Due diligence in vetting and monitoring third parties
January 01, 1970 by Mark Dunn
Every large organisation is faced with the same challenge: you need to do business with third party suppliers to deliver products and services to customers, but you're also vulnerable to a wide variety of problems — ranging from operational disruptions to legal exposure — if those suppliers let you down.
Emerging regulatory and compliance issues are impacting supply management professionals more and more, highlighting the importance of due diligence in vetting and monitoring the third parties with which you're associated.
The risks of doing business with third parties that fail to perform appropriately include potential supply chain disruption, financial exposure, reputational damage and even government investigations that may arise when regulatory compliance issues are involved.
Download our whitepaper to gain a comprehensive overview of third party supply chain risks and considerations, and tips on how to mitigate them.