Supplier Risk Intelligence

Proactively identify, monitor and mitigate third-party supplier risk to ensure business continuity and meet compliance and sustainability goals. 

Mitigate risk exposure in a volatile, complex environment

For businesses with large supplier bases and complex supply chains, managing third-party supplier risk is a major challenge. Exposures range from the financial stability of individual suppliers to geopolitical and climate-related upheavals. 

Many CPOs feel they’re unprepared to anticipate risks before they happen and take appropriate action. When risks do arise, it’s often too late to act proactively to avoid them.

With increasing competitive and performance pressures, procurement teams need a way to continuously monitor emerging risks, and act swiftly to eliminate or minimise their business impact.

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5 steps to a world-class supplier risk management system

The Smart Cube’s Supplier Risk Intelligence solution provides intelligence across the end-to-end risk monitoring and management process, going beyond just financial risk ratings, to evaluate the operational, compliance, strategic and geographic risks associated with your suppliers. 

 

Using our AI+HI approach, we alert you to potential supplier risks before they impact the business, while expert custom impact assessments provide recommendations for appropriate and timely action.

 

Using your current supplier risk management process as a start point, we’ll take you through a five-step process to deliver a solution that meets your unique needs:

1

Risk program diagnostics

We’ll undertake discovery workshops to review how you manage supplier risk, identify opportunities for improvement, and tailor our solution coverage.

2

Solution scoping:

We’ll segment your suppliers into risk tiers, and suggest relevant data sources to monitor risk across suppliers, categories, countries and risk types.

3

Program recommendation

We’ll propose a supplier risk monitoring and management program that maps to your budget, organisational maturity, risk protocols and compliance requirements.

4

Platform implementation

We’ll configure your suppliers on our online risk monitoring platform that uses machine learning algorithms and risk specialists to identify risks in near real time.

5

Risk mitigation

We’ll assess the impact of risks highlighted by the solution, or those identified by you directly and provide custom intelligence to help mitigate the impact.

Benefits for your business

Gain a holistic view

Gain a holistic view

See the complete picture. Build a comprehensive risk management framework covering your entire supplier base, and the complete spectrum of risk categories including operational, compliance and strategic business risks associated with your suppliers. 

Proactively mitigate risk

Proactively mitigate risk

Act before it’s too late. Get a near real-time view of leading risk indicators across key suppliers, categories and countries. Leverage custom intelligence and alerts to act on early warnings of risks that could impact your operations.

Stay ethical and compliant

Stay ethical and compliant

Maintain standards throughout your supply chain. Know when suppliers risk falling below the standards set by your organisation and external regulators, and take swift action.

Ready to talk to us about the challenges facing your business?