Is your company investing in supply chain risk management? If so, is this being done internally or through a third party to implement and manage supplier risk?
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Program Manager II in Healthcare and Biotech4 months ago
Yes, it is quite important to invest in Supply Chain Risk management tools from external vendors. Internal teams gather data from external tools and then decide on the strategy. External tools are quite helpful as they take input from multiple markets, agencies etc. Director of Supply Chain in IT Servicesa month ago
EY does TPRM internally with the front line managed by SRM and backend managed by Risk Management. VP of Supply Chain in Transportationa month ago
Companies I work with are taking a more proactive approach to supply chain and enterprise risk management. Larger companies with infrastructure capabilities keep these programs in-house with third-party consulting to help develop solutions. Smaller companies, on the other hand, are leveraging external expertise, systems, automation, and tools to provide the required level of service. The backbone to effective risk management is access to digital mechanisms, apps, and systems to drive overall risk management, risk mitigation, risk planning, contingency and crisis management response, and application of scenario planning to design and architect viable proactive solutions. To this end, companies do employ a third-party vendor for risk assessments and audits.