Third-Party and Supply Chain Risk Types

From geopolitical risk and cybersecurity threats to forced labor and climate change, the risk factors that can threaten an organization’s supply chain are increasing in frequency and severity by the day. To mitigate long-term supply chain risks proactively, it is critical for organizations to establish a holistic view of the overall risk factors that could adversely impact their operations, revenue, and brand reputation.

 

Exiger is the only supply chain and risk management solution that provides visibility across all risk categories.

From geopolitical risk and cybersecurity threats to forced labor and climate change, the risk factors that can threaten an organization’s supply chain are increasing in frequency and severity by the day. To mitigate long-term supply chain risks, it is critical for organizations to establish a holistic view of the overall risk factors that could adversely impact their operations, revenue, and brand reputation.

 

Exiger is the only supply chain and risk management solution that provides visibility across all risk categories.

Navigating the Seven Dimensions of Risk

A single supplier decision requires a complex and endless waterfall of risk-weighted decisions to optimize a supply chain.  Multiply this by thousands of suppliers in a serial production scenario, and decision complexity explodes in terms of variables. Exiger’s risk model helps simplify some of that calculus, capturing the multitude of supply chain risks into seven major categories.

 

Focusing on only one or two types of risk at the expense of others can also hurt your organization in the long run, as your risk coverage will have limited visibility and effectiveness. Risks don’t respect boundaries. A holistic view and constant monitoring are required.

 

Exiger’s seven dimensions of risk provide a framework to help our customers identify, mitigate and combat the many third-party and supply chain risks that threaten tiered supply chain ecosystems today.

Financial risk is a top risk factor for companies in the global marketplace. Not only is financial duress a key leading indicator for governance, cyber and operational risks, but the financial collapse of a critical vendor can shatter supply chains. Insolvency, bankruptcy or financial hardships that cripple crucial nodes in the network of modern business dependencies can create cascading failures throughout a system, as the world witnessed during the COVID-19 pandemic.
 
In fact, 42% of global risk managers rate business interruption from financial failure as the most prevalent risk in their supply chains. This concern is not misplaced: according to the U.S. Small Business Association, 50% of small businesses fail within the first five years, and corporate credit risk has increased steadily since 2017.
 
Learn more about the financial risk factors that impact your supply chain and what you can do to mitigate them.
 

comprehensive risk coverage

Safeguard Your Supply Chain
in Real-Time

Our proprietary risk model, part of the 1Exiger platform, powers full visibility across your entire ecosystem. It delivers an overarching dynamic view to inform supply chain risk management. The customizable risk weighting can be mapped to your thresholds,  surfacing only the most relevant findings — that are fully auditable and verifiable — and eliminating false positives. 

 

The comprehensive risk scores with 1Exiger can alert you to potential disruption events to avoid or mitigate. This helps save costs by avoiding regulatory fines — and save time spent by your team on activities related to risk management.

CONTINUOUS RISK MONITORING

Safeguard Your Supply Chain
in Real-Time

Our proprietary risk model, part of the 1Exiger platform, powers full visibility across your entire ecosystem. It delivers an overarching dynamic view to inform supply chain risk management. The customizable risk weighting can be mapped to your thresholds,  surfacing only the most relevant findings and eliminating false positives. 

HOLISTIC RISK COVERAGE

Make Proactive Decisions with Absolute Confidence

Exiger’s end-to-end third-party and supply chain due diligence solution provides stakeholders with a 360° view of the risks threatening your operations, brand and reputation through:

 

  • Automated knowledge graph creation from structured and unstructured open-source data
  • Comprehensive risk profiles, including dashboards and analytics
  • Continuous monitoring of relationships for changes

 

All risks are weighted based on importance and calculated into an overall risk score, providing an overall portfolio view that makes management of risk and impacts easier to manage.

HOLISTIC RISK COVERAGE

Make Proactive Decisions with Absolute Confidence

Exiger’s end-to-end third-party and supply chain due diligence solution provides stakeholders with a 360° view of the risks threatening your operations, brand and reputation through:

 

  • Automated knowledge graph creation from structured and unstructured open-source data
  • Comprehensive risk profiles, including dashboards and analytics
  • Continuous monitoring of relationships for changes
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