In an age of boundless data, consumers are more informed than ever before – they want to know more about the things they buy, where their money is going, and if the companies they support share their values. Also, a high standard of ethics and corporate responsibility is becoming increasingly important to institutional investors.
Customer and investor demands aren’t the only pressure points – the uncertainty and disruption caused by the current pandemic are forcing organizations to reassess their supply base continually.
Businesses may implement short-term workarounds to circumvent longstanding inefficient processes in supplier due diligence. Still, any reduction in due diligence may inadvertently expose them (and their investors) to unacceptable levels of long-term risk. And manual, legacy processes - like self-assessment questionnaires (SAQs) or on-site audits - have limitations, such as objectivity, reliability, scalability, and cost. As we have seen from recent events, effective due diligence not only identifies risks in the supply chain, it enables the organization to demonstrate that all reasonable steps have been taken to anticipate and avoid disruption across the supply chain.
Watch to discover how your buyers can make smarter, safer decisions, simply by making risk due diligence a natural part of the procurement process.
You’ll also learn how: - Smart technologies can enhance your supplier due diligence processes - A sustainability lens can shine a light into supplier performance to help mitigate risk and better manage key supplier relationships - Sustainability ratings can protect your supply chain and your brand - Tomorrow’s procurement will leverage big data and actionable intelligence to segment your supply base, mitigate risk, optimize, innovate, and drive real results.