Know Risk: Going beyond effective risk management

Rethinking supply chains: What could change?

After many organizations spent years cultivating extensive supply chain relationships, COVID-19 and other events revealed certain weaknesses in how supplier networks have been traditionally managed. Underinvestment in third-party risk management (TPRM) rendered many organizations vulnerable to various types of disruption as the pandemic made it difficult for many providers of goods and services to fulfill obligations.

With supply chain challenges top of mind at many organizations, our latest article, Rethinking supply chains: What could change?, provides insights into leading practices to help an organization improve its ability to manage third parties while reducing costs.