Supply Chain Risk Assessment
Close the supply chain risk feedback loop.
Automate supplier and third-party assessment processes, enrich evaluation of risk scores and integrate survey results into business partners’ risk profiles. You’ll understand where risks exist and are always up to date, so you can avoid and mitigate risk events faster.
Operate user-friendly surveys and survey templates in conjunction with other supply risk management activities. Make sure you adhere to internal directives and regulations needed for compliance with ESG and other requirements.
In a risk event, evaluate the criticality of alerts you receive by identifying potentially affected suppliers and submitting surveys to them in the field or in the office. Collecting and consolidating survey results helps you assess the impact to determine your next steps.
Be prepared for inspections. Easy-to-generate customizable surveys provide the flexibility to query all kinds of supplier risk data and compliance requirements. The structure and question format of each survey can be broadly adapted to meet the requirements of each assessment.
Supplier and vendor qualification is critical for your success and for mutual relationships with your new business partners based on specific business cases. Customizable surveys allow you to efficiently qualify your partners and make sound decisions for every situation.
Leveraging a versatile supply chain assessment tool simplifies supplier qualification and monitoring, improves data accuracy and reduces manual data collection by closing the risk feedback loop.
Enrich the evaluation of risk scores and automatically integrate third-party survey results into your business partners’ holistic risk profiles within the Sphera Supply Chain Risk Management solution.
Benefit from purpose-built solutions with a seamless connection.
Effective SCRM involves monitoring millions of data sources for emerging risks. In global supply chains, the task is beyond human capacity. Risk Intelligence leverages the power of artificial intelligence to monitor data around the clock.
Whether you want to see your supply chain on the big screen or the small screen, Sphera SCRM Apps have you covered.
Impact Analyzer helps you to minimize the business impact of risk by assessing suppliers’ criticality and detecting vulnerabilities at the category level. Adding impact dimensions like revenue and spend allows you to assess the extent of damage that a potential supplier failure could have on the supply chain. This also helps you select the suppliers that are best for your business.
Action Planner helps you collaborate across your organization and with your suppliers to orchestrate the tasks needed to both proactively and reactively mitigate risk. Use pre-built and customizable action plans, so you can quickly take action before incidents become critical.
Compliance Incident Management (CIM) captures all relevant incident data. CIM comprehensively checks your supply chain for compliance-related violations and can be customized with company-related specifics. This enables you to monitor supply chain incidents that may violate regulatory requirements or internal sustainability goals and put you at greater financial or reputational risk.
Sub-Tier Visibility visualizes the process of monitoring and alerting n-tier supply chains within the Sphera Supply Chain Risk Management solution. With supplier-validated supply sites, you can confidently map sub-tier dependencies and more accurately expose threats in your sub-tiers before they become critical.
Assessing supplier risk is key to holistic SCRM. With automated surveys, companies can easily scale data-collection.
Managing the risks posed by third parties is not new. Yet processes must evolve to include real-time monitoring and fast response.
Supplier evaluation is a formal assessment of your relationship with a supplier, or to pre-qualify a potential supplier. Learn how
Top challenges include the speed of the risk assessment process (43%). Top challenges include the amount of time required for the risk assessment process.
Every second company 50% of companies (an increase of 28% compared to the previous year) report up to five disruptions annually. Over a quarter of companies report more than six disruptions per year.
A global electronics manufacturer achieved a 40% reduction in high-risk spending by performing a risk assessment of its global manufacturing and supplier network.
92% of organizations are highly dependent on suppliers, but face challenges in assessing compliance.
Learn what Sphera’s Supply Chain Risk Management software can do for your enterprise.