effectively highlight any areas of concern before they have a negative impact on the business.

Benefits include:

Improve due diligence of potential or existing suppliers through scorecards and risk identification
Reduction of risks through the implementation of mitigating controls and continued monitoring
Improved visibility of risk environment with a single holistic view, including tracking of incidents and costs
Standardisation of supplier management processes throughout the supply chain
Reduction of time and costs in identification, mitigation and control of risk management

For more information on how Sword Achiever may be able to help you gain a competitive advantage and ensure sustainable growth by protecting your company from unexpected supplier risks throughout the supply chain, please contact us.