Consider this your most critical supply chain.
Don’t get tangled up in complicated vendor risk management.
Your business is set to a well-timed choreography of supplies and services. One missed beat — a vendor that suddenly ceases shipments, a compliance snag or even negative news about a business partner — can seriously impact your company’s productivity, financials and reputation.Without proper vetting, how do you know your suppliers are financially stable and able to deliver? How can you be sure their business practices don’t run afoul of a multitude of jurisdictional and industry regulations? The number of enforcement actions from violations of the Foreign Corrupt Practices Act tripled last year.[1] What if one of your trusted suppliers was on that list?
Free tools, manual processes and one-time vetting don’t cut it. Managing supplier risk is just too complicated.
Create order through more confident vendor risk management.
[1] US Securities and Exchange Commission: SEC Enforcement Actions, FCPA Cases
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