Complex supply chains are a defining feature of the globalised economy. Businesses rely on hundreds of suppliers and sub-contractors to deliver their products and services. Each link in the supply chain exposes your brand to operational and reputational risk.
red flare vendor management provides a repeatable process to identify, assess, mitigate, and monitor third-party risks by
- streamlining information gathering during partner due diligence and partner on-boarding
- gaining access to risk and control assessments with real-time reporting
- assigning tasks and recording interactions with your partners using red flare integrated task management.
Most importantly, the red flare dashboard provides assurance to your board that quality, service levels, and compliance with standards and regulations are effectively recorded and managed. Your new insight into your partner relationships improves risk awareness and therefore, better informed business decisions.