The New Reality for Managing Supplier Risk
It’s harder than you think
Recent events in the financial markets have indicated the increasing significance and importance for organizations to establish rigorous Supplier Risk Management (SRM) controls. These events have further enforced the demand for organizations to adopt a broad SRM program, with effective governance controls, supplier metrics, mitigation strategies, risk management processes and reporting.
Deloitte’s experience indicates that implementing an effective SRM model with appropriate processes, systems and tools, and supplemented by individuals with the requisite skill sets, organizations can achieve the aforementioned and effectively identify, track, manage, and help mitigate supplier risks at the enterprise level.
Download the attached document to read more, including insights relating to the following questions:
- Why should organizations pay attention to SRM?
- Why have some organizations been more effective than others?
- What are the common challenges that organizations should address when implementing SRM?
- What are the critical success factors for SRM in an organization?