Many companies today face the challenge of ensuring expertise, reliability, and compliance in supply chains. To keep complex supply chains stable, businesses from all industries require strategies and systems for effective risk management.
The 21st Century Supply Chain is not immune to internal and external threats and needs to be resilient. Internal threats include fires, faulty products, and strikes. In addition, risks can be posed by natural disasters such as storms, flooding, and earthquakes which affect operations. Company brand and reputation can be easily damaged when human and labor right violation is reported in the supply chain. There are also external threats such as cyberattacks, geopolitical events, and trade and tariff issues.
To build and maintain resilient supply chains, every partner in the chain must be subjected to a detailed evaluation. This should aim to ensure compliance at supplier level with the standards concerning expertise, quality, reliability, and safety as well as the relevant government regulations concerning environmental, social, and governance factors (ESG).
The advantages of consistent risk management assessment in the supply chain are:
- Identifying, evaluating, and risks mitigation
- Evaluating the expertise of partners in the supply chain in line with company specifications
- Continuous process improvement in order to build resilience
- Consistently complying with the relevant regulations and standards set down in law
DEKRA with use of cutting edge technology and expertise, is able to offer in depth analysis, assessment activities and monitoring to organizations so that they have insight on their entire supply chain.