While supplier risk management is not a new program, today's challenges require a new response. The confluence of current conditions - including the pandemic, geopolitical and social upheaval, a resurgence in modern slavery, financial uncertainty, and the urgency of the climate crisis - make old "siloed" compliance-oriented approaches unmanageable, and the outputs ineffective. Supplier risk demands a holistic and proactive approach, where the best defense is a performance-based offense that can serve as a foundation for upside and positive impact.
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While supplier risk management is not a new program, today's challenges require a new response. The confluence of current conditions - including the pandemic, geopolitical and social upheaval, a resurgence in modern slavery, financial uncertainty, and the urgency of the climate crisis - make old "siloed" compliance-oriented approaches unmanageable, and the outputs ineffective. Supplier risk demands a holistic and proactive approach, where the best defense is a performance-based offense that can serve as a foundation for upside and positive impact.