Perform regular risk analysis in real time and document risk alerts, along with actions taken.
Ensure Compliance and Transparency
Creating transparency and maintaining compliance in the supply network remain a major challenge for purchasing and supply chain managers. After all, ensuring that laws and regulatory compliance are observed is ultimately their task.
Mitigate Risks Related to Compliance Incidents
When you receive a risk alert, Action Planner helps you take remedial actions and communicate these across the organization and to your suppliers. Use ready-made and customizable action plans in which preventive measures and responsibilities are already anchored.
Prepare a catalog of action plans for various types of risk. You can react faster to violations or incidents.
Minimize supply chain due diligence risks. Have pre-built preventive and remedial action plans on hand for all kinds of risk. Customize plans easily to fit each use case.
Avoid fines and penalties. CIM automatically documents activities, so they can be shared with authorities or other external partners.
Sphera SCRM Compliance Incident Management (CIM)
Sphera SCRM Compliance Incident Management (CIM) monitors supply chains for compliance-related violations, captures relevant incident data and provides a useful overview of the information.
Supply Chain Laws You Should Know
What you don’t know can harm your business and your reputation. Understand how new laws, regulations and executive orders can affect your supply chain.
Stricter due diligence and liability rules, such as those resulting from the planned Supply Chain Act, also prompt action. Here, significantly more than half of the respondents see the risk of serious and even existence-threatening damage and profit losses for the company.
Our research found that disruptions have incurred substantial financial costs (averaging 6-10% of annual revenues), as well as reputational costs—in terms of customer complaints and damage to brand reputation—as companies have struggled to maintain supplies of their goods.
It is estimated a company could add as much as 20% of value or lose up to 30% depending on its reputation risk preparedness and management in the immediate aftermath of a crisis.
92% of organizations are highly dependent on suppliers, but face challenges assessing compliance.
Are You Ready to Monitor Risk in Real Time?
Learn what Sphera’s Supply Chain Risk Management software can do for your enterprise.