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.
If you need a more cohesive and efficient way to assess your suppliers for risk, we’ve compiled the Top 5 Reasons to Partner with Resilinc on a Supplier Risk Assessment Program.
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