Uncategorized
August 9, 2023 by James Zeits | Leave a Comment
Risk is unavoidable for any business operation, so mitigating those risks is critical to yourcompany’s survival. A common area of concern for most modern businesses is compliance risk.While global regulations and accessibility grow, compliance risks for businesses grow as well. Depending on the sector in which your company operates, both internal and external regulationswill dictate […]
Read more »
A Vendor Management Program (VMP) refers to the strategic and tactical measures a company implements to work efficiently with its vendors, suppliers, and other third parties. VMP’s include policies and procedures that are explained in shared documents. Such programs allow organizations to control costs, manage risks, and improve their products and services. What is the […]
May 8, 2023 by James Zeits | Leave a Comment
Against a backdrop of continual manufacturing supply chain constraints, worker shortages, and cybersecurity threats, managing third-party and vendor risk has become increasingly important for the manufacturing industry. As the world seeks to move past the chaos of the pandemic, businesses are seeking to bolster their resilience against future shocks by investing in digital transformation measures. […]
Executive Summary Since early 2020, manufacturing supply chains have seen unprecedented global disruption, leading to tighter margins for suppliers and increased pressure from regulators to manage supply risks. Even prior to COVID-19 and its continuing knock-on effects, doing business with third parties had become an increasing business and supply chain risk for global manufacturing. A […]
The benefits of outsourcing business functions to third parties are undeniable, such as lower operational costs, enhanced supply chain stability, and smoother entry into new markets. But relationships with third-party vendors, contract manufacturers, traditional suppliers, agents, distributors, technology providers, and more are inherently risky. As the third-party networks that companies rely on grow larger and […]