What is Supplier Risk Management?

Supplier risk management refers to the process of identifying, assessing, and mitigating risks associated with suppliers. Ultimately these processes help impact the organization's supply chain and business operations.

The most important types of supplier risk include business and financial risks, business operational risks, compliance risks, geopolitical risks, CSR and ESG risks, cybersecurity, and performance risks.

By proactively identifying and managing these types of supplier risks, organizations can strengthen their supply chain, protect their interests, and ensure continuity in their procurement operations.