Supplier Risk Management
Timely and accurate information to monitor and mitigate third-party supplier risk.
Financial Supplier Risk Management Utilizing a Supplier Health Scorecard
Ivalua empowers you with the right insights and an integrated, actionable view of 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
Identify and Monitor Supplier Risk
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 risk data
Benefits
- Reduced time necessary for gathering / analyzing supplier data
- Contextualize risk with true 360° visibility of ALL suppliers
- Comprehensive view of various risk factors (Financial, legal, geographical, CSR, etc.)
- Act fast with timely and accurate risk alerts
Monitor Risk
Reduce the impact of risk factors on your business
- Monitor supply chain risk 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 risk exposure
- Visibility into risk mitigation progress
- Faster response to risk factors
- Improve supplier collaboration
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.
In this report, The Hackett Group provides expert insights into the supply chain risk management programs being adopted by world-class organizations in the coming years. View the report now to learn more about:
- The principal drivers of supply chain risk management programs
- A roadmap for implementing these programs
- Key metrics on the value and performance of these programs
- Understanding the probability and impact of risks
- Expert recommendations for a successful supply chain risk management program
Resources
Ivalua Recognized as a Leader In The Forrester Wave™: Supplier Risk & Performance Management Platforms, Q3 2020
Improving Spend Controls and Compliance at Credit Suisse
- Improved control to meet regulatory requirements
- Increased efficiency and transparency
- Manage 20,000 vendor contracts
- Conduct 17,000 vendor reviews / year
