Supply chain disruptions are happening daily all over the world. To prevent costly compliance mistakes and shortages caused by such disruptions, industrial manufacturers, consumer products brands and other organizations must become more proactive and elevate supply chain management.
At the same time, competition is intensifying, making strong supplier relationships crucial. Risks are soaring, but according to Zippia, only 6% of companies have full supply chain visibility. Given the current global and local supply chain challenges, enhanced visibility into vendor and supplier risks is essential.
Effective vendor selection is key. Organizations must modernize their supplier assessment processes and monitoring to keep pace with disruptions. By harnessing the power of technology to assess multiple risk categories across your supplier network, you can streamline onboarding and quickly identify potential issues with existing suppliers.
How RSM can help
RSM has formed a strategic business alliance with Equifax to provide a one-of-a-kind supplier risk Rapid Assessment®. Our experience in supply chain, industry, and environmental, social and governance (ESG)—coupled with the Supplier Risk Solution™—offers a deeper understanding of your supply chain as well as insights for building resiliency. By leveraging technology to assess multiple types of risk within your supplier network, you can onboard new suppliers more effectively while simultaneously flagging changes in the risk profile of existing suppliers.
RSM’s Rapid Assessment of your supplier risk can help your team visualize what is possible with this new technology-enhanced supply chain solution. The assessment provides:
- Greater insight into your supply chain
- Analysis of your supply chain risk, including financial, cybersecurity, geopolitical and operational risks
- Identification of mitigation strategies that align with best practices and standards
- Development of a pathway to compliance
- Evaluation of ESG risks and the identification of opportunities that may enhance your company’s ESG position
Why Equifax?
In addition to providing consumer credit data and reporting, Equifax collects data on more than 88 million businesses worldwide. The cloud-based Supplier Risk Solution, powered by Interos and explainable AI, continuously maps and monitors more than 450 million companies and nearly 2 billion supplier-buyer relationships against multiple risk factors—including ESG, cybersecurity, financial, regulatory, geopolitical and catastrophic—to help identify potential vulnerabilities in the supply chain.
