Are you ensuring smooth operations by effectively controlling supplier risk?
Often, sourcing activities are complex. A supply chain typically requires thousands of partners and services managed across several organizations. With multiple suppliers associated, it is exceedingly challenging to identify risks and mitigate them.
To achieve better efficiency, service, and cost savings your supplier risk management should keep up, or you could face unexpected risks and fail to seize potential benefits.
Gainfront’s Supplier Risk Management solution is your partner in securing your supply chain and ensuring the uninterrupted flow of operations. Don’t wait for risks to escalate.
Some points to consider:
- Is your supply chain transparent to you?
- Do you monitor supplier performance and risks regularly?
- How do you ensure supply chain compliance with regulations?
- Are you confident in your ability to respond to supply chain disruptions without significant losses?
- Do you trust your suppliers’ integrity?
- Are significant risks in your supply chain well-managed?
Enhance Operational Efficiency, Reduce Cost, Develop a Supply Chain Resilience Strategy and Avoid Disruptions
Our goal is to promote cost-efficient sourcing while establishing transparent and well-defined responsibilities for the entire sourcing and service delivery process. We ensure effective management, ongoing monitoring, and a shared understanding of these responsibilities between your organization and your supplier.
Here’s how Gainfront can help you take control of supplier risk:
In-Depth Supplier Spend and Survey
Gainfront offers in-depth supplier surveys covering critical areas such as information security (infosec), cybersecurity, ethical compliance, conflict minerals, and child and forced labor. These surveys provide comprehensive insights into your suppliers’ adherence to key standards and ethical practices.
Third-Party Risk Data
Access over 1,500 data points from third-party risk data specialists to obtain a complete risk assessment of each of your suppliers. Our integration with these specialists ensures you have access to the most up-to-date and reliable risk information available.
Comprehensive Risk Measures
Gainfront’s risk measures cover a wide range of factors, including watchlists such as OFAC (Office of Foreign Assets Control) and BIS Entry (Bureau of Industry and Security Entry). We also assess compliance, financial risk, adverse media, controversies, and more.
Scoring Against Targets
We score all input data from both suppliers and third-party sources against predefined targets. This scoring system helps you assess each supplier’s risk profile and quickly identify any deviations from your risk tolerance thresholds.
Early Warning System
Gainfront’s SRM solution acts as your early warning system. By continuously monitoring supplier risk, it provides timely alerts if any supplier’s risk ratings start to deviate from targets. This proactive approach allows you to address emerging issues before they impact your operations.