PROACTIS Supplier Risk Management


Improve supplier visibility and minimise risk
In today's complex world, supplier risk management is just as critical to your organisation's financial health and competitive performance as your efforts to produce cost savings. 

 
Solution 
PROACTIS Supplier Risk Management enables you to effectively manage your organisation's diverse range of supplier risk by putting in place ongoing processes that make supplier visibility and risk management a natural part of everyone's daily activity, and a natural part of your ongoing engagement with your suppliers

Why use PROACTIS Supplier Risk Management?


Supplier risk management cannot be seen as just a one-time or periodic event. It must be built into your organisation's ongoing supplier interaction in order to be effective. Once a year risk assessments don't do the job, take too much time, and cost too much. Paying attention to only the top 10-20% of your suppliers doesn't cover enough of the potential. Focusing only on initial supplier qualification doesn't take into consideration the rapid rate of change in today's business environment.

PROACTIS Supplier Risk Management gives you the framework of information and process automation you need to make your risk management program thorough, consistent and continuous across virtually all of your suppliers. The key elements are provided by PROACTIS Procurement applications such as Supplier Management, Contract Management and Sourcing:

 
  • A centralised supplier directory, contract register, and information repository
  • Automated supplier qualification tool
  • Automated sourcing and supplier selection tools
  • Automated supplier and contract monitoring
  • Supplier self-service information maintenance with controls and alerts
Along with tools such as subscriptions to external sources of supplier information and change alerts, and possibly development of formal contingency plans to speed response to the potential failure of your most critical suppliers, these basic elements form the essential framework that is needed to make it practical for you to implement and sustain a reliable approach to supplier risk management.
Benefits to you as a buyer:
 
  • Confidence that suppliers have been thoroughly qualified, certified and selected, and that you quickly become aware of important changes or lapses
  • Preparedness with the comprehensive supplier information you need to respond when a potential supplier problem arise
 
  • Efficiency in the processes you perform to manage risk because they are a natural extension of your ongoing efforts to support the needs of your organisation and find ways to reduce cost
 
PROACTIS Supplier Risk Management
 
We have such a diverse range of suppliers, and therefore risks, but PROACTIS enables us to minimise the chances of damage to our organisation caused by supplier non-performance and non-compliance. 
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