In challenging markets, cost cutting and budget management means risk managers and procurement organizations need to be efficient. They need to ensure they’re working with suppliers and vendors that can deliver high quality goods and services without exposing their company to reputational, revenue, business disruption, and other risks. Additionally, weather events and telecommunication outages are almost impossible to predict, and cyber risk never stops evolving. The common KPI underpinning all of these risks that we can measure and predict is financial health.  Financial health is a leading indicator of success or failure in many control areas, and financial risk evaluations should not be siloed or disconnected from other risk areas. Moreover, if done properly, financial health evaluations can become a vehicle for building transparent business relationships and resiliency within the supply chain.

Contributors: RapidRatings
Categories: 2017 Fall - Carlsbad, Summit Presentations
SRC Type: Risk Management, Sourcing Management