Deloitte is providing supplier risk assessment services for the 2010 Winter Games
Given the challenging economic climate leading up to the 2010 Winter Games, the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC) needed to identify suppliers that may be in financial difficulty, which could lead to possible supply disruptions. VANOC required assistance to perform financial due diligence on selected existing and potential suppliers on a number of characteristics, including criticality to the operation of the Games, company location (if offshore, for example), and the value and relative size of the supplier contract.
Deloitte assisted in performing financial due diligence on suppliers by conducting detailed research and analysis on identified suppliers and their relevant industries. Our approach was based primarily upon publicly available financial information, as well as information provided by VANOC, supplemented by primary and secondary research. We developed a framework for financial due diligence that succinctly summarized our analysis, building to an overall risk level. We then summarized our analysis and findings in a report for each supplier examined.
Deloitte provided reporting in a way that aligned with the decision-making timetable of VANOC’s procurement function on an as-required basis. This included both broad industry analysis, as well as specific company due diligence. Our reports provided VANOC with a means to assess the financial risk inherent in certain potential suppliers and to make informed procurement decisions.