Procurement, compliance, risk, and supply chain professionals understand that knowing who you do business with matters. But how do companies truly know who they do business with? Traditional, point-in-time vendor assessments and due diligence are time-consuming and fail to tell you if a supplier is compliant year-round, or just at the time of assessment.
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"35% of organizations reported that third-party incidents had affected their regulatory compliance”
Assess whether your suppliers and their partners are operating sustainable businesses, acting as good corporate citizens, or engaging in unethical labor practices, counterfeiting products, and violating data protection standards.
1
Discover whether your suppliers and their suppliers follow ethical labor practices.
2
Understand regulatory changes that might lead to production shortfalls.
3
Identify suppliers that have experienced data breaches and violations of data protection laws.
4
Ensure the quality of goods and avoid counterfeit materials.
5
Avoid suppliers operating in sanctioned or restricted countries.
6
Identify and eliminate prohibited companies
