Typically the task of assessing supplier risk is dispersed throughout an organization: one team looks at CSR while another measures financial health or cybersecurity. There is no cohesive process, and assessments are often limited in scope and effectiveness with the highest-volume direct suppliers prioritized. This approach leaves companies blind to major risks in their supply chains: roughly 80% of supply chain issues originate at lower-tier suppliers. So, hidden weaknesses persist leading to costly disruptions.

A better method is to use one process and platform to assess your suppliers and plan for all risk types.