7 Steps to Effective Vendor Risk Management

Business dependence on the third-party supply chain ecosystem has never been more complex. As client, market, and regulatory pressures increase, the risks associated with widespread reliance on third-party vendors compound.

Supply chain risk can come in many forms:
• Cybersecurity
• Data privacy
• Business resiliency
• Financial, brand and reputational risks

Wherever your organization’s vendor risk management program is in its evolution, the key to success is to simplify and streamline the entire process through iterations that will make it sustainable.

In this white paper, we outline the “7 Steps to Effective Vendor Risk Management,” which incorporate cross-industry best practices to guide the process and equip your organization with a top-tier approach to managing third-party risk.