Managing 3rd Party Risk: A Comprehensive Guide to Managing the Risk of Your Vendors, Customers, Partners or Employees
A Comprehensive Guide to Managing the Risk of Your Vendors, Customers, Partners or Employees
Whether you are a large corporation or a mom and pop shop, you probably cannot manage all your business by yourself. That is where vendors come in. Vendors may provide goods (fresh produce, hardware, fleets of cars) or services (consulting, photography, social media production), all of which can be critical to your business success.
When companies began extensively outsourcing and globalizing their operations in the 1980’s and 1990’s, they did so without understanding the risks suppliers posed. Lack of supplier attention to quality management could compromise the brand. Lack of physical or cybersecurity at supplier sites could result in a breach of corporate data systems or product corruption. Over time, companies have begun implementing vendor management systems – ranging from basic, paper-based approaches to highly sophisticated software solutions and physical audits – to assess and mitigate vendor risks to their operations.
This book walks you through the entire process of managing your risk.
