Assess and mitigate supply chain partner business resilience risks
Supply chain resilience assessments enable you to understand how prepared your suppliers are to handle disruptions that could negatively impact your business. This includes evaluations of their incident response, business continuity, and disaster recovery plans. However, assessing supply chain resilience can be complex and time-consuming – especially if you’re relying on spreadsheets to manage the process.
The Prevalent Third-Party Risk Management Platform includes unified capabilities for assessing, analyzing and addressing weaknesses in supplier business resilience plans. This enables you to proactively work with your supplier community to prepare for pandemics, environmental disasters, and other potential crises.
Centralize visibility into supply chain risk management, including business continuity plans and related risks
Make it easy for your team to tackle the most critical issues first with clear risk scores for each supplier
Save critical time in a crisis by automating supplier assessment collection, analysis and risk remediation
Be better prepared for pandemics, environmental disasters, and other supply chain disruptions with centralized visibility into your entire supplier base
Meet auditor and board requirements for business resilience planning
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Rapidly pre-screen suppliers using a library of continuously updated risk scores based on inherent/residual risk, assessment results and real-time reputational monitoring.
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps 4th-party dependencies across your supply chain.
Use a simple assessment with clear scoring to track and quantify inherent risks and determine the scope of subsequent supplier risk assessments.
Leverage Prevalent's built-in business resilience assessment questionnaire to understand supplier incident response, disaster recovery and communications plans. Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
Normalize, correlate and analyze results from multiple assessments for unified supply chain risk reporting and remediation.
Take actionable steps to reduce supplier risk with built-in remediation recommendations and guidance.
Store and manage supply chain partner business continuity, disaster recovery and communications plan documents, evidence and more for dialog and attestation.
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and risks in your extended vendor ecosystem.
Visualize and address compliance requirements by automatically mapping assessment results to any regulation or framework. Demonstrate to auditors and the board that you have a plan to address vendor supply chain disruptions.
Identify, alert and communicate exceptions to common behavior with built-in report templates.
Ensure that new vendors are prepared to meet their contractual requirements in the face of unplanned disruptions.
Add context to cybersecurity assessments and automate the scheduling, collection, analysis, management, and remediation of vendor risks in a central platform.
Demonstrate compliance to auditors and prove to the board you have plans in place to address supply chain failures.
Supply Chain Risk Management: The Definitive Guide
SCRM is increasingly raised as a board-level topic as business continuity concerns and product lifecycle management take on more important roles. Get started with these best practices for tackling supply chain risk.
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