Key Concepts of Supply Chain Risk Management
Organizations are always at risk for losses through cost volatility, supply disruption, non-compliance fines, and safety incidents that cause damage to their brand and reputation. Knowing what’s at stake is the first step to understanding, measuring, and managing risk in your supply chain.
Avetta’s supply chain risk management software helps you identify supply chain risk, document risk factors, and manage risk. For example, do your suppliers have the proper insurance? What is their record for safety, sustainability, and quality assurance?
Identifying supply chain risk might be split between several departments, such as operations, procurement, risk management, health and safety, and compliance. Our supply chain risk management solutions give you a central repository for certificates of insurance, audit reports, safety records, and records documenting the qualifications and certifications of your suppliers and their employees.