Supplier Risk Assessments & Monitoring
Supply Market Intelligence & Comprehensive Business, Financial and Sustainability (BFS) Assessments for your Critical Suppliers
Every organisation has a set of critical suppliers, which are deeply integrated into the supply chain, and any risk to these critical suppliers can cause supply chain disruptions for the organisation. Therefore it becomes important for organisations to stay aware and updated about any potential risk to these critical suppliers. While, leading organisations have embraced supplier risk assessments, these are often equated with the unilateral approach of reviewing financial performance, to ensure that suppliers are not staring at insolvency. However, such financial assessments point only to the symptoms (financial health indicators), but fail to identify the underlying business conditions that actually result in deterioration of their financial health. To address this shortcoming, we have developed a proprietary risk assessment framework – BFS – that monitors supplier risk across 250+ Business, Financial & Sustainability risk indicators. We also have a comprehensive supplier monitoring framework in place to capture, filter, analyse and present all important developments related to the suppliers.
BFS – Our Comprehensive Risk Assessment Framework
The BFS framework not only does a thorough analysis of a supplier’s financial health, it also assess the business ecosystem, and sustainability performance to uncover any and every potential risk. The framework, assesses the suppliers on more than 250 indicators, and the performance is analysed keeping the suppliers industry, geography, and scale in context to gauge its exposure to potential risks. The findings of the analyses are presented to the clients in easy to understand actionable intelligence reports, which highlight prominent risks and pointers which the client should consider while engaging with the supplier. BFS has been well received by our clients and they see it as a boost to their strategic sourcing endeavours.
An indicative list of parameters used for BFS assessment:
Supplier Intelligence Solution
Also, as modern supply chains spread across continents, CPO’s need rapid, wider and deeper coverage on their supply chains to effectively monitor the risks related to their critical suppliers. Our multi-pronged approach to supplier monitoring in addition to the BFS assessments, comprises of tracking of supplier developments, real time alerts on critical updates; quarterly/ half-yearly earnings update on public suppliers; and newsletters covering suppliers and supply markets. This solution has proven useful for category managers, who can use this filtered yet comprehensive dose of information to keep a tab on their suppliers as well categories and proactively plan for their supplier engagement.
The solution is delivered through a comprehensive set of deliverables:
- Real-time Alerts on Critical Developments
- Periodic Newsletters on Suppliers
- Periodic Newsletters on Supply Markets
- Periodic Reports on Major Risk Indicators
- Quarterly Financial Performance Update
- Dashboards Monitoring Risk Profile of Suppliers
An indicative list of parameters monitored:
Supply Chain Monitoring