Supplier Risk Management
Timely and accurate information to monitor and mitigate third-party supplier risk
Gartner Report: Manage Supplier Risk by Improving Supplier Visibility With Technology
Ivalua empowers you with the right insights and an integrated, actionable view of supply chain risk
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360 view of supplier information and activity
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Internal supplier risk assessments and action plans
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Aggregated External risk data from 3rd parties
Supplier Risk Management: Identify & Monitor
Effectively assess and track ongoing supplier and contract risk with qualitative and quantitative risk metrics
- Unified supplier record with 360° of supplier risk and activity
- Multi-dimensional, interactive risk analytics
- Supplier and sub-tier supplier risk scorecards
- Configurable scorecards and KPIs
- Robust, flexible forms and scorecards to capture diverse stakeholder feedback
- Campaign Management
- Seamless integration with 3rd parties to update supplier risk data
- Automatic updates of supply chain risk data
Benefits
- Reduced time necessary for gathering / analyzing supplier data
- Contextualize supply chain risk with true 360° visibility of ALL suppliers
- Comprehensive view of various supply chain risk factors (Financial, legal, geographical, CSR, etc.)
- Act fast with timely and accurate risk alerts
Monitor Supplier Risk
Reduce the impact of risk factors on your business
- Supply Chain Risk management and monitoring and dependencies throughout the entire supply chain
- Flexible business rules / metrics to ensure teams are contracting and awarding business to low risk suppliers
- Tracking and reporting on issues, disputes, and improvement activities
- Flexible validation workflows to verify follow-up actions and documentation
- Team notifications and real-time alerts
Benefits
- Reduce supply chain risk exposure
- Visibility into risk mitigation progress
- Faster response to risk factors
- Improve supplier collaboration
Supplier Risk Management Best Practice
Supplier Risk is quickly moving up on the agenda of all levels of corporate leadership due to its impact on the bottom line, market valuation, and shareholder value. As the modern supply chain grows more complex, the risks increase in frequency and impact, and the reactive risk management model is no longer sustainable to address these risks.
Ivalua has designed this supplier risk management checklist to help your organization in determining the attributes of an effective supplier risk and performance management program as well as provide guidance for the technology to enable it. View the checklist now to learn how to:
- Drive supplier collaboration and innovation
- Employ more structured processes around supplier risk
- Drive competition and achieve savings
- Improve supplier visibility across all levels of the supply chain
- Ensure compliance with business and regulatory requirements
Resources
Ivalua Recognized as a Leader In The Forrester Wave™: Supplier Risk & Performance Management Platforms, Q3 2020
